LeMaitre Vascular (NASDAQ:LMAT) Updates FY 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.820-1.910 for the period, compared to the consensus estimate of 1.770. The company issued revenue guidance of $216.8 million-$220.8 million, compared to the consensus revenue estimate of $215.1 million. LeMaitre Vascular also updated its Q3 guidance to $0.42 to $0.46 EPS.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LMAT. Lake Street Capital began coverage on shares of LeMaitre Vascular in a research report on Friday. They set a buy rating and a $105.00 price objective for the company. JMP Securities upped their price objective on shares of LeMaitre Vascular from $72.00 to $77.00 and gave the stock a market outperform rating in a research report on Friday, May 3rd. Barrington Research upped their price objective on shares of LeMaitre Vascular from $79.00 to $92.00 and gave the stock an outperform rating in a research report on Friday. Roth Capital upgraded shares of LeMaitre Vascular to a strong-buy rating in a research report on Friday, May 31st. Finally, Stifel Nicolaus upgraded shares of LeMaitre Vascular from a hold rating to a buy rating and upped their price objective for the stock from $59.00 to $75.00 in a research report on Friday, April 26th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $83.71.

LeMaitre Vascular Trading Down 1.4 %

NASDAQ LMAT traded down $1.24 on Friday, hitting $85.01. 348,354 shares of the company were exchanged, compared to its average volume of 157,693. The company has a market cap of $1.91 billion, a PE ratio of 56.30, a PEG ratio of 2.63 and a beta of 0.89. LeMaitre Vascular has a 12 month low of $44.27 and a 12 month high of $91.76. The stock has a fifty day moving average of $82.69 and a 200-day moving average of $71.68.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.05. The business had revenue of $55.85 million for the quarter, compared to analyst estimates of $54.98 million. LeMaitre Vascular had a net margin of 18.33% and a return on equity of 12.63%. LeMaitre Vascular’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 earnings per share. On average, analysts expect that LeMaitre Vascular will post 1.77 earnings per share for the current year.

LeMaitre Vascular Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.64 annualized dividend and a yield of 0.75%. LeMaitre Vascular’s payout ratio is 42.38%.

Insiders Place Their Bets

In other news, Director David B. Roberts sold 5,025 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.62, for a total value of $379,990.50. Following the completion of the sale, the director now owns 14,114 shares in the company, valued at $1,067,300.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director David B. Roberts sold 5,025 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $75.62, for a total value of $379,990.50. Following the completion of the sale, the director now owns 14,114 shares in the company, valued at $1,067,300.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO George W. Lemaitre sold 8,000 shares of the stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $75.30, for a total transaction of $602,400.00. Following the completion of the sale, the chief executive officer now owns 2,079,128 shares of the company’s stock, valued at approximately $156,558,338.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 127,437 shares of company stock worth $10,076,242. Insiders own 10.79% of the company’s stock.

About LeMaitre Vascular

LeMaitre Vascular, Inc develops, manufactures, and markets medical devices and implants used in the field of vascular surgery worldwide. It offers human cadaver tissue cryopreservation services; angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude the blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature.