LeMaitre Vascular, Inc. (NASDAQ:LMAT - Get Free Report) shares hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $99.22 and last traded at $98.50, with a volume of 16733 shares changing hands. The stock had previously closed at $88.39.
The medical instruments supplier reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.05. LeMaitre Vascular had a net margin of 18.33% and a return on equity of 12.41%. The business had revenue of $54.82 million during the quarter, compared to analyst estimates of $53.50 million. During the same period in the previous year, the business earned $0.33 EPS. The company's quarterly revenue was up 15.6% compared to the same quarter last year.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the company. Cantor Fitzgerald began coverage on LeMaitre Vascular in a report on Tuesday, October 15th. They set a "neutral" rating and a $96.00 price target on the stock. Oppenheimer restated an "outperform" rating and set a $93.00 target price (up previously from $90.00) on shares of LeMaitre Vascular in a report on Friday. Lake Street Capital started coverage on shares of LeMaitre Vascular in a research report on Friday, August 2nd. They issued a "buy" rating and a $105.00 price objective on the stock. StockNews.com downgraded shares of LeMaitre Vascular from a "buy" rating to a "hold" rating in a report on Tuesday, August 27th. Finally, JMP Securities raised their target price on LeMaitre Vascular from $77.00 to $100.00 and gave the stock a "market outperform" rating in a research note on Tuesday, August 20th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $94.57.
Get Our Latest Analysis on LMAT
Insider Activity
In other LeMaitre Vascular news, Director David B. Roberts sold 3,063 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $82.07, for a total transaction of $251,380.41. Following the completion of the sale, the director now directly owns 14,114 shares of the company's stock, valued at $1,158,335.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 10.79% of the company's stock.
Institutional Investors Weigh In On LeMaitre Vascular
Large investors have recently added to or reduced their stakes in the business. NBC Securities Inc. grew its holdings in shares of LeMaitre Vascular by 73.2% during the 3rd quarter. NBC Securities Inc. now owns 433 shares of the medical instruments supplier's stock worth $40,000 after purchasing an additional 183 shares during the period. GAMMA Investing LLC grew its stake in LeMaitre Vascular by 57.0% in the second quarter. GAMMA Investing LLC now owns 548 shares of the medical instruments supplier's stock worth $45,000 after purchasing an additional 199 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of LeMaitre Vascular during the 3rd quarter valued at approximately $60,000. West Oak Capital LLC acquired a new stake in shares of LeMaitre Vascular during the second quarter worth $58,000. Finally, nVerses Capital LLC raised its stake in LeMaitre Vascular by 33.3% during the second quarter. nVerses Capital LLC now owns 800 shares of the medical instruments supplier's stock worth $66,000 after acquiring an additional 200 shares during the period. 84.64% of the stock is owned by institutional investors and hedge funds.
LeMaitre Vascular Stock Performance
The firm has a fifty day moving average of $89.53 and a 200-day moving average of $82.77. The firm has a market cap of $2.13 billion, a P/E ratio of 59.86, a P/E/G ratio of 2.33 and a beta of 0.88.
About LeMaitre Vascular
(
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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.
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