BlackRock Inc. Takes $314.07 Million Position in LeMaitre Vascular, Inc. $LMAT

Key Points

• BlackRock acquired 3.27 million shares of LeMaitre Vascular in the second quarter, worth approximately $314.1 million and representing a 14.32% stake. Institutional investors collectively own 84.64% of the company.
• LeMaitre Vascular reported quarterly revenue of $70.38 million, up 9.6% year over year, but earnings of $0.74 per share missed analysts’ $0.81 estimate. Shares opened at $79.61, near their 52-week low of $78.27.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a 1.3% annual yield. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $110.60.

BlackRock Inc. acquired a new stake in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,272,973 shares of the medical instruments supplier's stock, valued at approximately $314,075,000. BlackRock Inc. owned about 14.32% of LeMaitre Vascular as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of LeMaitre Vascular by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 1,622,033 shares of the medical instruments supplier's stock valued at $131,547,000 after acquiring an additional 21,946 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake 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 during the period. First Trust Advisors LP grew its stake in LeMaitre Vascular by 6.2% in the first quarter. First Trust Advisors LP now owns 998,071 shares of the medical instruments supplier's stock worth $108,959,000 after purchasing an additional 57,931 shares in the last quarter. State Street Corp grew its position in shares of LeMaitre Vascular by 0.8% during the 4th quarter. State Street Corp now owns 806,993 shares of the medical instruments supplier's stock worth $65,447,000 after buying an additional 6,130 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in LeMaitre Vascular by 20.1% during the 4th quarter. Geode Capital Management LLC now owns 633,089 shares of the medical instruments supplier's stock worth $51,351,000 after acquiring an additional 105,921 shares in the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

LeMaitre Vascular Stock Up 0.8%

Shares of NASDAQ:LMAT opened at $79.61 on Thursday. LeMaitre Vascular, Inc. has a 52-week low of $78.27 and a 52-week high of $118.01. The stock has a market cap of $1.82 billion, a P/E ratio of 27.93, a PEG ratio of 2.28 and a beta of 0.53. The business has a fifty day moving average of $93.60 and a two-hundred day moving average of $99.51. The company has a quick ratio of 13.96, a current ratio of 16.31 and a debt-to-equity ratio of 0.40.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last posted its 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 net margin of 25.02% and a return on equity of 15.63%. The company had revenue of $70.38 million during the quarter, compared to analyst estimates of $71.47 million. During the same period in the previous year, the company earned $0.60 EPS. The company's quarterly revenue was up 9.6% compared to the same quarter last year. On average, research analysts expect that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current year.

LeMaitre Vascular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. LeMaitre Vascular's dividend payout ratio (DPR) is presently 35.09%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 14th. Citizens Jmp upped their target price on LeMaitre Vascular from $118.00 to $127.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 6th. Citigroup reissued 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 report on Saturday, August 1st. Finally, Barrington Research cut shares of LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 5th. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $110.60.

About LeMaitre Vascular

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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