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 (EPS) guidance of $0.45-0.50 for the period, compared to the consensus 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 Analysts Forecast Growth

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

LeMaitre Vascular Trading Up 11.2 %

Shares of LMAT traded up $7.45 during trading hours on Friday, hitting $74.22. 329,984 shares of the stock traded hands, compared to its average volume of 110,751. The business has a fifty day moving average of $65.93 and a 200-day moving average of $58.85. The firm 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. LeMaitre Vascular has a 1-year low of $44.27 and a 1-year high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $53.48 million for the quarter, compared to analyst estimates of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 EPS. As a group, equities research analysts expect that LeMaitre Vascular will post 1.77 earnings per share for the current fiscal year.

LeMaitre Vascular Announces Dividend

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

Insider Activity

In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $69.00, for a total value of $517,500.00. Following the transaction, the director now owns 2,278 shares of the company’s stock, valued at $157,182. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other LeMaitre Vascular news, Director John A. Roush sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $69.00, for a total value of $517,500.00. Following the completion of the sale, the director now owns 2,278 shares of the company’s stock, valued at $157,182. The sale was disclosed in a legal filing 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 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 completion of the sale, the chief financial officer now owns 6,452 shares in the company, valued at $450,091.52. The disclosure for this sale can be found here. Insiders have sold a total of 114,036 shares of company stock valued at $7,873,749 in the last 90 days. 10.79% of the stock is owned by company insiders.

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.