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

LeMaitre Vascular (NASDAQ:LMAT) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.450-0.500 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

LMAT has been the topic of several recent research reports. StockNews.com upgraded shares of LeMaitre Vascular from a hold rating to a buy rating in a research report on Friday. Stifel Nicolaus upgraded shares of LeMaitre Vascular from a hold rating to a buy rating and upped their target price for the company from $59.00 to $75.00 in a research note on Friday, April 26th. JMP Securities raised their target price on LeMaitre Vascular from $72.00 to $77.00 and gave the company a market outperform rating in a research note on Friday. Barrington Research raised their target price on LeMaitre Vascular from $69.00 to $79.00 and gave the company an outperform rating in a research note on Friday. Finally, KeyCorp began coverage on LeMaitre Vascular in a research report on Tuesday, February 6th. They set a sector weight rating for the company. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $73.83.

LeMaitre Vascular Stock Up 11.2 %

LMAT stock opened at $74.22 on Monday. The business’s 50-day simple moving average is $65.93 and its 200 day simple moving average is $58.85. The company has a market cap 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 twelve month low of $44.27 and a twelve month high of $74.64.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. LeMaitre Vascular had a return on equity of 11.57% and a net margin of 16.99%. The business had revenue of $53.48 million during the quarter, compared to analysts’ expectations of $51.50 million. During the same period in the previous year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts anticipate that LeMaitre Vascular will post 1.77 EPS for the current year.

LeMaitre Vascular Announces Dividend

The firm also recently declared 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. This represents a $0.64 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Wednesday, May 15th. LeMaitre Vascular’s dividend payout ratio is 42.38%.

Insider Activity at LeMaitre Vascular

In related news, CEO George W. Lemaitre sold 36,600 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $68.03, for a total value of $2,489,898.00. Following the sale, the chief executive officer now directly owns 2,187,526 shares of the company’s stock, valued at approximately $148,817,393.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO George W. Lemaitre sold 36,600 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $68.03, for a total value of $2,489,898.00. Following the completion of the sale, the chief executive officer now directly owns 2,187,526 shares in the company, valued at approximately $148,817,393.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO George W. Lemaitre sold 27,859 shares of LeMaitre Vascular stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $69.73, for a total transaction of $1,942,608.07. Following the sale, the chief executive officer now directly owns 2,255,737 shares of the company’s stock, valued at approximately $157,292,541.01. The disclosure for this sale can be found here. Insiders have sold 114,036 shares of company stock worth $7,873,749 over the last ninety days. Company 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.