LeMaitre Vascular (NASDAQ:LMAT) Reaches New 12-Month Low - What's Next?

Key Points

• LeMaitre Vascular shares hit a new 52-week low, trading as low as $77.83, down from the prior close of $79.29.
• Analyst sentiment is mostly cautious: the consensus rating is “Hold,” with a $108.25 average price target; recent actions included downgrades and a Wells Fargo target cut to $86.
• Quarterly EPS of $0.65 missed estimates of $0.69, although revenue rose 11.3% year over year to $67.97 million and exceeded expectations. The company also announced a $0.25 quarterly dividend.

LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) hit a new 52-week low during mid-day trading on Thursday. The company traded as low as $77.83 and last traded at $77.6050, with a volume of 68,932 shares traded. The stock had previously closed at $79.29.

Analyst Ratings Changes

A number of research firms recently commented on LMAT. Barrington Research cut LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 5th. Seaport Research Partners set a $110.00 price objective on shares of LeMaitre Vascular in a report on Thursday, November 5th. Wells Fargo & Company cut their price objective on shares of LeMaitre Vascular from $94.00 to $86.00 and set an "equal weight" rating for the company in a report on Thursday, November 5th. Citizens Jmp assumed coverage on shares of LeMaitre Vascular in a research report on Thursday, November 5th. They set a "market outperform" rating and a $110.00 price objective on the stock. Finally, Weiss Ratings downgraded shares of LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, LeMaitre Vascular currently has a consensus rating of "Hold" and a consensus target price of $108.25.

LeMaitre Vascular Stock Down 2.2%

The company's 50 day moving average is $81.44 and its 200 day moving average is $94.03. The company has a market cap of $1.77 billion, a PE ratio of 28.25, a P/E/G ratio of 2.33 and a beta of 0.51. The company has a current ratio of 14.60, a quick ratio of 12.54 and a debt-to-equity ratio of 0.39.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The medical instruments supplier reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.04). LeMaitre Vascular had a net margin of 23.51% and a return on equity of 15.33%. The business had revenue of $67.97 million for the quarter, compared to analysts' expectations of $67.39 million. During the same period in the previous year, the business earned $0.75 earnings per share. The business's quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that LeMaitre Vascular, Inc. will post 2.83 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 19th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, November 19th. LeMaitre Vascular's dividend payout ratio is currently 36.36%.

Hedge Funds Weigh In On LeMaitre Vascular

Institutional investors and hedge funds have recently modified their holdings of the business. Catalyst Capital Advisors LLC acquired a new stake in LeMaitre Vascular in the 1st quarter worth about $32,000. Sterling Capital Management LLC increased its stake in LeMaitre Vascular by 844.2% during the 3rd quarter. Sterling Capital Management LLC now owns 727 shares of the medical instruments supplier's stock worth $60,000 after buying an additional 650 shares in the last quarter. Nykredit A S acquired a new position in shares of LeMaitre Vascular during the second quarter valued at approximately $82,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of LeMaitre Vascular during the second quarter valued at approximately $102,000. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of LeMaitre Vascular by 28.4% during the first quarter. EverSource Wealth Advisors LLC now owns 1,393 shares of the medical instruments supplier's stock valued at $152,000 after acquiring an additional 308 shares during the last quarter. Hedge funds and other institutional investors own 84.64% of the company's stock.

About LeMaitre Vascular

LeMaitre Vascular develops, manufactures and markets medical devices used primarily in the treatment of vascular disease. Its products support procedures performed by vascular surgeons and include vascular grafts, embolectomy catheters, carotid shunts, valvulotomes and other instruments used in vascular surgery. Founded in 1983 by vascular surgeon George LeMaitre, the company is headquartered in Burlington, Massachusetts. Its products are sold to hospitals and medical professionals around the world through a combination of direct sales and distributors.

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