LeMaitre Vascular (LMAT) Trading Down 1.6% Following Analyst Downgrade

LeMaitre Vascular Inc (NASDAQ:LMAT) dropped 1.6% during trading on Monday after Canaccord Genuity lowered their price target on the stock from $40.00 to $32.00. Canaccord Genuity currently has a hold rating on the stock. LeMaitre Vascular traded as low as $26.99 and last traded at $28.06. Approximately 7,329 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 147,511 shares. The stock had previously closed at $28.53.

LMAT has been the topic of several other reports. ValuEngine cut shares of LeMaitre Vascular from a “hold” rating to a “sell” rating in a research note on Saturday. BidaskClub raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Thursday, June 28th. Lake Street Capital initiated coverage on shares of LeMaitre Vascular in a research note on Monday, June 25th. They set a “buy” rating and a $45.00 price target on the stock. Finally, Zacks Investment Research cut shares of LeMaitre Vascular from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $36.63.

In related news, Chairman George W. Lemaitre sold 14,180 shares of the firm’s stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $37.61, for a total value of $533,309.80. Following the sale, the chairman now directly owns 3,118,266 shares of the company’s stock, valued at $117,277,984.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David B. Roberts sold 21,005 shares of the firm’s stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $35.72, for a total transaction of $750,298.60. Following the completion of the sale, the director now directly owns 5,373 shares in the company, valued at $191,923.56. The disclosure for this sale can be found here. Insiders sold 97,506 shares of company stock worth $3,608,759 over the last three months. Corporate insiders own 20.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in LeMaitre Vascular by 4.0% in the second quarter. BlackRock Inc. now owns 2,425,454 shares of the medical instruments supplier’s stock valued at $81,202,000 after buying an additional 93,615 shares during the period. Conestoga Capital Advisors LLC raised its holdings in LeMaitre Vascular by 8.9% in the second quarter. Conestoga Capital Advisors LLC now owns 1,392,591 shares of the medical instruments supplier’s stock valued at $46,624,000 after buying an additional 113,705 shares during the period. Dimensional Fund Advisors LP raised its holdings in LeMaitre Vascular by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,006,078 shares of the medical instruments supplier’s stock valued at $33,684,000 after buying an additional 2,824 shares during the period. Epoch Investment Partners Inc. raised its holdings in LeMaitre Vascular by 20.8% in the second quarter. Epoch Investment Partners Inc. now owns 932,093 shares of the medical instruments supplier’s stock valued at $31,207,000 after buying an additional 160,754 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in LeMaitre Vascular by 14.4% in the second quarter. Janus Henderson Group PLC now owns 691,670 shares of the medical instruments supplier’s stock valued at $23,157,000 after buying an additional 87,197 shares during the period. 79.75% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $748.16 million, a P/E ratio of 33.55, a P/E/G ratio of 2.42 and a beta of 0.63.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Friday, October 5th. The medical instruments supplier reported $0.21 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.21. LeMaitre Vascular had a net margin of 21.09% and a return on equity of 19.49%. The firm had revenue of $24.17 million for the quarter, compared to analyst estimates of $26.06 million. Analysts forecast that LeMaitre Vascular Inc will post 1.07 earnings per share for the current year.

LeMaitre Vascular Company Profile (NASDAQ:LMAT)

LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.

See Also: Return on Equity (ROE)

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