Martingale Asset Management L P reduced its stake in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 8.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,611 shares of the medical instruments supplier’s stock after selling 5,696 shares during the quarter. Martingale Asset Management L P owned about 0.32% of LeMaitre Vascular worth $1,862,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in LeMaitre Vascular by 11,612.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 3,716 shares during the last quarter. Royce & Associates LP bought a new position in LeMaitre Vascular during the 2nd quarter worth $156,000. Oppenheimer Asset Management Inc. grew its stake in LeMaitre Vascular by 4,751.1% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,355 shares of the medical instruments supplier’s stock worth $198,000 after buying an additional 6,224 shares during the last quarter. Arizona State Retirement System bought a new position in LeMaitre Vascular during the 2nd quarter worth $206,000. Finally, Capstone Asset Management Co. bought a new position in LeMaitre Vascular during the 2nd quarter worth $243,000. Hedge funds and other institutional investors own 66.32% of the company’s stock.
LeMaitre Vascular, Inc. (LMAT) opened at 38.02 on Thursday. The firm has a market cap of $723.22 million, a price-to-earnings ratio of 54.31 and a beta of 0.67. The firm’s 50-day moving average price is $35.58 and its 200-day moving average price is $29.96. LeMaitre Vascular, Inc. has a 12 month low of $18.55 and a 12 month high of $39.29.
LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The company had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $25.42 million. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.14 earnings per share. Equities research analysts predict that LeMaitre Vascular, Inc. will post $0.80 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd were issued a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, August 21st. LeMaitre Vascular’s payout ratio is presently 31.88%.
LeMaitre Vascular announced that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that allows the company to buyback $7.50 million in outstanding shares. This buyback authorization allows the medical instruments supplier to buy up to 1.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
In other news, Director Lawrence J. Jasinski sold 6,500 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $34.47, for a total transaction of $224,055.00. Following the sale, the director now owns 12,863 shares in the company, valued at $443,387.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman George W. Lemaitre sold 58,700 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $33.97, for a total value of $1,994,039.00. Following the sale, the chairman now owns 3,471,808 shares in the company, valued at approximately $117,937,317.76. The disclosure for this sale can be found here. Insiders have sold 373,121 shares of company stock worth $12,825,992 in the last 90 days. Company insiders own 23.70% of the company’s stock.
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A number of research analysts have issued reports on the company. 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 research report on Tuesday, August 1st. BidaskClub lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target (up previously from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Benchmark Co. lowered LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. Finally, Canaccord Genuity lowered LeMaitre Vascular from a “buy” rating to a “hold” rating and set a $28.00 price target for the company. in a research report on Monday, July 10th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $30.17.
LeMaitre Vascular Company Profile
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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