LeMaitre Vascular (NASDAQ:LMAT) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

LeMaitre Vascular (NASDAQ:LMAT) issued its earnings results on Thursday. The medical instruments supplier reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05, Briefing.com reports. The firm had revenue of $53.48 million for the quarter, compared to analysts’ expectations of $51.50 million. LeMaitre Vascular had a net margin of 16.99% and a return on equity of 11.75%. The firm’s revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.27 earnings per share. LeMaitre Vascular updated its Q2 guidance to $0.45-0.50 EPS and its FY24 guidance to $1.73-1.84 EPS.

LeMaitre Vascular Price Performance

Shares of LMAT traded up $7.45 during mid-day trading on Friday, reaching $74.22. 329,984 shares of the company’s stock were exchanged, 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 business’s fifty day simple moving average is $65.93 and its 200-day simple moving average is $58.78. LeMaitre Vascular has a 52-week low of $44.27 and a 52-week high of $74.64.

LeMaitre Vascular Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on LMAT shares. StockNews.com raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating in a report on Friday. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and increased their price target for the company from $59.00 to $75.00 in a research note on Friday, April 26th. KeyCorp initiated coverage on shares of LeMaitre Vascular in a research note on Tuesday, February 6th. They issued a “sector weight” rating on the stock. Barrington Research increased their price target on shares of LeMaitre Vascular from $69.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday. Finally, JMP Securities increased their price target on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the company a “market outperform” rating in a research note on Friday. Two research 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, LeMaitre Vascular presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.83.

Insider Transactions at LeMaitre Vascular

In other news, Director Lawrence J. Jasinski sold 5,110 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $358,357.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Lawrence J. Jasinski sold 5,110 shares of LeMaitre Vascular 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 in the company, valued at approximately $358,357.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of LeMaitre Vascular stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $69.76, for a total transaction 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 $450,091.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 114,036 shares of company stock worth $7,873,749. Insiders own 10.79% of the company’s stock.

About LeMaitre Vascular

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.