LeMaitre Vascular (NASDAQ:LMAT) Updates 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. KeyCorp started coverage on shares of LeMaitre Vascular in a research report on Tuesday, February 6th. They set a sector weight rating for the company. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a hold rating to a buy rating and raised their price objective for the company from $59.00 to $75.00 in a research report on Friday, April 26th. StockNews.com lowered shares of LeMaitre Vascular from a buy rating to a hold rating in a research note on Tuesday, April 16th. Finally, Barrington Research lifted their price objective on shares of LeMaitre Vascular from $66.00 to $69.00 and gave the stock an outperform rating in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $69.33.

LeMaitre Vascular Stock Performance

Shares of LeMaitre Vascular stock traded down $0.01 on Thursday, reaching $66.77. 176,660 shares of the company’s stock were exchanged, compared to its average volume of 114,195. The company has a market capitalization of $1.50 billion, a P/E ratio of 49.28, a price-to-earnings-growth ratio of 2.79 and a beta of 0.88. LeMaitre Vascular has a 52 week low of $44.27 and a 52 week high of $74.64. The firm’s 50-day moving average is $65.56 and its two-hundred day moving average is $58.47.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Tuesday, February 27th. The medical instruments supplier reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.02. LeMaitre Vascular had a return on equity of 10.57% and a net margin of 15.56%. The company had revenue of $48.90 million for the quarter, compared to analysts’ expectations of $49.01 million. During the same period last year, the business earned $0.25 EPS. LeMaitre Vascular’s quarterly revenue was up 19.3% compared to the same quarter last year. On average, analysts expect that LeMaitre Vascular will post 1.66 EPS for the current fiscal year.

LeMaitre Vascular Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, March 13th. This is an increase from LeMaitre Vascular’s previous quarterly dividend of $0.14. LeMaitre Vascular’s dividend payout ratio (DPR) is 47.76%.

Insider Activity at LeMaitre Vascular

In other 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 transaction of $2,489,898.00. Following the transaction, the chief executive officer now directly owns 2,187,526 shares of the company’s stock, valued at $148,817,393.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the business’s stock in a transaction 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 directly owns 6,452 shares of the company’s stock, valued at approximately $450,091.52. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO George W. Lemaitre sold 36,600 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 2,187,526 shares in the company, valued at $148,817,393.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 114,036 shares of company stock valued at $7,873,749. Corporate 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.