LeMaitre Vascular (NASDAQ:LMAT) Price Target Raised to $77.00

LeMaitre Vascular (NASDAQ:LMAT) had its target price boosted by equities research analysts at JMP Securities from $72.00 to $77.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “market outperform” rating on the medical instruments supplier’s stock. JMP Securities’ price objective indicates a potential upside of 3.75% from the company’s previous close.

A number of other research firms have also recently issued reports on LMAT. Stifel Nicolaus upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and increased their target price for the stock from $59.00 to $75.00 in a report on Friday, April 26th. Barrington Research raised their price objective on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the stock an “outperform” rating in a research report on Friday. StockNews.com lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Finally, KeyCorp assumed coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They issued a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $73.83.

LeMaitre Vascular Stock Performance

NASDAQ:LMAT traded up $7.45 on Friday, hitting $74.22. 329,984 shares of the stock were exchanged, compared to its average volume of 116,703. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 55.39, a P/E/G ratio of 2.88 and a beta of 0.88. The company’s 50-day moving average price is $65.93 and its 200 day moving average price is $58.71. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. LeMaitre Vascular had a net margin of 15.56% and a return on equity of 10.57%. The company had revenue of $53.48 million during the quarter, compared to analysts’ expectations of $51.50 million. During the same quarter in the previous year, the company posted $0.27 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. As a group, equities research analysts predict that LeMaitre Vascular will post 1.66 earnings per share for the current year.

Insider Buying and Selling at LeMaitre Vascular

In other LeMaitre Vascular news, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total value of $344,925.00. Following the transaction, the director now directly owns 5,309 shares of the company’s stock, valued at $358,357.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $67.50, for a total transaction of $344,925.00. Following the transaction, the director now directly owns 5,309 shares of the company’s stock, valued at $358,357.50. The transaction 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 business’s stock in a transaction that occurred on Thursday, February 29th. The stock was 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 owns 6,452 shares in the company, valued at approximately $450,091.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 114,036 shares of company stock valued at $7,873,749. Company insiders own 10.79% of the company’s stock.

Hedge Funds Weigh In On LeMaitre Vascular

Hedge funds have recently bought and sold shares of the company. Whitegate Investment Counselors Inc. purchased a new stake in shares of LeMaitre Vascular in the first quarter worth $216,000. BNP Paribas Financial Markets grew its holdings in shares of LeMaitre Vascular by 135.6% in the first quarter. BNP Paribas Financial Markets now owns 22,917 shares of the medical instruments supplier’s stock worth $1,521,000 after purchasing an additional 13,189 shares during the last quarter. Norden Group LLC purchased a new position in shares of LeMaitre Vascular in the first quarter worth $401,000. SpiderRock Advisors LLC purchased a new stake in LeMaitre Vascular during the 1st quarter valued at $601,000. Finally, Principal Financial Group Inc. boosted its holdings in shares of LeMaitre Vascular by 1.6% during the first quarter. Principal Financial Group Inc. now owns 107,835 shares of the medical instruments supplier’s stock worth $7,156,000 after purchasing an additional 1,669 shares during the period. Hedge funds and other institutional investors own 84.64% 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.