LeMaitre Vascular (NASDAQ:LMAT) Updates Q3 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its third quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.42 to $0.46 for the period, compared to the consensus earnings per share estimate of $0.42. The company issued revenue guidance of $52.7 million to $54.7 million, compared to the consensus revenue estimate of $52.33 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.820-1.910 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LMAT. Roth Capital raised shares of LeMaitre Vascular to a strong-buy rating in a report on Friday, May 31st. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a hold rating to a buy rating and lifted their target price for the company from $59.00 to $75.00 in a research report on Friday, April 26th. Roth Mkm reiterated a buy rating and set a $100.00 target price on shares of LeMaitre Vascular in a research report on Friday, May 31st. Barrington Research lifted their target price on shares of LeMaitre Vascular from $79.00 to $92.00 and gave the company an outperform rating in a research report on Friday. Finally, JMP Securities lifted their target price on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $86.50.

LeMaitre Vascular Stock Performance

Shares of NASDAQ LMAT traded down $1.24 during mid-day trading on Friday, hitting $85.01. The stock had a trading volume of 348,354 shares, compared to its average volume of 157,693. LeMaitre Vascular has a 1 year low of $44.27 and a 1 year high of $91.76. The business has a 50 day moving average price of $82.69 and a two-hundred day moving average price of $71.79. The firm has a market cap of $1.91 billion, a P/E ratio of 56.30, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.05. The business had revenue of $55.85 million for the quarter, compared to analysts’ expectations of $54.98 million. LeMaitre Vascular had a net margin of 18.33% and a return on equity of 12.63%. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. Equities research analysts predict that LeMaitre Vascular will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.75%. The ex-dividend date is Thursday, August 15th. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 42.38%.

Insider Activity at LeMaitre Vascular

In other news, CEO George W. Lemaitre sold 8,000 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $75.30, for a total transaction of $602,400.00. Following the sale, the chief executive officer now owns 2,079,128 shares in the company, valued at approximately $156,558,338.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO George W. Lemaitre sold 68,906 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $75.70, for a total transaction of $5,216,184.20. Following the sale, the chief executive officer now owns 2,133,428 shares in the company, valued at approximately $161,500,499.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO George W. Lemaitre sold 8,000 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $75.30, for a total transaction of $602,400.00. Following the completion of the transaction, the chief executive officer now owns 2,079,128 shares in the company, valued at approximately $156,558,338.40. The disclosure for this sale can be found here. Insiders have sold a total of 127,437 shares of company stock worth $10,076,242 over the last quarter. Corporate insiders own 10.79% of the company’s stock.

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.