LeMaitre Vascular (NASDAQ:LMAT) Issues Q2 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 0.450-0.500 for the period, compared to the consensus estimate of 0.440. The company issued revenue guidance of $53.7 million-$56.1 million, compared to the consensus revenue estimate of $54.3 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.730-1.840 EPS.

LeMaitre Vascular Price Performance

Shares of LeMaitre Vascular stock traded up $7.45 during trading hours on Friday, hitting $74.22. 329,984 shares of the company's stock traded hands, compared to its average volume of 116,703. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 55.39, a PEG ratio of 2.88 and a beta of 0.88. LeMaitre Vascular has a 12-month low of $44.27 and a 12-month high of $74.64. The company has a fifty day simple moving average of $65.69 and a 200-day simple moving average of $58.53.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last posted its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $53.48 million during the quarter, compared to analyst estimates of $51.50 million. LeMaitre Vascular had a net margin of 15.56% and a return on equity of 10.57%. The firm's revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. On average, analysts forecast that LeMaitre Vascular will post 1.66 EPS for the current fiscal year.

LeMaitre Vascular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued 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 was Wednesday, March 13th. This is a boost from LeMaitre Vascular's previous quarterly dividend of $0.14. LeMaitre Vascular's payout ratio is 47.76%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. KeyCorp started coverage on 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 shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a report on Friday. JMP Securities lifted their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research note on Friday. Stifel Nicolaus upgraded LeMaitre Vascular from a hold rating to a buy rating and upped their target price for the stock from $59.00 to $75.00 in a research note on Friday, April 26th. 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 given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $73.83.

Insider Activity at LeMaitre Vascular

In other LeMaitre Vascular news, CEO George W. Lemaitre sold 36,600 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the transaction, the chief executive officer now directly owns 2,187,526 shares in the company, valued at $148,817,393.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other LeMaitre Vascular news, CEO George W. Lemaitre sold 36,600 shares of the company's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $68.03, for a total transaction of $2,489,898.00. Following the completion of the sale, the chief executive officer now directly owns 2,187,526 shares in the company, valued at $148,817,393.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 value of $2,578,817.92. Following the completion of 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. In the last three months, insiders have sold 114,036 shares of company stock valued at $7,873,749. Corporate insiders own 10.79% of the company's stock.

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.