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 - Get Free Report) had its price objective raised by equities researchers at Cantor Fitzgerald from $92.00 to $95.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a "neutral" rating on the medical instruments supplier's stock. Cantor Fitzgerald's price objective would suggest a potential upside of 0.21% from the company's current price.

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

LeMaitre Vascular Stock Performance

Shares of NASDAQ LMAT traded up $9.20 during midday trading on Wednesday, reaching $94.80. The company's stock had a trading volume of 184,158 shares, compared to its average volume of 187,546. LeMaitre Vascular has a 12-month low of $71.42 and a 12-month high of $109.58. The firm has a 50 day moving average price of $82.64 and a 200-day moving average price of $86.68. The stock has a market capitalization of $2.14 billion, a P/E ratio of 47.49, a PEG ratio of 2.23 and a beta of 0.79. The company has a debt-to-equity ratio of 0.48, a current ratio of 16.49 and a quick ratio of 13.83.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last announced its earnings results on Tuesday, August 5th. The medical instruments supplier reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. LeMaitre Vascular had a return on equity of 13.53% and a net margin of 19.96%. The firm had revenue of $63.15 million for the quarter, compared to the consensus estimate of $62.48 million. During the same quarter in the previous year, the business earned $0.52 EPS. The company's revenue was up 15.0% compared to the same quarter last year. As a group, equities analysts predict that LeMaitre Vascular will post 1.94 earnings per share for the current year.

Insider Buying and Selling at LeMaitre Vascular

In other news, CEO George W. Lemaitre sold 76,868 shares of the company's stock in a transaction on Monday, May 19th. The shares were sold at an average price of $85.79, for a total value of $6,594,505.72. Following the transaction, the chief executive officer owned 1,796,783 shares of the company's stock, valued at approximately $154,146,013.57. This represents a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 100,000 shares of company stock valued at $8,556,857 over the last quarter. Corporate insiders own 9.50% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Annex Advisory Services LLC increased its stake in LeMaitre Vascular by 535.2% in the second quarter. Annex Advisory Services LLC now owns 219,667 shares of the medical instruments supplier's stock valued at $18,243,000 after acquiring an additional 185,085 shares during the last quarter. Raymond James Financial Inc. bought a new position in LeMaitre Vascular in the fourth quarter valued at $14,900,000. Millennium Management LLC increased its stake in LeMaitre Vascular by 119.8% in the first quarter. Millennium Management LLC now owns 211,222 shares of the medical instruments supplier's stock valued at $17,722,000 after acquiring an additional 115,141 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in LeMaitre Vascular in the fourth quarter valued at $7,787,000. Finally, Invesco Ltd. increased its stake in LeMaitre Vascular by 34.5% in the first quarter. Invesco Ltd. now owns 235,436 shares of the medical instruments supplier's stock valued at $19,753,000 after acquiring an additional 60,438 shares during the last quarter. Institutional investors own 84.64% of the company's stock.

LeMaitre Vascular Company Profile

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.

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