LeMaitre Vascular (NASDAQ:LMAT) Releases Q2 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.450-0.500 for the period, compared to the consensus estimate of 0.440. The company issued revenue guidance of $53.7 million-$56.1 million, compared to the consensus revenue estimate of $54.3 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.730-1.840 EPS.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LMAT shares. StockNews.com raised shares of LeMaitre Vascular from a hold rating to a buy rating in a research report on Friday. Stifel Nicolaus upgraded LeMaitre Vascular from a hold rating to a buy rating and raised their target price for the stock 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. JMP Securities boosted their price objective on LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a report on Friday. Finally, Barrington Research raised their target price on LeMaitre Vascular from $69.00 to $79.00 and gave the stock an outperform rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, LeMaitre Vascular currently has an average rating of Moderate Buy and an average price target of $73.83.

LeMaitre Vascular Price Performance

LMAT stock opened at $74.22 on Monday. The business has a 50 day simple moving average of $65.93 and a 200-day simple 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 2.99 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 posted its earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The company 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 11.57%. LeMaitre Vascular’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.27 earnings per share. On average, equities research analysts expect that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be given a $0.16 dividend. 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 payout ratio is 42.38%.

Insider Activity

In related news, Director Lawrence J. Jasinski sold 5,110 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total transaction of $344,925.00. Following the transaction, the director now owns 5,309 shares of the company’s stock, valued at approximately $358,357.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Lawrence J. Jasinski sold 5,110 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $67.50, for a total transaction of $344,925.00. Following the completion of the transaction, the director now directly owns 5,309 shares of the company’s stock, valued at approximately $358,357.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joseph P. Pellegrino, Jr. sold 36,967 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 6,452 shares of the company’s stock, valued at $450,091.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 114,036 shares of company stock valued at $7,873,749. 10.79% of the stock is currently owned by corporate 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.