Synovus Financial Corp Purchases New Stake in LeMaitre Vascular, Inc. (NASDAQ:LMAT)

Synovus Financial Corp bought a new position in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,944 shares of the medical instruments supplier's stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. acquired a new position in LeMaitre Vascular during the fourth quarter worth about $14,900,000. Rockefeller Capital Management L.P. purchased a new stake in shares of LeMaitre Vascular during the 4th quarter worth approximately $7,787,000. Segall Bryant & Hamill LLC purchased a new stake in shares of LeMaitre Vascular during the 4th quarter worth approximately $5,446,000. Invesco Ltd. grew its holdings in shares of LeMaitre Vascular by 50.5% in the 4th quarter. Invesco Ltd. now owns 174,998 shares of the medical instruments supplier's stock worth $16,124,000 after acquiring an additional 58,720 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in LeMaitre Vascular by 45.9% in the 4th quarter. JPMorgan Chase & Co. now owns 147,489 shares of the medical instruments supplier's stock valued at $13,590,000 after purchasing an additional 46,430 shares in the last quarter. Hedge funds and other institutional investors own 84.64% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barrington Research lowered LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Lake Street Capital raised their target price on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the company a "buy" rating in a report on Friday, February 28th. Oppenheimer downgraded shares of LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company assumed coverage on shares of LeMaitre Vascular in a research note on Thursday, February 13th. They set an "equal weight" rating and a $95.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, LeMaitre Vascular presently has an average rating of "Moderate Buy" and a consensus price target of $95.25.

Insider Buying and Selling at LeMaitre Vascular

In related news, insider Trent G. Kamke sold 2,009 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.12, for a total transaction of $164,979.08. Following the sale, the insider now directly owns 5,564 shares in the company, valued at approximately $456,915.68. This trade represents a 26.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.79% of the stock is currently owned by corporate insiders.

LeMaitre Vascular Price Performance

LMAT stock traded up $3.74 on Wednesday, hitting $89.89. 40,424 shares of the company were exchanged, compared to its average volume of 160,383. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 49.12, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89. The business's fifty day moving average is $87.40 and its two-hundred day moving average is $93.42. LeMaitre Vascular, Inc. has a twelve month low of $62.50 and a twelve month high of $109.58.

LeMaitre Vascular (NASDAQ:LMAT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The medical instruments supplier reported $0.49 EPS for the quarter, hitting analysts' consensus estimates of $0.49. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. The company had revenue of $55.81 million for the quarter, compared to the consensus estimate of $55.99 million. Equities research analysts expect that LeMaitre Vascular, Inc. will post 1.94 earnings per share for the current year.

LeMaitre Vascular Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a $0.20 dividend. This is an increase from LeMaitre Vascular's previous quarterly dividend of $0.16. This represents a $0.80 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, March 13th. LeMaitre Vascular's dividend payout ratio is currently 41.24%.

LeMaitre Vascular 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.