LeMaitre Vascular (NASDAQ:LMAT) Trading Down 5.4% on Disappointing Earnings

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) were down 5.4% during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $83.43 and last traded at $85.33. Approximately 57,542 shares traded hands during trading, a decline of 64% from the average daily volume of 161,492 shares. The stock had previously closed at $90.24.

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 analyst estimates of $57.61 million. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. LeMaitre Vascular's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the firm posted $0.44 EPS.

LeMaitre Vascular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, May 15th. LeMaitre Vascular's payout ratio is 41.24%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on LMAT shares. Oppenheimer cut LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Wells Fargo & Company initiated coverage on LeMaitre Vascular in a research note on Thursday, February 13th. They issued an "equal weight" rating and a $95.00 price objective for the company. Lake Street Capital raised their price objective on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, Barrington Research lowered shares of LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.14.

Insiders Place Their Bets

In other news, insider Trent G. Kamke sold 2,009 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.12, for a total transaction of $164,979.08. Following the completion of the sale, the insider now directly owns 5,564 shares in the company, valued at $456,915.68. This represents a 26.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 10.79% of the company's stock.

Institutional Trading of LeMaitre Vascular

A number of large investors have recently bought and sold shares of LMAT. Opal Wealth Advisors LLC bought a new stake in shares of LeMaitre Vascular during the 1st quarter valued at about $26,000. NBC Securities Inc. bought a new position in shares of LeMaitre Vascular during the 1st quarter worth approximately $36,000. Smartleaf Asset Management LLC boosted its holdings in shares of LeMaitre Vascular by 234.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 418 shares of the medical instruments supplier's stock worth $39,000 after buying an additional 293 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in shares of LeMaitre Vascular by 38.5% during the 4th quarter. CBIZ Investment Advisory Services LLC now owns 421 shares of the medical instruments supplier's stock worth $39,000 after buying an additional 117 shares during the period. Finally, KBC Group NV increased its stake in shares of LeMaitre Vascular by 58.4% in the 4th quarter. KBC Group NV now owns 1,112 shares of the medical instruments supplier's stock valued at $102,000 after acquiring an additional 410 shares in the last quarter. 84.64% of the stock is currently owned by institutional investors and hedge funds.

LeMaitre Vascular Trading Down 12.8 %

The company has a market cap of $1.78 billion, a price-to-earnings ratio of 43.01, a P/E/G ratio of 2.22 and a beta of 0.89. The stock's 50-day moving average is $85.58 and its 200-day moving average is $93.37.

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.