LeMaitre Vascular (NASDAQ:LMAT) Shares Down 5.4% on Disappointing Earnings

LeMaitre Vascular, Inc. (NASDAQ:LMAT) traded down 5.4% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $83.43 and last traded at $85.33. 57,542 shares traded hands during trading, a decline of 64% from the average session volume of 161,492 shares. The stock had previously closed at $90.24.

The medical instruments supplier reported $0.48 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $59.87 million for the quarter, compared to analysts’ expectations of $57.61 million. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. LeMaitre Vascular’s revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS.

LeMaitre Vascular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a $0.20 dividend. The ex-dividend date is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.02%. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 41.24%.

Analysts Set New Price Targets

LMAT has been the topic of a number of research analyst reports. Barrington Research lowered LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Oppenheimer cut shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Wells Fargo & Company initiated coverage on shares of LeMaitre Vascular in a research report on Thursday, February 13th. They set an “equal weight” rating and a $95.00 target price for the company. Finally, Lake Street Capital increased their price target on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, LeMaitre Vascular has an average rating of “Moderate Buy” and an average price target of $98.14.

Insiders Place Their Bets

In other LeMaitre Vascular news, insider Trent G. Kamke sold 2,009 shares of LeMaitre Vascular stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $82.12, for a total transaction of $164,979.08. Following the transaction, the insider now directly owns 5,564 shares of the company’s stock, valued at approximately $456,915.68. This trade represents a 26.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 10.79% of the stock is owned by insiders.

Hedge Funds Weigh In On LeMaitre Vascular

Several institutional investors and hedge funds have recently made changes to their positions in the business. Segall Bryant & Hamill LLC lifted its stake in LeMaitre Vascular by 29.4% in the first quarter. Segall Bryant & Hamill LLC now owns 76,460 shares of the medical instruments supplier’s stock worth $6,415,000 after purchasing an additional 17,354 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of LeMaitre Vascular by 45.9% in the 1st quarter. Victory Capital Management Inc. now owns 79,871 shares of the medical instruments supplier’s stock valued at $6,701,000 after acquiring an additional 25,133 shares during the last quarter. Mutual of America Capital Management LLC boosted its holdings in LeMaitre Vascular by 6.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 35,331 shares of the medical instruments supplier’s stock valued at $2,964,000 after acquiring an additional 2,038 shares during the period. Alps Advisors Inc. bought a new position in LeMaitre Vascular during the 1st quarter worth approximately $354,000. Finally, Linden Thomas Advisory Services LLC grew its holdings in shares of LeMaitre Vascular by 3.2% in the first quarter. Linden Thomas Advisory Services LLC now owns 35,591 shares of the medical instruments supplier’s stock worth $2,986,000 after purchasing an additional 1,109 shares during the last quarter. Institutional investors own 84.64% of the company’s stock.

LeMaitre Vascular Stock Down 12.8 %

The business’s 50-day simple moving average is $85.58 and its 200-day simple moving average is $93.33. The stock has a market cap of $1.78 billion, a PE ratio of 43.01, a PEG ratio of 2.22 and a beta of 0.89.

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.