LeMaitre Vascular (NASDAQ:LMAT) Price Target Cut to $110.00 by Analysts at Citizens Jmp

Key Points

• Citizens JMP cut its LeMaitre Vascular price target from $127 to $110 but maintained a “market outperform” rating; the new target implies about 25% upside from the current price.
• Analyst sentiment is mixed: MarketBeat’s consensus rating is “Hold,” with an average price target of $105.60.
• In its latest quarter, LeMaitre reported EPS of $0.65, missing the $0.69 consensus, while revenue of $67.97 million topped estimates and rose 11.3% year over year.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) had its price objective lowered by investment analysts at Citizens Jmp from $127.00 to $110.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "market outperform" rating on the medical instruments supplier's stock. Citizens Jmp's price target would suggest a potential upside of 25.11% from the stock's current price.

Other equities analysts have also issued reports about the company. Seaport Research Partners set a $110.00 price objective on LeMaitre Vascular in a report on Thursday. Wells Fargo & Company set a $86.00 target price on LeMaitre Vascular in a research report on Thursday. Wall Street Zen downgraded LeMaitre Vascular from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Weiss Ratings lowered LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, October 23rd. Finally, Citigroup reissued a "market outperform" rating on shares of LeMaitre Vascular in a research note on Thursday. Three investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $105.60.

LeMaitre Vascular Trading Up 9.1%

LeMaitre Vascular stock opened at $87.92 on Thursday. LeMaitre Vascular has a 52-week low of $78.22 and a 52-week high of $118.01. The company has a quick ratio of 13.96, a current ratio of 16.31 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 30.85, a PEG ratio of 2.32 and a beta of 0.51. The firm has a 50-day moving average price of $81.38 and a two-hundred day moving average price of $94.16.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The medical instruments supplier reported $0.65 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.04). The firm had revenue of $67.97 million during the quarter, compared to analyst estimates of $67.39 million. LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. LeMaitre Vascular's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.75 EPS. Sell-side analysts expect that LeMaitre Vascular will post 2.89 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in shares of LeMaitre Vascular in the second quarter worth about $314,075,000. First Trust Advisors LP raised its holdings in shares of LeMaitre Vascular by 6.2% during the first quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier's stock valued at $108,959,000 after acquiring an additional 57,931 shares during the period. Copeland Capital Management LLC raised its holdings in shares of LeMaitre Vascular by 10.1% during the third quarter. Copeland Capital Management LLC now owns 924,081 shares of the medical instruments supplier's stock valued at $76,320,000 after acquiring an additional 84,618 shares during the period. Boston Trust Walden Corp acquired a new stake in shares of LeMaitre Vascular during the third quarter valued at approximately $28,546,000. Finally, Ranger Investment Management L.P. purchased a new stake in shares of LeMaitre Vascular in the 2nd quarter valued at approximately $21,045,000. 84.64% of the stock is owned by institutional investors and hedge funds.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc is a medical device company focused on the treatment of peripheral vascular disease. The company develops, manufactures and markets products used primarily by vascular surgeons and other specialists in open vascular surgery procedures.

Its product portfolio includes biological and synthetic vascular grafts, carotid shunts, embolectomy and thrombectomy catheters, valvulotomes, vessel closure devices, vascular patches and surgical instruments. These products are designed to support procedures involving the arteries and veins, including the repair, reconstruction and treatment of diseased or obstructed blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular sells its products through a combination of direct sales personnel and distributors.

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