LeMaitre Vascular, Inc. $LMAT Stock Position Raised by Grandeur Peak Global Advisors LLC

Key Points

• Grandeur Peak Global Advisors increased its LeMaitre Vascular stake by 63.1% in the second quarter, reaching 161,010 shares valued at about $15.5 million. Institutional investors collectively own 84.64% of LMAT.
• LeMaitre Vascular’s latest quarterly results fell short of expectations, with adjusted EPS of $0.74 versus the $0.81 consensus and revenue of $70.38 million versus $71.47 million expected. Revenue nevertheless increased 9.6% year over year.
• Analyst sentiment is currently cautious, with a consensus “Hold” rating and an average price target of $110.60. The company also declared a quarterly dividend of $0.25 per share, representing a 1.2% annualized yield.

Grandeur Peak Global Advisors LLC boosted its stake in LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) by 63.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,010 shares of the medical instruments supplier's stock after purchasing an additional 62,287 shares during the period. LeMaitre Vascular makes up approximately 3.8% of Grandeur Peak Global Advisors LLC's holdings, making the stock its 7th largest position. Grandeur Peak Global Advisors LLC owned about 0.70% of LeMaitre Vascular worth $15,451,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in LMAT. BlackRock Inc. purchased a new position in shares of LeMaitre Vascular in the 2nd quarter worth $314,075,000. Vanguard Group Inc. increased its position in LeMaitre Vascular by 1.4% during the fourth 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 position in LeMaitre Vascular by 3.6% during the first quarter. Conestoga Capital Advisors LLC now owns 1,476,813 shares of the medical instruments supplier's stock valued at $161,224,000 after acquiring an additional 51,825 shares during the last quarter. First Trust Advisors LP lifted its holdings 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 valued at $108,959,000 after acquiring an additional 57,931 shares during the period. Finally, State Street Corp lifted its holdings in LeMaitre Vascular by 0.8% in the fourth quarter. State Street Corp now owns 806,993 shares of the medical instruments supplier's stock valued at $65,447,000 after acquiring an additional 6,130 shares during the period. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

LeMaitre Vascular Price Performance

Shares of LeMaitre Vascular stock opened at $80.45 on Monday. The stock's 50-day simple moving average is $93.04 and its 200-day simple moving average is $99.41. LeMaitre Vascular, Inc. has a 52 week low of $78.27 and a 52 week high of $118.01. The company has a market capitalization of $1.84 billion, a price-to-earnings ratio of 28.23, a PEG ratio of 2.32 and a beta of 0.53. 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 released its 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 business 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 business's revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. As a group, analysts expect that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

The business 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Thursday, August 20th. LeMaitre Vascular's dividend payout ratio (DPR) is 35.09%.

Analyst Ratings Changes

A number of research firms have issued reports on LMAT. Weiss Ratings downgraded LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 14th. Wells Fargo & Company dropped their price objective 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. Citigroup reissued a "market outperform" rating on shares of LeMaitre Vascular in a research report on Tuesday, July 21st. Barrington Research downgraded LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research note on Wednesday, August 5th. Finally, Citizens Jmp increased their target price on shares of LeMaitre Vascular from $118.00 to $127.00 and gave the stock a "market outperform" rating in a report on Wednesday, May 6th. Three research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $110.60.

LeMaitre Vascular Company 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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