LeMaitre Vascular (NASDAQ:LMAT) Rating Increased to Buy at StockNews.com

LeMaitre Vascular (NASDAQ:LMAT) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Monday.

Several other analysts have also recently weighed in on LMAT. Barrington Research raised their target price on shares of LeMaitre Vascular from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. KeyCorp initiated coverage on shares of LeMaitre Vascular in a report on Tuesday, February 6th. They set a “sector weight” rating on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, LeMaitre Vascular presently has an average rating of “Moderate Buy” and a consensus price target of $68.20.

LeMaitre Vascular Trading Up 1.4 %

NASDAQ:LMAT traded up $0.87 during mid-day trading on Monday, hitting $65.20. The stock had a trading volume of 75,265 shares, compared to its average volume of 114,829. The stock has a 50-day simple moving average of $64.14 and a two-hundred day simple moving average of $57.27. The company has a market capitalization of $1.45 billion, a PE ratio of 48.66, a PEG ratio of 2.77 and a beta of 0.87. LeMaitre Vascular has a twelve month low of $44.27 and a twelve month high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. The firm had revenue of $48.90 million for the quarter, compared to analysts’ expectations of $49.01 million. LeMaitre Vascular had a net margin of 15.56% and a return on equity of 10.57%. The firm’s revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.25 earnings per share. Sell-side analysts predict that LeMaitre Vascular will post 1.66 EPS for the current fiscal year.

Insider Activity at LeMaitre Vascular

In other LeMaitre Vascular news, Director Lawrence J. Jasinski sold 5,110 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total value of $344,925.00. Following the sale, the director now directly owns 5,309 shares of the company’s stock, valued at $358,357.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Lawrence J. Jasinski sold 5,110 shares of the company’s stock in a transaction 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 sale, the director now directly owns 5,309 shares of the company’s stock, valued at $358,357.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO George W. Lemaitre sold 36,600 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $68.03, for a total value of $2,489,898.00. Following the sale, the chief executive officer now directly owns 2,187,526 shares of the company’s stock, valued at $148,817,393.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 114,036 shares of company stock valued at $7,873,749. Corporate insiders own 12.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Comerica Bank acquired a new position in LeMaitre Vascular in the second quarter worth $114,400,000. Mesirow Institutional Investment Management Inc. acquired a new position in LeMaitre Vascular in the fourth quarter worth $8,837,000. Congress Asset Management Co. MA boosted its stake in LeMaitre Vascular by 36.3% in 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 in the last quarter. Vanguard Group Inc. lifted its stake in shares of LeMaitre Vascular by 10.1% during the first quarter. Vanguard Group Inc. now owns 1,426,235 shares of the medical instruments supplier’s stock valued at $66,278,000 after acquiring an additional 130,881 shares during the period. Finally, Ranger Investment Management L.P. lifted its stake in shares of LeMaitre Vascular by 15.8% during the third 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. 84.64% of the stock is owned by institutional investors.

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.