Annex Advisory Services LLC Sells 226,849 Shares of LeMaitre Vascular, Inc. $LMAT

Key Points

• Annex Advisory Services LLC cut its LeMaitre Vascular stake by 91.4%, selling 226,849 shares and retaining 21,404 shares valued at approximately $1.77 million.
• Institutional investors own 84.64% of LMAT, with several funds—including Copeland Capital Management and Corient Private Wealth—recently increasing their positions.
• Analysts hold a consensus “Hold” rating with an average price target of $110.60, while the stock recently traded near $80.82 after the company missed quarterly earnings and revenue estimates.

Annex Advisory Services LLC decreased its position in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) by 91.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,404 shares of the medical instruments supplier's stock after selling 226,849 shares during the period. Annex Advisory Services LLC owned 0.09% of LeMaitre Vascular worth $1,768,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Copeland Capital Management LLC lifted its holdings in shares of LeMaitre Vascular by 10.1% in the third 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 period. Tidal Investments LLC bought a new position in LeMaitre Vascular during the second quarter valued at about $526,000. Engineers Gate Manager LP boosted its stake in 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 buying an additional 3,888 shares in the last quarter. Nykredit A S acquired a new position in LeMaitre Vascular during the second quarter worth about $82,000. Finally, Corient Private Wealth LP grew 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 acquiring an additional 9,875 shares during the period. Institutional investors own 84.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LMAT. Zacks Research downgraded shares of LeMaitre Vascular from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings upgraded shares of LeMaitre Vascular from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Barrington Research lowered shares of LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 5th. Citigroup reaffirmed a "market outperform" rating on shares of LeMaitre Vascular in a research note on Tuesday, July 21st. Finally, Wells Fargo & Company dropped their target price on shares of LeMaitre Vascular from $104.00 to $94.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, LeMaitre Vascular has a consensus rating of "Hold" and an average target price of $110.60.

LeMaitre Vascular Stock Down 2.8%

Shares of NASDAQ:LMAT opened at $80.82 on Friday. 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 company has a market cap of $1.85 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 2.33 and a beta of 0.48. LeMaitre Vascular, Inc. has a 52 week low of $78.22 and a 52 week high of $118.01. The firm has a 50 day simple moving average of $80.90 and a 200 day simple moving average of $94.20.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last posted 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 analysts' expectations of $71.47 million. LeMaitre Vascular had a return on equity of 15.63% and a net margin of 25.02%. The company's revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. As a group, research analysts expect that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current year.

LeMaitre Vascular Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, August 20th. LeMaitre Vascular's dividend payout ratio is 35.09%.

About LeMaitre Vascular

LeMaitre Vascular, Inc is a medical device company that develops, manufactures and markets products used primarily in the treatment of peripheral vascular disease. Its products are designed for vascular surgeons and other specialists performing procedures on blood vessels outside the heart and brain, including procedures involving the carotid, lower-extremity and aortic vascular systems.

The company's product portfolio includes biologic and synthetic vascular grafts, angioplasty and thrombectomy catheters, valvulotomes, carotid shunts, vascular clamps and other devices used in open and minimally invasive vascular surgery.

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