LeMaitre Vascular (NASDAQ:LMAT) Sets New 12-Month High on Earnings Beat

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s stock price reached a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $99.22 and last traded at $98.50, with a volume of 16733 shares. The stock had previously closed at $88.39.

The medical instruments supplier reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.05. LeMaitre Vascular had a return on equity of 12.41% and a net margin of 18.33%. The company had revenue of $54.82 million during the quarter, compared to analyst estimates of $53.50 million. During the same quarter last year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Barrington Research restated an “outperform” rating and issued a $92.00 target price on shares of LeMaitre Vascular in a research note on Friday, September 20th. StockNews.com lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Lake Street Capital assumed coverage on shares of LeMaitre Vascular in a report on Friday, August 2nd. They set a “buy” rating and a $105.00 target price on the stock. Cantor Fitzgerald started coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 price target for the company. Finally, JMP Securities upped their price target on shares of LeMaitre Vascular from $77.00 to $100.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $94.67.

Insider Buying and Selling at LeMaitre Vascular

In related news, Director David B. Roberts sold 3,063 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $82.07, for a total value of $251,380.41. Following the transaction, the director now owns 14,114 shares of the company’s stock, valued at $1,158,335.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.79% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in LMAT. NBC Securities Inc. increased its stake in LeMaitre Vascular by 73.2% in the third quarter. NBC Securities Inc. now owns 433 shares of the medical instruments supplier’s stock valued at $40,000 after acquiring an additional 183 shares during the last quarter. GAMMA Investing LLC increased its stake in LeMaitre Vascular by 57.0% in the second quarter. GAMMA Investing LLC now owns 548 shares of the medical instruments supplier’s stock valued at $45,000 after acquiring an additional 199 shares during the last quarter. West Oak Capital LLC bought a new position in LeMaitre Vascular in the second quarter valued at $58,000. USA Financial Formulas bought a new position in LeMaitre Vascular in the third quarter valued at $60,000. Finally, nVerses Capital LLC boosted its position in LeMaitre Vascular by 33.3% during the second quarter. nVerses Capital LLC now owns 800 shares of the medical instruments supplier’s stock valued at $66,000 after buying an additional 200 shares during the period. Institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Stock Up 11.1 %

The firm’s 50-day simple moving average is $89.53 and its 200-day simple moving average is $82.77. The firm has a market capitalization of $2.21 billion, a PE ratio of 59.41, a price-to-earnings-growth ratio of 2.33 and a beta of 0.88.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.