LeMaitre Vascular Inc (NASDAQ:LMAT) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totalling 1,553,300 shares, a drop of 7.4% from the June 30th total of 1,678,200 shares. Based on an average daily volume of 104,100 shares, the days-to-cover ratio is currently 14.9 days. Currently, 9.8% of the company’s shares are short sold.
Several equities analysts have weighed in on LMAT shares. ValuEngine raised LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research note on Saturday, July 27th. BidaskClub raised LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Barrington Research reaffirmed an “outperform” rating and set a $37.00 target price (up previously from $32.00) on shares of LeMaitre Vascular in a research note on Thursday, July 25th. Finally, First Analysis raised LeMaitre Vascular from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $29.00 to $37.00 in a research note on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $35.33.
NASDAQ:LMAT traded up $0.52 on Friday, hitting $31.52. 54,500 shares of the company’s stock traded hands, compared to its average volume of 126,927. The company has a market cap of $643.04 million, a PE ratio of 37.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.15. The firm has a 50-day moving average price of $30.50 and a 200-day moving average price of $28.62. LeMaitre Vascular has a 1 year low of $21.79 and a 1 year high of $38.99.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings results on Wednesday, July 24th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.02. The business had revenue of $29.48 million during the quarter, compared to analysts’ expectations of $28.90 million. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 16.72%. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. Analysts predict that LeMaitre Vascular will post 0.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Investors of record on Wednesday, August 21st will be paid a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $0.34 annualized dividend and a dividend yield of 1.08%. LeMaitre Vascular’s payout ratio is 40.48%.
In related news, Chairman George W. Lemaitre sold 66,037 shares of LeMaitre Vascular stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $34.45, for a total value of $2,274,974.65. Following the transaction, the chairman now owns 3,171,124 shares of the company’s stock, valued at approximately $109,245,221.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence J. Jasinski sold 5,000 shares of LeMaitre Vascular stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $32.00, for a total value of $160,000.00. Following the transaction, the director now directly owns 10,833 shares in the company, valued at approximately $346,656. The disclosure for this sale can be found here. Insiders sold a total of 98,037 shares of company stock worth $3,310,555 in the last three months. 19.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund grew its stake in shares of LeMaitre Vascular by 3.8% in the 1st quarter. Texas Permanent School Fund now owns 10,770 shares of the medical instruments supplier’s stock valued at $334,000 after buying an additional 390 shares in the last quarter. Summit Creek Advisors LLC grew its stake in shares of LeMaitre Vascular by 0.3% in the 2nd quarter. Summit Creek Advisors LLC now owns 230,539 shares of the medical instruments supplier’s stock valued at $6,450,000 after buying an additional 630 shares in the last quarter. Swiss National Bank grew its stake in shares of LeMaitre Vascular by 2.3% in the 2nd quarter. Swiss National Bank now owns 31,000 shares of the medical instruments supplier’s stock valued at $867,000 after buying an additional 700 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in LeMaitre Vascular by 22.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,215 shares of the medical instruments supplier’s stock worth $145,000 after purchasing an additional 951 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in LeMaitre Vascular by 0.5% in the 2nd quarter. Northern Trust Corp now owns 264,793 shares of the medical instruments supplier’s stock worth $7,408,000 after purchasing an additional 1,345 shares during the last quarter. 78.35% of the stock is owned by institutional investors and hedge funds.
About LeMaitre Vascular
LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to temporarily perfuse the blood and other fluids into the vasculature.
Recommended Story: Why are gap-down stocks important?
Receive News & Ratings for LeMaitre Vascular Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LeMaitre Vascular and related companies with MarketBeat.com's FREE daily email newsletter.