Cantor Fitzgerald Issues Positive Forecast for LeMaitre Vascular (NASDAQ:LMAT) Stock Price

Key Points

• Cantor Fitzgerald has raised its price objective for LeMaitre Vascular from $92.00 to $95.00, suggesting a potential upside of 0.21% from the current stock price and maintaining a "neutral" rating.
• Barrington Research upgraded LeMaitre Vascular's rating from "market perform" to "outperform," also setting a price target of $95.00, with an average consensus rating of "Hold" among analysts.
• The company reported a 15.0% increase in revenue year-over-year, with earnings exceeding analysts' expectations at $0.60 per share for the recent quarter.

LeMaitre Vascular (NASDAQ:LMAT - Free Report) had its price objective lifted by Cantor Fitzgerald from $92.00 to $95.00 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the medical instruments supplier's stock.

Separately, Barrington Research raised shares of LeMaitre Vascular from a "market perform" rating to an "outperform" rating and set a $95.00 price target for the company in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $98.00.

LeMaitre Vascular Price Performance

Shares of LMAT traded down $1.98 during mid-day trading on Wednesday, hitting $92.28. 149,596 shares of the company were exchanged, compared to its average volume of 149,416. LeMaitre Vascular has a 1-year low of $71.42 and a 1-year high of $109.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 11.74 and a current ratio of 13.96. The company has a 50 day moving average of $83.35 and a 200-day moving average of $86.50. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of 44.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.79.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The medical instruments supplier reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. LeMaitre Vascular had a net margin of 20.08% and a return on equity of 13.67%. The firm had revenue of $63.15 million during the quarter, compared to the consensus estimate of $62.48 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The company's revenue for the quarter was up 15.0% on a year-over-year basis. Analysts expect that LeMaitre Vascular will post 1.94 EPS for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. LeMaitre Vascular's dividend payout ratio is 38.83%.

Insider Transactions at LeMaitre Vascular

In other news, CEO George W. Lemaitre sold 100,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $93.51, for a total value of $9,351,000.00. Following the sale, the chief executive officer directly owned 1,727,003 shares in the company, valued at approximately $161,492,050.53. This trade represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 200,000 shares of company stock worth $17,907,857. 9.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On LeMaitre Vascular

Hedge funds and other institutional investors have recently modified their holdings of the company. Parkside Financial Bank & Trust raised its holdings in shares of LeMaitre Vascular by 1,913.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 302 shares of the medical instruments supplier's stock valued at $25,000 after purchasing an additional 287 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of LeMaitre Vascular in the 1st quarter valued at $26,000. NBC Securities Inc. acquired a new stake in shares of LeMaitre Vascular in the 1st quarter valued at $36,000. Geneos Wealth Management Inc. raised its holdings in shares of LeMaitre Vascular by 250.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 557 shares of the medical instruments supplier's stock valued at $47,000 after purchasing an additional 398 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in LeMaitre Vascular during the 1st quarter worth $50,000. 84.64% of the stock is currently owned by institutional investors and hedge funds.

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.