Q3 2017 Earnings Estimate for LeMaitre Vascular, Inc. Issued By First Analysis (NASDAQ:LMAT)
LeMaitre Vascular, Inc. (NASDAQ:LMAT) – Stock analysts at First Analysis lifted their Q3 2017 earnings per share (EPS) estimates for shares of LeMaitre Vascular in a research note issued on Friday. First Analysis analyst now anticipates that the medical instruments supplier will post earnings per share of $0.20 for the quarter, up from their prior forecast of $0.17. First Analysis also issued estimates for LeMaitre Vascular’s Q4 2017 earnings at $0.19 EPS, Q1 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.20 EPS and FY2018 earnings at $0.84 EPS.
LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.17 by $0.06. The company had revenue of $25.80 million during the quarter, compared to the consensus estimate of $25.42 million. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. LeMaitre Vascular’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
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Several other research firms have also recently weighed in on LMAT. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Tuesday. Benchmark Co. cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Monday, July 10th. They noted that the move was a valuation call. Stifel Nicolaus raised their price target on LeMaitre Vascular from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, April 28th. Canaccord Genuity cut LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a report on Monday, July 10th. Finally, Craig Hallum started coverage on LeMaitre Vascular in a report on Tuesday, June 6th. They set a “hold” rating and a $31.00 price target for the company. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $30.17.
Shares of LeMaitre Vascular (NASDAQ:LMAT) opened at 34.46 on Monday. The company has a 50-day moving average price of $29.79 and a 200-day moving average price of $26.87. LeMaitre Vascular has a 52-week low of $16.80 and a 52-week high of $36.09. The company has a market cap of $648.36 million, a P/E ratio of 49.23 and a beta of 0.65.
LeMaitre Vascular announced that its Board of Directors has initiated a share buyback program on Thursday, July 27th that allows the company to buyback $7.50 million in shares. This buyback authorization allows the medical instruments supplier to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Monday, August 21st. LeMaitre Vascular’s payout ratio is 31.88%.
In other news, Chairman George W. Lemaitre sold 63,622 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $30.98, for a total value of $1,971,009.56. Following the completion of the sale, the chairman now directly owns 3,450,815 shares of the company’s stock, valued at approximately $106,906,248.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David B. Roberts sold 44,340 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $31.14, for a total value of $1,380,747.60. Following the completion of the sale, the insider now directly owns 46,945 shares of the company’s stock, valued at $1,461,867.30. The disclosure for this sale can be found here. Insiders sold a total of 230,463 shares of company stock valued at $7,084,819 over the last ninety days. Corporate insiders own 23.70% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Columbia Wanger Asset Management LLC raised its stake in LeMaitre Vascular by 21.0% in the first quarter. Columbia Wanger Asset Management LLC now owns 1,093,903 shares of the medical instruments supplier’s stock valued at $26,943,000 after buying an additional 189,608 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of LeMaitre Vascular by 2.1% in the first quarter. Dimensional Fund Advisors LP now owns 927,465 shares of the medical instruments supplier’s stock worth $22,843,000 after buying an additional 19,128 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of LeMaitre Vascular by 6.5% in the first quarter. Vanguard Group Inc. now owns 660,331 shares of the medical instruments supplier’s stock worth $16,264,000 after buying an additional 40,448 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in shares of LeMaitre Vascular by 45.8% in the second quarter. Conestoga Capital Advisors LLC now owns 565,069 shares of the medical instruments supplier’s stock worth $17,641,000 after buying an additional 177,379 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. raised its stake in shares of LeMaitre Vascular by 1.8% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 365,977 shares of the medical instruments supplier’s stock worth $11,425,000 after buying an additional 6,638 shares in the last quarter. 67.21% of the stock is owned by institutional investors and hedge funds.
About LeMaitre Vascular
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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