LeMaitre Vascular (NASDAQ:LMAT) Updates Q2 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its second quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.45-0.50 for the period, compared to the consensus earnings per share estimate of $0.44. The company issued revenue guidance of $53.7-56.1 million, compared to the consensus revenue estimate of $54.29 million. LeMaitre Vascular also updated its FY24 guidance to $1.73-1.84 EPS.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LMAT shares. Stifel Nicolaus upgraded shares of 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 report on Friday, April 26th. StockNews.com cut shares of LeMaitre Vascular from a buy rating to a hold rating in a research report on Tuesday, April 16th. KeyCorp initiated coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They set a sector weight rating on the stock. Finally, Barrington Research lifted their price target on LeMaitre Vascular from $66.00 to $69.00 and gave the stock an outperform rating in a research note on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, LeMaitre Vascular currently has a consensus rating of Moderate Buy and an average price target of $69.33.

LeMaitre Vascular Price Performance

Shares of NASDAQ LMAT traded down $0.01 during mid-day trading on Thursday, hitting $66.77. 176,660 shares of the stock traded hands, compared to its average volume of 114,195. The company has a market cap of $1.50 billion, a PE ratio of 49.28, a price-to-earnings-growth ratio of 2.79 and a beta of 0.88. LeMaitre Vascular has a twelve month low of $44.27 and a twelve month high of $74.64. The firm has a 50 day simple moving average of $65.56 and a two-hundred day simple moving average of $58.47.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings data on Tuesday, February 27th. The medical instruments supplier reported $0.38 EPS for the quarter, beating the consensus estimate of $0.36 by $0.02. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. The business had revenue of $48.90 million for the quarter, compared to the consensus estimate of $49.01 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. LeMaitre Vascular’s revenue for the quarter was up 19.3% on a year-over-year basis. On average, equities research analysts anticipate that LeMaitre Vascular will post 1.66 earnings per share for the current fiscal year.

LeMaitre Vascular Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.16 per share. This is a positive change from LeMaitre Vascular’s previous quarterly dividend of $0.14. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Wednesday, March 13th. LeMaitre Vascular’s dividend payout ratio is currently 47.76%.

Insiders Place Their Bets

In other LeMaitre Vascular news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $69.76, for a total transaction of $2,578,817.92. Following the sale, the chief financial officer now directly owns 6,452 shares in the company, valued at approximately $450,091.52. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO George W. Lemaitre sold 36,600 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $68.03, for a total value of $2,489,898.00. Following the completion of the sale, the chief executive officer now 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 the SEC website. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were 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 directly owns 6,452 shares in the company, valued at $450,091.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 114,036 shares of company stock worth $7,873,749. Company insiders own 10.79% of the company’s stock.

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.