LeMaitre Vascular (NASDAQ:LMAT) Issues Earnings Results

Key Points

• Earnings beat and raised outlook: Q1 EPS of $0.68 topped estimates and revenue rose 11% YoY, and management raised FY2026 EPS guidance to $2.93–$3.08 while affirming roughly $280M in full‑year revenue guidance (~12% organic growth).
• Artegraft is the main growth engine: Artegraft sales increased ~36% in Q1, becoming the company's largest product, with planned international filings and new packaging/claim submissions expected to drive further growth in 2026–2027.
• Strong profitability and cash returns: Gross margin expanded to ~72.7% (net margin ~23%), cash from operations was $15M with $367M in cash/securities, and the company raised its quarterly dividend to $0.25/share.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) issued its quarterly earnings data on Tuesday. The medical instruments supplier reported $0.68 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.02, FiscalAI reports. The business had revenue of $66.55 million during the quarter, compared to the consensus estimate of $66.67 million. LeMaitre Vascular had a net margin of 23.13% and a return on equity of 14.72%. The firm's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. LeMaitre Vascular updated its FY 2026 guidance to 2.930-3.080 EPS and its Q2 2026 guidance to 0.790-0.840 EPS.

Here are the key takeaways from LeMaitre Vascular's conference call:

• Strong Q1 and raised full‑year outlook: Q1 delivered 11% sales growth, a 72.7% gross margin and 42% EPS growth, and the company affirmed $280M full‑year revenue guidance (≈12% organic growth) while increasing margin and EPS targets.
• Artegraft is a major growth engine: Artegraft sales rose 36% in Q1 and is now the largest product—plans include international filings (Health Canada approval; launches H2‑2026; Korea/Brazil/Vietnam/India targeted in 2027), filing for longer graft packaging in H2‑2026 (first longer‑graft sales possible H2‑2027), and an FDA pre‑submission for a Quick‑Stick AV access claim.
• Operational and financial strength: Gross‑margin expansion was driven by pricing, favorable mix (higher‑margin Artegraft) and manufacturing efficiencies; cash from operations was $15M, cash/securities were $367M, and the company continues dividends and targeted commercial investment.
• RestoreFlow and regulatory timing are mixed: RestoreFlow grew 25% in Q1 with Germany distribution starting Q2 and Ireland approval expected H2 pending audit; multiple EU and Australia filings are planned but some European implants and warehousing validations have delayed near‑term ramp, leaving timing risk.

LeMaitre Vascular Stock Performance

Shares of LMAT stock traded up $0.47 during trading on Tuesday, reaching $112.00. 225,462 shares of the company's stock traded hands, compared to its average volume of 173,958. The company has a market capitalization of $2.56 billion, a P/E ratio of 44.62, a PEG ratio of 3.21 and a beta of 0.60. The company has a current ratio of 12.89, a quick ratio of 10.95 and a debt-to-equity ratio of 0.43. The firm's 50-day moving average is $109.28 and its 200 day moving average is $94.17. LeMaitre Vascular has a 1 year low of $78.35 and a 1 year high of $118.01.

LeMaitre Vascular Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 26th. Investors of record on Thursday, March 12th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Thursday, March 12th. This is an increase from LeMaitre Vascular's previous quarterly dividend of $0.20. LeMaitre Vascular's dividend payout ratio is currently 39.84%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LMAT. Citizens Jmp boosted their target price on shares of LeMaitre Vascular from $113.00 to $118.00 and gave the company a "market outperform" rating in a research note on Thursday, February 26th. Roth Mkm reiterated a "buy" rating and issued a $117.00 target price (up from $108.00) on shares of LeMaitre Vascular in a research note on Thursday, February 26th. Weiss Ratings upgraded shares of LeMaitre Vascular from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, March 10th. Barrington Research boosted their target price on shares of LeMaitre Vascular from $95.00 to $105.00 and gave the company an "outperform" rating in a research note on Thursday, February 26th. Finally, Freedom Capital upgraded shares of LeMaitre Vascular to a "hold" rating in a research note on Tuesday, March 31st. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, LeMaitre Vascular currently has an average rating of "Moderate Buy" and an average price target of $105.80.

Insider Activity at LeMaitre Vascular

In related news, Director David B. Roberts sold 8,464 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $106.80, for a total transaction of $903,955.20. Following the sale, the director directly owned 17,979 shares in the company, valued at approximately $1,920,157.20. This represents a 32.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Trent G. Kamke sold 1,044 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $110.29, for a total transaction of $115,142.76. Following the sale, the insider owned 6,677 shares in the company, valued at $736,406.33. The trade was a 13.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 215,438 shares of company stock worth $23,062,911. 7.40% of the stock is owned by corporate insiders.

Institutional Trading of LeMaitre Vascular

A number of institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its stake in LeMaitre Vascular by 144.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 391,254 shares of the medical instruments supplier's stock worth $31,731,000 after purchasing an additional 231,157 shares in the last quarter. Millennium Management LLC lifted its stake in LeMaitre Vascular by 119.8% in the 1st quarter. Millennium Management LLC now owns 211,222 shares of the medical instruments supplier's stock worth $17,722,000 after purchasing an additional 115,141 shares in the last quarter. First Trust Advisors LP lifted its stake in LeMaitre Vascular by 13.4% in the 4th quarter. First Trust Advisors LP now owns 940,140 shares of the medical instruments supplier's stock worth $76,245,000 after purchasing an additional 111,193 shares in the last quarter. Geode Capital Management LLC lifted its stake in LeMaitre Vascular by 20.1% in the 4th quarter. Geode Capital Management LLC now owns 633,089 shares of the medical instruments supplier's stock worth $51,351,000 after purchasing an additional 105,921 shares in the last quarter. Finally, Algert Global LLC increased its holdings in LeMaitre Vascular by 356.3% during the third quarter. Algert Global LLC now owns 66,268 shares of the medical instruments supplier's stock valued at $5,799,000 after buying an additional 51,744 shares during the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting LeMaitre Vascular

Here are the key news stories impacting LeMaitre Vascular this week:

• Positive Sentiment: Earnings beat and year-over-year EPS growth — LMAT reported Q1 EPS of $0.68 vs. the Zacks consensus $0.66 and $0.48 a year ago, indicating margin strength and operating leverage. LeMaitre Vascular (LMAT) Tops Q1 Earnings Estimates
• Positive Sentiment: Management raised EPS guidance — LMAT set Q2 2026 EPS guidance of $0.79–$0.84 (above consensus $0.76) and FY2026 EPS guidance of $2.93–$3.08 (above consensus ~$2.90), signaling confidence in demand and near-term profitability. View Press Release
• Positive Sentiment: Dividend declared — the company announced a quarterly cash dividend of $0.25/share, which supports income-focused investors and can be viewed as a sign of cash-generative business. LeMaitre Q1 2026 Financial Results
• Positive Sentiment: Strong profitability metrics — Q1 net margin (~23.1%) and ROE (~14.7%) underline efficient operations and support the elevated EPS outlook. View Press Release
• Neutral Sentiment: Revenue roughly in line with expectations — Q1 revenue was $66.55M versus consensus ~$66.67M, effectively in line; this tempers but does not negate the EPS beat. LeMaitre NASDAQ: LMAT Posts Q1 CY2026 Sales In Line With Estimates
• Neutral Sentiment: Revenue guidance band roughly matches consensus — FY revenue guidance $277M–$283M brackets street estimates (~$279.5M), so upside is more EPS-driven than revenue-driven at this point. View Press Release
• Negative Sentiment: Minor revenue shortfall vs. consensus — Q1 revenue missed by about $0.12M (66.55M vs. 66.67M), which is immaterial in isolation but worth watching if the trend continues. View Press Release

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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