140,936 Shares of LeMaitre Vascular, Inc. $LMAT Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 140,936 shares of LeMaitre Vascular in the second quarter, worth approximately $13.5 million and representing 0.62% of the company. Institutional investors collectively own 84.64% of LMAT.
• LeMaitre Vascular reported quarterly earnings of $0.74 per share, below the $0.81 consensus estimate, while revenue rose 9.6% year over year to $70.38 million. The company also pays a quarterly dividend of $0.25 per share, yielding about 1.2% annually.
• Analyst sentiment is cautious, with a consensus rating of “Hold” and an average price target of $110.60; several firms recently downgraded the stock or lowered their targets.

Bank of America Corp DE bought a new position in LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 140,936 shares of the medical instruments supplier's stock, valued at approximately $13,524,000. Bank of America Corp DE owned 0.62% of LeMaitre Vascular at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of LeMaitre Vascular during the second quarter valued at $314,075,000. Conestoga Capital Advisors LLC lifted its position in LeMaitre Vascular by 3.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 1,476,813 shares of the medical instruments supplier's stock worth $161,224,000 after buying an additional 51,825 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of LeMaitre Vascular by 6.2% during the 1st quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier's stock valued at $108,959,000 after buying an additional 57,931 shares during the period. Ranger Investment Management L.P. acquired a new stake in shares of LeMaitre Vascular during the 2nd quarter valued at $21,045,000. Finally, Rice Hall James & Associates LLC grew its holdings in shares of LeMaitre Vascular by 1.3% during the 1st quarter. Rice Hall James & Associates LLC now owns 184,725 shares of the medical instruments supplier's stock valued at $20,166,000 after acquiring an additional 2,449 shares in the last quarter. 84.64% of the stock is owned by hedge funds and other institutional investors.

LeMaitre Vascular Stock Up 0.9%

NASDAQ:LMAT opened at $81.52 on Friday. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 28.60, a P/E/G ratio of 2.33 and a beta of 0.50. The company has a debt-to-equity ratio of 0.40, a quick ratio of 13.96 and a current ratio of 16.31. The stock's fifty day moving average price is $85.61 and its two-hundred day moving average price is $97.13. LeMaitre Vascular, Inc. has a 52-week low of $78.22 and a 52-week high of $118.01.

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

LeMaitre Vascular Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 20th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 20th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. LeMaitre Vascular's payout ratio is currently 35.09%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on LMAT. Wells Fargo & Company dropped their target price on LeMaitre Vascular from $104.00 to $94.00 and set an "equal weight" rating on the stock 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 research report on Saturday, August 1st. Weiss Ratings cut shares of LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Zacks Research downgraded shares of LeMaitre Vascular from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Finally, Citigroup restated a "market outperform" rating on shares of LeMaitre Vascular in a research note on Tuesday, July 21st. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $110.60.

LeMaitre Vascular Company Profile

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.

Want to see what other hedge funds are holding LMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report).

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.