LeMaitre Vascular (NASDAQ:LMAT) Sees Large Volume Increase – Time to Buy?

LeMaitre Vascular, Inc. (NASDAQ:LMAT) saw strong trading volume on Tuesday . 253,150 shares were traded during mid-day trading, an increase of 99% from the previous session’s volume of 127,513 shares.The stock last traded at $90.91 and had previously closed at $92.10.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LMAT shares. StockNews.com cut shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Friday. Barrington Research lifted their price target on shares of LeMaitre Vascular from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Cantor Fitzgerald assumed coverage on shares of LeMaitre Vascular in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 price objective for the company. Oppenheimer reaffirmed an “outperform” rating and set a $93.00 price objective (up previously from $90.00) on shares of LeMaitre Vascular in a report on Friday, November 1st. Finally, JMP Securities boosted their target price on LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a report on Tuesday, August 20th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $94.57.

LeMaitre Vascular Stock Down 1.3 %

The company has a fifty day moving average of $97.70 and a two-hundred day moving average of $89.71. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 49.86, a P/E/G ratio of 2.47 and a beta of 0.93.

LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 EPS for the quarter, topping the consensus estimate of $0.44 by $0.05. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. The company had revenue of $54.82 million during the quarter, compared to analysts’ expectations of $53.50 million. During the same quarter last year, the business earned $0.33 EPS. The business’s revenue was up 15.6% on a year-over-year basis. Equities analysts anticipate that LeMaitre Vascular, Inc. will post 1.94 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 5th. Shareholders of record on Thursday, November 21st were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 0.70%. The ex-dividend date was Thursday, November 21st. LeMaitre Vascular’s payout ratio is 34.97%.

Insider Activity

In related news, Director Bridget A. Ross sold 3,750 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $101.47, for a total transaction of $380,512.50. Following the sale, the director now owns 2,278 shares of the company’s stock, valued at approximately $231,148.66. The trade was a 62.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.79% of the company’s stock.

Institutional Investors Weigh In On LeMaitre Vascular

Several institutional investors and hedge funds have recently made changes to their positions in LMAT. Glenmede Trust Co. NA lifted its holdings in shares of LeMaitre Vascular by 1.3% in the third quarter. Glenmede Trust Co. NA now owns 10,512 shares of the medical instruments supplier’s stock valued at $976,000 after purchasing an additional 136 shares in the last quarter. Summit Global Investments lifted its stake in LeMaitre Vascular by 2.4% in the 3rd quarter. Summit Global Investments now owns 6,192 shares of the medical instruments supplier’s stock valued at $575,000 after buying an additional 146 shares in the last quarter. Shaker Investments LLC OH grew its holdings in LeMaitre Vascular by 1.3% during the 2nd quarter. Shaker Investments LLC OH now owns 13,833 shares of the medical instruments supplier’s stock valued at $1,138,000 after buying an additional 175 shares during the last quarter. NBC Securities Inc. increased its position in LeMaitre Vascular by 73.2% during the third quarter. NBC Securities Inc. now owns 433 shares of the medical instruments supplier’s stock worth $40,000 after buying an additional 183 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in LeMaitre Vascular by 34.3% during the third quarter. GAMMA Investing LLC now owns 736 shares of the medical instruments supplier’s stock worth $68,000 after buying an additional 188 shares in the last quarter. 84.64% of the stock is currently owned by hedge funds and other institutional investors.

LeMaitre Vascular Company 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.