LeMaitre Vascular, Inc. (NASDAQ:LMAT) Stock Has Consensus Target Price of $105.60

Key Points

• Analysts have a consensus “Hold” rating on LeMaitre Vascular, with six holds and three buys among nine brokerages; their average 12-month price target is $105.60, versus shares opening at $80.89.
• Third-quarter revenue increased 11.3% year over year to $67.97 million, slightly topping estimates, but EPS of $0.65 missed the $0.69 consensus and was down from $0.75 a year earlier.
• The company declared a quarterly dividend of $0.25 per share, equivalent to $1.00 annually and a 1.2% yield at the reported share price.

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) have received an average rating of "Hold" from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $105.60.

A number of brokerages recently weighed in on LMAT. Wells Fargo & Company reduced their price objective on LeMaitre Vascular from $94.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Thursday. Citigroup reissued a "market outperform" rating on shares of LeMaitre Vascular in a research note on Thursday. Wall Street Zen cut LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Barrington Research cut LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 5th. Finally, Weiss Ratings downgraded LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd.

LeMaitre Vascular Stock Performance

Shares of LMAT stock opened at $80.89 on Monday. LeMaitre Vascular has a 12-month low of $78.22 and a 12-month high of $118.01. The company has a market capitalization of $1.85 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 2.38 and a beta of 0.51. The firm has a 50 day moving average price of $81.48 and a two-hundred day moving average price of $94.11. The company has a quick ratio of 12.54, a current ratio of 14.60 and a debt-to-equity ratio of 0.39.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last released 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 business had revenue of $67.97 million during the quarter, compared to analyst estimates of $67.39 million. LeMaitre Vascular had a net margin of 23.51% and a return on equity of 15.33%. The company's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the company posted $0.75 earnings per share. As a group, analysts predict that LeMaitre Vascular will post 2.83 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 19th. LeMaitre Vascular's dividend payout ratio is currently 36.36%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE bought a new position in shares of LeMaitre Vascular in the second quarter worth approximately $13,524,000. The Manufacturers Life Insurance Company bought a new stake in LeMaitre Vascular during the 2nd quarter valued at $1,047,000. Legal & General Group Plc bought a new stake in LeMaitre Vascular during the 2nd quarter valued at $4,840,000. Copeland Capital Management LLC raised its holdings in LeMaitre Vascular by 10.1% during the 3rd quarter. Copeland Capital Management LLC now owns 924,081 shares of the medical instruments supplier's stock valued at $76,320,000 after buying an additional 84,618 shares during the last quarter. Finally, Corient Private Wealth LP purchased a new stake in LeMaitre Vascular during the 2nd quarter valued at $2,458,000. Institutional investors and hedge funds own 84.64% of the company's stock.

Trending Headlines about LeMaitre Vascular

Here are the key news stories impacting LeMaitre Vascular this week:

• Positive Sentiment: Citizens JMP initiated coverage with a “Market Outperform” rating and a $110 price target, implying substantial upside from the share price cited in the report. Citizens JMP price target
• Positive Sentiment: Third-quarter revenue rose 11.3% year over year to $67.97 million, topping analysts’ expectations of $67.39 million. The company also declared a $0.25 dividend. Quarterly results Dividend announcement
• Neutral Sentiment: Management plans to participate in three upcoming investor conferences; the announcement did not provide new financial guidance. Investor conferences
• Negative Sentiment: Third-quarter EPS of $0.65 missed the $0.69 consensus and declined from $0.75 a year earlier. Reports also pointed to a cautious outlook, which may outweigh the revenue beat and help explain investor concern. Q3 earnings miss Q3 outlook analysis
• Negative Sentiment: Barrington lowered its price target to $91 from $95, though it maintained an Outperform rating. The reduced target signals less near-term upside in that firm’s view. Barrington price-target change

About LeMaitre Vascular

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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