LeMaitre Vascular, Inc. $LMAT Stock Bought by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its LeMaitre Vascular stake by 10.1% in the third quarter, acquiring 84,618 additional shares. It now owns 924,081 shares, or 4.04% of LMAT, while institutional investors collectively hold 84.64% of the stock.
• LMAT shares opened at $81.55, near their 52-week low of $78.22 and well below the $118.01 high. The company reported quarterly revenue of $70.38 million and EPS of $0.74, both below analyst expectations, despite revenue growth of 9.6% year over year.
• LeMaitre declared a quarterly dividend of $0.25 per share, equivalent to a 1.2% yield. Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $110.60.

Copeland Capital Management LLC boosted its position in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) by 10.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 924,081 shares of the medical instruments supplier's stock after purchasing an additional 84,618 shares during the quarter. LeMaitre Vascular comprises about 1.7% of Copeland Capital Management LLC's portfolio, making the stock its 6th biggest position. Copeland Capital Management LLC owned 4.04% of LeMaitre Vascular worth $76,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sound Income Strategies LLC raised its holdings in shares of LeMaitre Vascular by 425.6% in the 1st quarter. Sound Income Strategies LLC now owns 226 shares of the medical instruments supplier's stock valued at $25,000 after purchasing an additional 183 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new stake in shares of LeMaitre Vascular in the 1st quarter worth approximately $32,000. Nykredit A S bought a new position in shares of LeMaitre Vascular during the second quarter valued at approximately $82,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of LeMaitre Vascular during the second quarter valued at approximately $102,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of LeMaitre Vascular by 28.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,393 shares of the medical instruments supplier's stock valued at $152,000 after purchasing an additional 308 shares in the last quarter. 84.64% of the stock is owned by institutional investors.

LeMaitre Vascular Trading Down 1.6%

NASDAQ:LMAT opened at $81.55 on Wednesday. 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 moving average of $80.80 and a 200 day moving average of $94.65. The company has a quick ratio of 13.96, a current ratio of 16.31 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.39 and a beta of 0.48.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.07). The firm had revenue of $70.38 million during 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%. LeMaitre Vascular'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. As a group, sell-side analysts anticipate that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on LMAT shares. Citigroup reissued a "market outperform" rating on shares of LeMaitre Vascular in a research note on Tuesday, July 21st. Weiss Ratings raised LeMaitre Vascular from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Wall Street Zen downgraded LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Wells Fargo & Company cut their price target on LeMaitre Vascular from $104.00 to $94.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 5th. Finally, Barrington Research lowered LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research report on Wednesday, August 5th. Four investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $110.60.

LeMaitre Vascular Profile

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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