LeMaitre Vascular (NASDAQ:LMAT) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) announced its quarterly earnings data on Thursday. The medical instruments supplier reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05, Briefing.com reports. The business had revenue of $53.48 million during the quarter, compared to the consensus estimate of $51.50 million. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. The business's revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.27 earnings per share. LeMaitre Vascular updated its Q2 guidance to $0.45-0.50 EPS and its FY24 guidance to $1.73-1.84 EPS.

LeMaitre Vascular Stock Up 11.2 %

NASDAQ:LMAT traded up $7.45 during trading hours on Friday, reaching $74.22. 329,984 shares of the stock were exchanged, compared to its average volume of 116,703. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64. The stock has a market capitalization of $1.67 billion, a P/E ratio of 55.39, a P/E/G ratio of 2.88 and a beta of 0.88. The firm has a 50 day simple moving average of $65.93 and a 200-day simple moving average of $58.71.

LeMaitre Vascular Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from LeMaitre Vascular's previous quarterly dividend of $0.14. LeMaitre Vascular's dividend payout ratio is 47.76%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. KeyCorp assumed coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They set a "sector weight" rating on the stock. Barrington Research upped their price target on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus raised shares of LeMaitre Vascular from a "hold" rating to a "buy" rating and increased their price objective for the company from $59.00 to $75.00 in a research note on Friday, April 26th. JMP Securities upped their target price on LeMaitre Vascular from $72.00 to $77.00 and gave the company a "market outperform" rating in a research note on Friday. Finally, StockNews.com cut LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $73.83.

Insiders Place Their Bets

In other news, Director John A. Roush sold 7,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $69.00, for a total transaction of $517,500.00. Following the sale, the director now directly owns 2,278 shares in the company, valued at approximately $157,182. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director John A. Roush sold 7,500 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $69.00, for a total value of $517,500.00. Following the completion of the transaction, the director now owns 2,278 shares of the company's stock, valued at $157,182. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the transaction, the chief financial officer now owns 6,452 shares in the company, valued at approximately $450,091.52. The disclosure for this sale can be found here. Insiders sold a total of 114,036 shares of company stock valued at $7,873,749 over the last 90 days. 10.79% of the stock is owned by company 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.

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