Insider Selling: LeMaitre Vascular, Inc. (LMAT) CEO Sells $550,800.00 in Stock
LeMaitre Vascular, Inc. (NASDAQ:LMAT) CEO George W. Lemaitre sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $36.72, for a total value of $550,800.00. Following the completion of the sale, the chief executive officer now directly owns 3,325,508 shares in the company, valued at $122,112,653.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) opened at 36.60 on Friday. LeMaitre Vascular, Inc. has a 52 week low of $18.55 and a 52 week high of $36.92. The firm has a market capitalization of $696.21 million, a price-to-earnings ratio of 52.29 and a beta of 0.67. The stock’s 50 day moving average price is $32.95 and its 200-day moving average price is $28.66.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm had revenue of $25.80 million for the quarter, compared to analyst estimates of $25.42 million. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. Equities analysts predict that LeMaitre Vascular, Inc. will post $0.80 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.055 per share. The ex-dividend date is Monday, August 21st. This represents a $0.22 annualized dividend and a dividend yield of 0.60%. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 31.88%.
LeMaitre Vascular declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 27th that permits the company to buyback $7.50 million in outstanding shares. This buyback authorization permits the medical instruments supplier to repurchase up to 1.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Several analysts recently weighed in on the company. BidaskClub lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $32.00 price objective (up from $29.00) on shares of LeMaitre Vascular in a research note on Sunday, July 30th. Zacks Investment Research raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, August 1st. Benchmark Co. raised LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Finally, Craig Hallum assumed coverage on LeMaitre Vascular in a research note on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. LeMaitre Vascular currently has a consensus rating of “Hold” and an average target price of $30.17.
Several institutional investors have recently made changes to their positions in LMAT. Columbia Wanger Asset Management LLC raised its position in shares of 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 period. Dimensional Fund Advisors LP raised its position in shares of LeMaitre Vascular by 4.4% in the second quarter. Dimensional Fund Advisors LP now owns 968,232 shares of the medical instruments supplier’s stock valued at $30,228,000 after buying an additional 40,767 shares during the period. Vanguard Group Inc. raised its position in shares of LeMaitre Vascular by 23.5% in the second quarter. Vanguard Group Inc. now owns 815,580 shares of the medical instruments supplier’s stock valued at $25,462,000 after buying an additional 155,249 shares during the period. Conestoga Capital Advisors LLC raised its position 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 valued at $17,641,000 after buying an additional 177,379 shares during the period. Finally, State Street Corp raised its position in shares of LeMaitre Vascular by 25.2% in the second quarter. State Street Corp now owns 382,824 shares of the medical instruments supplier’s stock valued at $11,951,000 after buying an additional 77,009 shares during the period. Hedge funds and other institutional investors own 66.32% of the company’s stock.
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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