Vanguard Group Inc. boosted its stake in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 6.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 660,331 shares of the medical instruments supplier’s stock after buying an additional 40,448 shares during the period. Vanguard Group Inc. owned approximately 3.54% of LeMaitre Vascular worth $16,264,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Menta Capital LLC raised its stake in LeMaitre Vascular by 75.9% in the first quarter. Menta Capital LLC now owns 46,886 shares of the medical instruments supplier’s stock valued at $1,155,000 after buying an additional 20,231 shares during the period. Marshall Wace North America L.P. bought a new stake in LeMaitre Vascular during the first quarter valued at approximately $988,000. MARSHALL WACE ASIA Ltd bought a new stake in LeMaitre Vascular during the first quarter valued at approximately $988,000. 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 period. Finally, Formula Growth Ltd. bought a new stake in LeMaitre Vascular during the first quarter valued at approximately $1,429,000. 67.12% of the stock is currently owned by hedge funds and other institutional investors.
LeMaitre Vascular, Inc. (NASDAQ LMAT) traded down 0.41% during midday trading on Friday, hitting $34.07. The stock had a trading volume of 174,565 shares. LeMaitre Vascular, Inc. has a 52-week low of $17.50 and a 52-week high of $36.09. The firm has a 50-day moving average of $31.97 and a 200 day moving average of $28.18. The firm has a market capitalization of $648.08 million, a P/E ratio of 48.67 and a beta of 0.65.
LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a net margin of 14.19% and a return on equity of 15.02%. The company had revenue of $25.80 million during the quarter, compared to analysts’ expectations of $25.42 million. During the same quarter last year, the business earned $0.14 EPS. The business’s revenue was up 15.2% on a year-over-year basis. On average, equities analysts forecast that LeMaitre Vascular, Inc. will post $0.80 EPS for the current year.
LeMaitre Vascular announced that its Board of Directors has approved a stock buyback plan on Thursday, July 27th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the medical instruments supplier to reacquire up to 1.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced 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 0.65%. The ex-dividend date is Monday, August 21st. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 31.88%.
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Several research firms have recently commented on LMAT. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Friday, April 28th. Stifel Nicolaus restated 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. Benchmark Co. upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. BidaskClub lowered LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, Craig Hallum began coverage on LeMaitre Vascular in a research note on Tuesday, June 6th. They issued a “hold” rating and a $31.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $30.17.
In related news, CEO George W. Lemaitre sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 24th. The shares were sold at an average price of $33.97, for a total value of $509,550.00. Following the completion of the sale, the chief executive officer now owns 3,390,508 shares in the company, valued at $115,175,556.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael T. Wijas sold 2,346 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $31.42, for a total transaction of $73,711.32. Following the completion of the sale, the vice president now owns 3,584 shares of the company’s stock, valued at approximately $112,609.28. The disclosure for this sale can be found here. Insiders sold a total of 288,784 shares of company stock valued at $9,720,587 in the last 90 days. Company insiders own 23.70% 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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