LeMaitre Vascular (NASDAQ:LMAT) Stock Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• LMAT crossed above its 50-day moving average, reaching $82.39 before closing near $81.26; however, it remains below its 200-day average of $94.18.
• Analyst sentiment is cautious: three analysts rate the stock Buy and six rate it Hold, producing a consensus Hold rating despite an average price target of $110.60.
• LeMaitre Vascular’s latest quarterly results missed expectations, with EPS of $0.74 versus $0.81 forecast and revenue of $70.38 million versus $71.47 million, though revenue increased 9.6% year over year.

LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $81.19 and traded as high as $82.39. LeMaitre Vascular shares last traded at $81.26, with a volume of 270,727 shares trading hands.

Analyst Upgrades and Downgrades

LMAT has been the subject of a number of analyst reports. Zacks Research cut LeMaitre Vascular from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen lowered LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Weiss Ratings downgraded LeMaitre Vascular from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, October 23rd. Barrington Research lowered LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Wednesday, August 5th. Finally, Citigroup restated a "market outperform" rating on shares of LeMaitre Vascular in a report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, LeMaitre Vascular presently has a consensus rating of "Hold" and an average target price of $110.60.

LeMaitre Vascular Stock Performance

The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 2.39 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 13.96 and a current ratio of 16.31. The stock's 50-day simple moving average is $81.19 and its two-hundred day simple moving average is $94.18.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last released its quarterly earnings results on Tuesday, August 4th. The medical instruments supplier reported $0.74 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.07). LeMaitre Vascular had a net margin of 25.02% and a return on equity of 15.63%. The firm had revenue of $70.38 million for the quarter, compared to the consensus estimate of $71.47 million. During the same quarter last year, the company earned $0.60 earnings per share. The firm's revenue was up 9.6% on a year-over-year basis. Analysts forecast that LeMaitre Vascular, Inc. will post 2.89 earnings per share for the current year.

Institutional Trading of LeMaitre Vascular

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Pictet Asset Management Holding SA lifted its stake in shares of LeMaitre Vascular by 5.5% in the first quarter. Pictet Asset Management Holding SA now owns 3,259 shares of the medical instruments supplier's stock valued at $356,000 after buying an additional 169 shares during the period. Sound Income Strategies LLC increased its stake in LeMaitre Vascular by 425.6% during the first quarter. Sound Income Strategies LLC now owns 226 shares of the medical instruments supplier's stock valued at $25,000 after acquiring an additional 183 shares during the period. Catalyst Capital Advisors LLC bought a new position in LeMaitre Vascular during the first quarter valued at about $32,000. EverSource Wealth Advisors LLC increased its stake in 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 period. Finally, Van ECK Associates Corp raised its holdings in LeMaitre Vascular by 21.2% in the 2nd quarter. Van ECK Associates Corp now owns 2,574 shares of the medical instruments supplier's stock valued at $247,000 after acquiring an additional 451 shares in the last quarter. Institutional investors and hedge funds own 84.64% of the company's stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc is a medical device company focused on the treatment of peripheral vascular disease. The company develops, manufactures and markets products used primarily by vascular surgeons and other specialists in open vascular surgery procedures.

Its product portfolio includes biological and synthetic vascular grafts, carotid shunts, embolectomy and thrombectomy catheters, valvulotomes, vessel closure devices, vascular patches and surgical instruments. These products are designed to support procedures involving the arteries and veins, including the repair, reconstruction and treatment of diseased or obstructed blood vessels.

Founded in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular sells its products through a combination of direct sales personnel and distributors.

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