Congress Asset Management Co. Decreases Stake in LeMaitre Vascular, Inc. (NASDAQ:LMAT)

Congress Asset Management Co. reduced its position in LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 644,415 shares of the medical instruments supplier's stock after selling 77,910 shares during the period. Congress Asset Management Co. owned 2.86% of LeMaitre Vascular worth $54,066,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. New York State Teachers Retirement System increased its stake in LeMaitre Vascular by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 8,189 shares of the medical instruments supplier's stock worth $755,000 after acquiring an additional 100 shares during the last quarter. Flputnam Investment Management Co. increased its stake in LeMaitre Vascular by 3.6% during the fourth quarter. Flputnam Investment Management Co. now owns 2,923 shares of the medical instruments supplier's stock worth $269,000 after acquiring an additional 102 shares during the last quarter. Norden Group LLC increased its stake in LeMaitre Vascular by 4.5% during the fourth quarter. Norden Group LLC now owns 2,371 shares of the medical instruments supplier's stock worth $218,000 after acquiring an additional 103 shares during the last quarter. Blue Barn Wealth LLC increased its stake in LeMaitre Vascular by 4.4% during the fourth quarter. Blue Barn Wealth LLC now owns 2,485 shares of the medical instruments supplier's stock worth $229,000 after acquiring an additional 104 shares during the last quarter. Finally, Shaker Investments LLC OH increased its stake in LeMaitre Vascular by 0.8% during the fourth quarter. Shaker Investments LLC OH now owns 13,948 shares of the medical instruments supplier's stock worth $1,285,000 after acquiring an additional 112 shares during the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

LeMaitre Vascular Stock Performance

LMAT opened at $84.13 on Friday. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 45.97, a P/E/G ratio of 2.22 and a beta of 0.83. The stock's 50 day moving average price is $83.71 and its 200-day moving average price is $91.10. LeMaitre Vascular, Inc. has a one year low of $71.42 and a one year high of $109.58.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last released its earnings results on Thursday, May 1st. The medical instruments supplier reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). The business had revenue of $59.87 million for the quarter, compared to the consensus estimate of $57.61 million. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.44 EPS. As a group, analysts predict that LeMaitre Vascular, Inc. will post 1.94 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Investors of record on Thursday, May 15th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.95%. LeMaitre Vascular's payout ratio is 40.40%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LMAT shares. Lake Street Capital boosted their price objective on LeMaitre Vascular from $105.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. Wells Fargo & Company began coverage on LeMaitre Vascular in a research note on Thursday, February 13th. They set an "equal weight" rating and a $95.00 target price on the stock. Oppenheimer cut LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Finally, Barrington Research cut LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $97.83.

Insider Activity at LeMaitre Vascular

In related news, CEO George W. Lemaitre sold 4,399 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $85.10, for a total value of $374,354.90. Following the completion of the sale, the chief executive officer now owns 1,827,003 shares in the company, valued at approximately $155,477,955.30. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Trent G. Kamke sold 2,009 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.12, for a total value of $164,979.08. Following the completion of the sale, the insider now owns 5,564 shares of the company's stock, valued at $456,915.68. The trade was a 26.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,009 shares of company stock worth $8,721,836. Company insiders own 9.50% of the company's stock.

LeMaitre Vascular Company Profile

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.

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