TIAA CREF Investment Management LLC raised its stake in LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 6.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 105,157 shares of the medical instruments supplier’s stock after buying an additional 6,472 shares during the period. TIAA CREF Investment Management LLC owned about 0.56% of LeMaitre Vascular worth $2,590,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Spark Investment Management LLC acquired a new position in shares of LeMaitre Vascular during the first quarter valued at $352,000. American International Group Inc. boosted its stake in shares of LeMaitre Vascular by 7.0% in the first quarter. American International Group Inc. now owns 8,310 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 545 shares in the last quarter. Blair William & Co. IL boosted its stake in shares of LeMaitre Vascular by 6.9% in the first quarter. Blair William & Co. IL now owns 11,977 shares of the medical instruments supplier’s stock worth $295,000 after buying an additional 768 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of LeMaitre Vascular during the first quarter worth approximately $353,000. Finally, Prudential Financial Inc. boosted its stake in shares of LeMaitre Vascular by 2.1% in the first quarter. Prudential Financial Inc. now owns 97,350 shares of the medical instruments supplier’s stock worth $2,398,000 after buying an additional 2,040 shares in the last quarter. Hedge funds and other institutional investors own 67.10% of the company’s stock.
LeMaitre Vascular, Inc. (NASDAQ:LMAT) traded up 0.73% during trading on Friday, reaching $32.99. The company had a trading volume of 220,949 shares. The firm has a 50-day moving average of $31.03 and a 200-day moving average of $27.38. The stock has a market capitalization of $627.54 million, a price-to-earnings ratio of 47.13 and a beta of 0.65. LeMaitre Vascular, Inc. has a 1-year low of $16.80 and a 1-year high of $36.09.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The company had revenue of $25.80 million for the quarter, compared to analyst estimates of $25.42 million. During the same quarter in the prior year, the business posted $0.14 EPS. LeMaitre Vascular’s quarterly revenue was up 15.2% on a year-over-year basis. On average, analysts anticipate that LeMaitre Vascular, Inc. will post $0.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.22 annualized dividend and a dividend yield of 0.67%. LeMaitre Vascular’s dividend payout ratio (DPR) is 31.88%.
LeMaitre Vascular announced that its Board of Directors has initiated a share repurchase program on Thursday, July 27th that permits the company to buyback $7.50 million in shares. This buyback authorization permits the medical instruments supplier to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
A number of analysts have commented on LMAT shares. Canaccord Genuity reaffirmed a “buy” rating and set a $28.00 price target on shares of LeMaitre Vascular in a research report on Thursday, April 27th. Stifel Nicolaus boosted their price objective on LeMaitre Vascular from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, April 28th. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Friday, April 28th. Craig Hallum began coverage on LeMaitre Vascular in a report on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price objective for the company. Finally, Benchmark Co. cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Monday, July 10th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $30.17.
In other LeMaitre Vascular news, insider Trent G. Kamke sold 15,780 shares of the stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $30.28, for a total value of $477,818.40. Following the completion of the sale, the insider now directly owns 31,341 shares of the company’s stock, valued at approximately $949,005.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman George W. Lemaitre sold 21,225 shares of the stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $30.11, for a total transaction of $639,084.75. Following the completion of the sale, the chairman now directly owns 3,386,295 shares of the company’s stock, valued at $101,961,342.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 263,759 shares of company stock worth $8,733,304. 23.70% of the stock is currently owned by company insiders.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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