LeMaitre Vascular, Inc. (NASDAQ:LMAT) shares dropped 17.1% during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $29.25 and last traded at $32.35. Approximately 1,430,311 shares traded hands during trading, an increase of 864% from the average daily volume of 148,448 shares. The stock had previously closed at $39.01.

The medical instruments supplier reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.02). LeMaitre Vascular had a return on equity of 17.01% and a net margin of 17.34%. The firm had revenue of $25.99 million during the quarter, compared to the consensus estimate of $26.42 million. During the same period last year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 7th. Investors of record on Tuesday, May 22nd will be paid a $0.07 dividend. The ex-dividend date is Monday, May 21st. This represents a $0.28 annualized dividend and a yield of 0.89%. LeMaitre Vascular’s dividend payout ratio (DPR) is currently 32.56%.

LMAT has been the topic of several research analyst reports. BidaskClub raised LeMaitre Vascular from a “strong sell” rating to a “sell” rating in a research note on Tuesday, January 16th. Benchmark raised LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Thursday. Canaccord Genuity reissued a “hold” rating and issued a $33.00 price objective on shares of LeMaitre Vascular in a research note on Friday, February 23rd. Zacks Investment Research cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Finally, ValuEngine raised LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Wednesday, April 4th. Five research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. LeMaitre Vascular presently has a consensus rating of “Buy” and an average target price of $35.33.

In other LeMaitre Vascular news, CEO George W. Lemaitre sold 42,036 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $35.68, for a total transaction of $1,499,844.48. Following the completion of the sale, the chief executive officer now owns 3,259,263 shares in the company, valued at $116,290,503.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO George W. Lemaitre sold 5,700 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $35.56, for a total value of $202,692.00. Following the sale, the chief executive officer now owns 3,259,263 shares of the company’s stock, valued at approximately $115,899,392.28. The disclosure for this sale can be found here. In the last three months, insiders sold 137,736 shares of company stock worth $4,866,186. 23.70% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of LMAT. BB&T Corp purchased a new stake in LeMaitre Vascular during the fourth quarter worth $202,000. Advisor Group Inc. lifted its holdings in LeMaitre Vascular by 28.3% during the fourth quarter. Advisor Group Inc. now owns 7,033 shares of the medical instruments supplier’s stock worth $223,000 after buying an additional 1,550 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in LeMaitre Vascular during the third quarter worth $235,000. MetLife Investment Advisors LLC purchased a new stake in LeMaitre Vascular during the fourth quarter worth $244,000. Finally, First Mercantile Trust Co. lifted its holdings in LeMaitre Vascular by 74.0% during the fourth quarter. First Mercantile Trust Co. now owns 8,436 shares of the medical instruments supplier’s stock worth $269,000 after buying an additional 3,587 shares during the period. Institutional investors own 72.78% of the company’s stock.

The firm has a market capitalization of $752.88, a price-to-earnings ratio of 36.62, a price-to-earnings-growth ratio of 2.66 and a beta of 0.54.

LeMaitre Vascular Company Profile

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.

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