LeMaitre Vascular (NASDAQ:LMAT) Releases FY24 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.73-1.84 for the period, compared to the consensus estimate of $1.65. The company issued revenue guidance of $212.7-217.3 million, compared to the consensus revenue estimate of $211.69 million. LeMaitre Vascular also updated its Q2 guidance to $0.45-0.50 EPS.

LeMaitre Vascular Price Performance

LMAT stock traded up $7.45 during trading hours on Friday, reaching $74.22. The stock had a trading volume of 329,984 shares, compared to its average volume of 110,751. The stock has a market capitalization of $1.67 billion, a PE ratio of 49.15, a price-to-earnings-growth ratio of 3.20 and a beta of 0.88. The stock has a 50-day simple moving average of $65.93 and a 200 day simple moving average of $58.85. LeMaitre Vascular has a fifty-two week low of $44.27 and a fifty-two week high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The business had revenue of $53.48 million for the quarter, compared to analyst estimates of $51.50 million. During the same quarter in the prior year, the business earned $0.27 EPS. LeMaitre Vascular’s quarterly revenue was up 13.6% on a year-over-year basis. On average, sell-side analysts forecast that LeMaitre Vascular will post 1.77 EPS for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.86%. The ex-dividend date is Wednesday, May 15th. LeMaitre Vascular’s payout ratio is 42.38%.

Analysts Set New Price Targets

Several research analysts have weighed in on LMAT shares. StockNews.com upgraded LeMaitre Vascular from a hold rating to a buy rating in a research report on Friday. 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 increased their price objective on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a research report on Friday. JMP Securities increased their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a research report on Friday. Finally, Stifel Nicolaus upgraded LeMaitre Vascular from a hold rating to a buy rating and increased their price objective for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, LeMaitre Vascular presently has an average rating of Moderate Buy and a consensus target price of $73.83.

Insider Buying and Selling

In other news, CEO George W. Lemaitre sold 27,859 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $69.73, for a total value of $1,942,608.07. Following the sale, the chief executive officer now directly owns 2,255,737 shares in the company, valued at approximately $157,292,541.01. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other LeMaitre Vascular news, CEO George W. Lemaitre sold 27,859 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.73, for a total value of $1,942,608.07. Following the completion of the transaction, the chief executive officer now owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Lawrence J. Jasinski sold 5,110 shares of LeMaitre Vascular stock in a transaction dated Tuesday, March 5th. The shares were 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 in the company, valued at $358,357.50. The disclosure for this sale can be found here. Over 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.

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.