LeMaitre Vascular, Inc. (NASDAQ:LMAT) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst sentiment is neutral: Nine brokerages give LeMaitre Vascular an average “Hold” rating, with six holds and three buys. The average 12-month price target is $110.60.
• Shares have declined: LMAT opened at $78.87, near its 52-week low of $78.27 and below its 50-day and 200-day moving averages. Several analysts recently cut their ratings or price targets.
• Quarterly results missed expectations: The company reported $0.74 in earnings per share and $70.38 million in revenue, below analyst estimates, although revenue still grew 9.6% year over year. LeMaitre also pays a quarterly dividend of $0.25, or $1.00 annually.

LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) has received a consensus rating of "Hold" from the nine research firms that are presently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $110.60.

A number of analysts have commented on LMAT shares. Weiss Ratings lowered shares of LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Wells Fargo & Company decreased their target price on shares of LeMaitre Vascular from $104.00 to $94.00 and set an "equal weight" rating for the company in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Citigroup reiterated a "market outperform" rating on shares of LeMaitre Vascular in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded LeMaitre Vascular from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th.

Hedge Funds Weigh In On LeMaitre Vascular

A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC bought a new stake in shares of LeMaitre Vascular in the 2nd quarter worth $526,000. Engineers Gate Manager LP lifted its position in shares of LeMaitre Vascular by 38.4% during the second quarter. Engineers Gate Manager LP now owns 14,008 shares of the medical instruments supplier's stock valued at $1,344,000 after purchasing an additional 3,888 shares in the last quarter. Nykredit A S bought a new position in shares of LeMaitre Vascular during the second quarter valued at about $82,000. Corient Private Wealth LP boosted its holdings in LeMaitre Vascular by 62.8% during the second quarter. Corient Private Wealth LP now owns 25,589 shares of the medical instruments supplier's stock worth $2,456,000 after purchasing an additional 9,875 shares during the last quarter. Finally, Grandeur Peak Global Advisors LLC boosted its holdings in LeMaitre Vascular by 63.1% during the second quarter. Grandeur Peak Global Advisors LLC now owns 161,010 shares of the medical instruments supplier's stock worth $15,451,000 after purchasing an additional 62,287 shares during the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.

LeMaitre Vascular Price Performance

Shares of LMAT opened at $78.87 on Friday. The firm has a market cap of $1.80 billion, a PE ratio of 27.67, a price-to-earnings-growth ratio of 2.28 and a beta of 0.50. LeMaitre Vascular has a 52-week low of $78.27 and a 52-week high of $118.01. The business's 50 day moving average price is $87.60 and its two-hundred day moving average price is $98.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 13.96 and a current ratio of 16.31.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.81 by ($0.07). LeMaitre Vascular had a return on equity of 15.63% and a net margin of 25.02%.The company had revenue of $70.38 million during the quarter, compared to analyst estimates of $71.47 million. During the same quarter in the previous year, the business posted $0.60 earnings per share. The company's revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities analysts anticipate that LeMaitre Vascular will post 2.89 EPS for the current year.

LeMaitre Vascular Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, August 20th. LeMaitre Vascular's dividend payout ratio is presently 35.09%.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures and markets medical devices used primarily in the treatment of peripheral vascular disease. Its products are designed for vascular surgeons and other specialists performing procedures on arteries and veins outside the heart and brain.

The company's portfolio includes biologic and synthetic vascular grafts, thrombectomy catheters, angioplasty balloons, valvulotomes, vascular shunts, vessel-closure devices and other surgical instruments. LeMaitre also offers products used in vessel preparation, plaque removal and the repair or replacement of diseased blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular serves customers in the United States and international markets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.