Townsquare Capital LLC Sells 7,622 Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT)

Key Points

• Townsquare Capital LLC reduced its holdings in LeMaitre Vascular, Inc. by 13.9%, owning 47,384 shares valued at approximately $3.98 million after the sale.
• CEO George W. LeMaitre sold 100,000 shares for $9.35 million, resulting in a 5.47% decrease in his ownership of the stock.
• LeMaitre Vascular's quarterly earnings showed a profit of $0.60 per share, exceeding analysts' expectations, with a revenue increase of 15.0% year-over-year.

Townsquare Capital LLC trimmed its position in LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) by 13.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,384 shares of the medical instruments supplier's stock after selling 7,622 shares during the period. Townsquare Capital LLC owned 0.21% of LeMaitre Vascular worth $3,975,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LMAT. Blueshift Asset Management LLC bought a new stake in shares of LeMaitre Vascular during the 1st quarter worth $232,000. US Bancorp DE lifted its holdings in shares of LeMaitre Vascular by 36.0% during the 1st quarter. US Bancorp DE now owns 1,390 shares of the medical instruments supplier's stock worth $117,000 after acquiring an additional 368 shares during the last quarter. Vestcor Inc lifted its holdings in shares of LeMaitre Vascular by 108.0% during the 1st quarter. Vestcor Inc now owns 3,079 shares of the medical instruments supplier's stock worth $258,000 after acquiring an additional 1,599 shares during the last quarter. Federated Hermes Inc. lifted its holdings in shares of LeMaitre Vascular by 1.3% during the 1st quarter. Federated Hermes Inc. now owns 39,504 shares of the medical instruments supplier's stock worth $3,314,000 after acquiring an additional 518 shares during the last quarter. Finally, Cetera Investment Advisers lifted its holdings in shares of LeMaitre Vascular by 209.6% during the 1st quarter. Cetera Investment Advisers now owns 8,522 shares of the medical instruments supplier's stock worth $715,000 after acquiring an additional 5,769 shares during the last quarter. 84.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barrington Research raised shares of LeMaitre Vascular from a "market perform" rating to an "outperform" rating and set a $95.00 price objective for the company in a report on Wednesday, August 6th. Cantor Fitzgerald boosted their price target on shares of LeMaitre Vascular from $92.00 to $95.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $98.00.

LeMaitre Vascular Trading Up 1.9%

LeMaitre Vascular stock traded up $1.76 during mid-day trading on Tuesday, hitting $94.38. The company's stock had a trading volume of 215,588 shares, compared to its average volume of 156,905. The company has a debt-to-equity ratio of 0.46, a current ratio of 13.96 and a quick ratio of 11.74. The stock has a market cap of $2.14 billion, a price-to-earnings ratio of 45.82, a price-to-earnings-growth ratio of 2.38 and a beta of 0.79. The business has a 50 day moving average price of $83.82 and a 200-day moving average price of $86.52. LeMaitre Vascular, Inc. has a 12 month low of $71.42 and a 12 month high of $109.58.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The medical instruments supplier reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $63.15 million during the quarter, compared to the consensus estimate of $62.48 million. LeMaitre Vascular had a net margin of 20.08% and a return on equity of 13.67%. The firm's revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, analysts forecast that LeMaitre Vascular, Inc. will post 1.94 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be given a $0.20 dividend. The ex-dividend date is Thursday, August 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.8%. LeMaitre Vascular's payout ratio is presently 38.83%.

Insider Activity

In other news, CEO George W. Lemaitre sold 100,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $93.51, for a total transaction of $9,351,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,727,003 shares of the company's stock, valued at approximately $161,492,050.53. This represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 200,000 shares of company stock valued at $17,907,857 in the last 90 days. 9.50% of the stock is currently owned by insiders.

About LeMaitre Vascular

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.