Bank of New York Mellon Corp Invests $16.55 Million in LeMaitre Vascular, Inc. $LMAT

Key Points

• Bank of New York Mellon acquired a new $16.55 million stake in LeMaitre Vascular, purchasing 172,458 shares, or approximately 0.75% of the company. Institutional investors collectively own 84.64% of LMAT.
• Analyst sentiment is mixed but leans toward “Hold”: three analysts rate the stock Buy and six rate it Hold, with a consensus price target of $110.60.
• LeMaitre Vascular’s latest quarterly results fell short of expectations, with EPS of $0.74 versus $0.81 forecast and revenue of $70.38 million versus $71.47 million expected. The company declared a quarterly dividend of $0.25 per share, representing a 1.2% yield.

Bank of New York Mellon Corp acquired a new stake in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 172,458 shares of the medical instruments supplier's stock, valued at approximately $16,549,000. Bank of New York Mellon Corp owned approximately 0.75% of LeMaitre Vascular as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of LeMaitre Vascular by 144.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 391,254 shares of the medical instruments supplier's stock valued at $31,731,000 after purchasing an additional 231,157 shares during the last quarter. Bessemer Group Inc. lifted its position in LeMaitre Vascular by 292.3% in the 1st quarter. Bessemer Group Inc. now owns 171,838 shares of the medical instruments supplier's stock worth $18,759,000 after buying an additional 128,033 shares during the last quarter. Millennium Management LLC boosted 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 worth $17,722,000 after buying an additional 115,141 shares in the last quarter. First Trust Advisors LP boosted its stake in LeMaitre Vascular by 13.4% in the fourth quarter. First Trust Advisors LP now owns 940,140 shares of the medical instruments supplier's stock worth $76,245,000 after buying an additional 111,193 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in LeMaitre Vascular by 20.1% during the fourth quarter. Geode Capital Management LLC now owns 633,089 shares of the medical instruments supplier's stock valued at $51,351,000 after acquiring an additional 105,921 shares during the last quarter. 84.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on LMAT. Weiss Ratings downgraded shares of LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Citigroup reiterated a "market outperform" rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of LeMaitre Vascular from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Barrington Research lowered shares of LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 5th. Finally, Wells Fargo & Company reduced their price objective on LeMaitre Vascular from $104.00 to $94.00 and set an "equal weight" rating on the stock in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $110.60.

LeMaitre Vascular Stock Down 0.2%

Shares of LeMaitre Vascular stock opened at $80.28 on Tuesday. 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, Inc. has a 52-week low of $78.27 and a 52-week high of $118.01. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of 28.17, a P/E/G ratio of 2.32 and a beta of 0.53. The company's 50 day moving average price is $92.88 and its 200-day moving average price is $99.36.

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). The firm had revenue of $70.38 million for the quarter, compared to the consensus estimate of $71.47 million. LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The company's quarterly revenue was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Equities research analysts forecast 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 will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 20th. LeMaitre Vascular's dividend payout ratio is 35.09%.

LeMaitre Vascular Profile

LeMaitre Vascular, Inc is a specialty medical device company focused on the development, manufacture and marketing of products for the treatment of peripheral vascular disease. Headquartered in Burlington, Massachusetts, the company's offerings include a broad portfolio of vascular surgical instruments, grafts, patches, catheters and embolic protection devices. LeMaitre's product lines address key areas such as arterial reconstruction, endovascular repair and vascular access, serving the needs of cardiovascular surgeons and interventional specialists.

Founded in 1983 by George D.

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