LeMaitre Vascular (NASDAQ:LMAT) Reaches New 52-Week High on Analyst Upgrade

Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) hit a new 52-week high during trading on Monday after StockNews.com upgraded the stock from a hold rating to a buy rating. The stock traded as high as $75.99 and last traded at $75.71, with a volume of 62552 shares. The stock had previously closed at $74.22.

A number of other research analysts have also weighed in on the stock. Barrington Research raised their target price on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the company an "outperform" rating in a report on Friday. KeyCorp began coverage on LeMaitre Vascular in a report on Tuesday, February 6th. They set a "sector weight" rating for the company. JMP Securities upped their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the company a "market outperform" rating in a research report on Friday. Finally, Stifel Nicolaus raised LeMaitre Vascular from a "hold" rating to a "buy" rating and upped their price objective for the company from $59.00 to $75.00 in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $73.83.

Insider Buying and Selling

In related news, Director Lawrence J. Jasinski sold 5,110 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total value of $344,925.00. Following the completion of the transaction, the director now directly owns 5,309 shares of the company's stock, valued at approximately $358,357.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of LeMaitre Vascular stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the completion of the sale, the chief financial officer now owns 6,452 shares of the company's stock, valued at $450,091.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence J. Jasinski sold 5,110 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total transaction of $344,925.00. Following the completion of the transaction, the director now owns 5,309 shares in the company, valued at approximately $358,357.50. The disclosure for this sale can be found here. Insiders sold 114,036 shares of company stock worth $7,873,749 in the last three months. 10.79% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Mesirow Institutional Investment Management Inc. acquired a new stake in shares of LeMaitre Vascular in the fourth quarter valued at about $8,837,000. Congress Asset Management Co. MA raised its stake in LeMaitre Vascular by 36.3% during the third quarter. Congress Asset Management Co. MA now owns 508,379 shares of the medical instruments supplier's stock worth $27,696,000 after purchasing an additional 135,266 shares during the period. Ranger Investment Management L.P. raised its stake in shares of LeMaitre Vascular by 15.8% in the 3rd quarter. Ranger Investment Management L.P. now owns 898,822 shares of the medical instruments supplier's stock valued at $48,968,000 after acquiring an additional 122,601 shares during the period. Summit Creek Advisors LLC raised its stake in shares of LeMaitre Vascular by 37.8% in the 4th quarter. Summit Creek Advisors LLC now owns 228,501 shares of the medical instruments supplier's stock valued at $12,970,000 after acquiring an additional 62,737 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of LeMaitre Vascular by 3.0% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,917,581 shares of the medical instruments supplier's stock valued at $104,470,000 after acquiring an additional 55,895 shares during the period. Hedge funds and other institutional investors own 84.64% of the company's stock.

LeMaitre Vascular Stock Performance

The firm's 50 day moving average is $65.93 and its two-hundred day moving average is $58.85. The stock has a market capitalization of $1.68 billion, a PE ratio of 50.18, a P/E/G ratio of 2.99 and a beta of 0.88.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.57%. The company had revenue of $53.48 million during the quarter, compared to analysts' expectations of $51.50 million. During the same quarter in the previous year, the business posted $0.27 EPS. The firm's revenue was up 13.6% on a year-over-year basis. On average, analysts anticipate that LeMaitre Vascular, Inc. will post 1.77 EPS for the current year.

LeMaitre Vascular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, May 15th. LeMaitre Vascular's dividend payout ratio (DPR) is presently 42.38%.

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.