LeMaitre Vascular (NASDAQ:LMAT) Trading 4.2% Higher Following Dividend Announcement

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) rose 4.2% during trading on Monday following a dividend announcement from the company. The stock traded as high as $80.61 and last traded at $82.04. Approximately 19,169 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 162,392 shares. The stock had previously closed at $78.70.

The newly announced dividend which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend is Thursday, May 15th. LeMaitre Vascular's dividend payout ratio is currently 40.40%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on LMAT shares. Barrington Research lowered LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Oppenheimer lowered LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Wells Fargo & Company initiated coverage on shares of LeMaitre Vascular in a research note on Thursday, February 13th. They set an "equal weight" rating and a $95.00 price target on the stock. Finally, Lake Street Capital upped their price objective on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $98.14.

LeMaitre Vascular Trading Down 0.6 %

The company has a market capitalization of $1.84 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 2.22 and a beta of 0.86. The stock's fifty day moving average is $84.57 and its 200 day moving average is $93.15.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical instruments supplier reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. The firm had revenue of $59.87 million for the quarter, compared to the consensus estimate of $57.61 million. During the same period last year, the company posted $0.44 earnings per share. The business's revenue was up 12.0% on a year-over-year basis. On average, analysts expect that LeMaitre Vascular, Inc. will post 1.94 EPS for the current fiscal year.

Insider Activity

In related news, insider Trent G. Kamke sold 2,009 shares of LeMaitre Vascular stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $82.12, for a total value of $164,979.08. Following the sale, the insider now owns 5,564 shares in the company, valued at $456,915.68. The trade was a 26.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 10.79% of the company's stock.

Institutional Investors Weigh In On LeMaitre Vascular

Several institutional investors and hedge funds have recently modified their holdings of LMAT. New York State Teachers Retirement System raised its stake in LeMaitre Vascular by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 8,189 shares of the medical instruments supplier's stock worth $755,000 after buying an additional 100 shares in the last quarter. Flputnam Investment Management Co. raised its position in shares of LeMaitre Vascular by 3.6% in the 4th quarter. Flputnam Investment Management Co. now owns 2,923 shares of the medical instruments supplier's stock worth $269,000 after acquiring an additional 102 shares in the last quarter. Norden Group LLC lifted its stake in shares of LeMaitre Vascular by 4.5% in the 4th quarter. Norden Group LLC now owns 2,371 shares of the medical instruments supplier's stock valued at $218,000 after purchasing an additional 103 shares during the period. Blue Barn Wealth LLC boosted its position in shares of LeMaitre Vascular by 4.4% during the fourth quarter. Blue Barn Wealth LLC now owns 2,485 shares of the medical instruments supplier's stock valued at $229,000 after purchasing an additional 104 shares in the last quarter. Finally, Shaker Investments LLC OH grew its stake in LeMaitre Vascular by 0.8% in the fourth quarter. Shaker Investments LLC OH now owns 13,948 shares of the medical instruments supplier's stock worth $1,285,000 after purchasing an additional 112 shares during the period. 84.64% of the stock is owned by hedge funds and other institutional investors.

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.