LeMaitre Vascular (NASDAQ:LMAT) Shares Down 10.5% - What's Next?

LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) shares were down 10.5% during trading on Monday . The stock traded as low as $71.42 and last traded at $71.42. Approximately 32,215 shares were traded during trading, a decline of 79% from the average daily volume of 156,053 shares. The stock had previously closed at $79.78.

Analysts Set New Price Targets

A number of brokerages have weighed in on LMAT. StockNews.com downgraded LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Friday, December 13th. Wells Fargo & Company began coverage on LeMaitre Vascular in a research report on Thursday, February 13th. They issued an "equal weight" rating and a $95.00 target price on the stock. Oppenheimer downgraded LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a research note on Friday, February 28th. Lake Street Capital raised their price target on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Finally, Barrington Research lowered shares of LeMaitre Vascular from an "outperform" rating to a "market perform" rating in a report on Friday, February 28th. Five investment 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. Based on data from MarketBeat, LeMaitre Vascular currently has an average rating of "Moderate Buy" and an average target price of $95.25.

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LeMaitre Vascular Stock Up 1.8 %

The company has a market cap of $1.87 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 2.22 and a beta of 0.89. The firm has a 50 day moving average price of $89.17 and a two-hundred day moving average price of $93.72.

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

LeMaitre Vascular Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $0.20 per share. This is a boost from LeMaitre Vascular's previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date of this dividend was Thursday, March 13th. LeMaitre Vascular's dividend payout ratio (DPR) is currently 41.24%.

Insider Activity at LeMaitre Vascular

In other LeMaitre Vascular news, insider Trent G. Kamke sold 2,009 shares of LeMaitre Vascular stock in a transaction 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 $456,915.68. The trade was a 26.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 10.79% of the stock is owned by insiders.

Institutional Trading of LeMaitre Vascular

A number of hedge funds have recently bought and sold shares of the business. FMR LLC lifted its stake in LeMaitre Vascular by 330.6% in the third quarter. FMR LLC now owns 10,568 shares of the medical instruments supplier's stock valued at $982,000 after purchasing an additional 8,114 shares during the last quarter. Verition Fund Management LLC purchased a new stake in LeMaitre Vascular during the third quarter valued at about $415,000. Stifel Financial Corp grew its stake in LeMaitre Vascular by 10.8% in the 3rd quarter. Stifel Financial Corp now owns 72,194 shares of the medical instruments supplier's stock valued at $6,706,000 after buying an additional 7,060 shares in the last quarter. State Street Corp raised its holdings in LeMaitre Vascular by 3.6% during the 3rd quarter. State Street Corp now owns 822,085 shares of the medical instruments supplier's stock valued at $76,363,000 after acquiring an additional 28,525 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of LeMaitre Vascular in the third quarter worth $344,000. 84.64% of the stock is currently owned by institutional investors.

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.