LeMaitre Vascular (NASDAQ:LMAT) Updates Q4 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.47 to $0.51 for the period, compared to the consensus estimate of $0.46. The company issued revenue guidance of $54.9 million to $56.9 million, compared to the consensus revenue estimate of $55.49 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.910-1.960 EPS.

LeMaitre Vascular Stock Up 7.3 %

NASDAQ LMAT traded up $6.49 during trading on Friday, hitting $94.88. 343,645 shares of the stock traded hands, compared to its average volume of 105,134. The company has a market capitalization of $2.13 billion, a P/E ratio of 51.85, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. LeMaitre Vascular has a 12-month low of $45.96 and a 12-month high of $101.67. The firm has a 50-day simple moving average of $89.59 and a 200-day simple moving average of $83.25.

LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The firm had revenue of $54.82 million during the quarter, compared to analyst estimates of $53.50 million. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.39%. LeMaitre Vascular’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. As a group, research analysts predict that LeMaitre Vascular will post 1.86 EPS for the current fiscal year.

LeMaitre Vascular Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Thursday, November 21st. LeMaitre Vascular’s dividend payout ratio is 34.97%.

Wall Street Analysts Forecast Growth

LMAT has been the topic of a number of recent research reports. JMP Securities upped their price objective on LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a research report on Tuesday, August 20th. Oppenheimer restated an “outperform” rating and issued a $93.00 price target (up from $90.00) on shares of LeMaitre Vascular in a research report on Friday. Barrington Research boosted their price objective on shares of LeMaitre Vascular from $92.00 to $93.00 and gave the company an “outperform” rating in a research report on Friday. StockNews.com lowered shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a report on Tuesday, August 27th. Finally, Cantor Fitzgerald assumed coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They set a “neutral” rating and a $96.00 price target on the stock. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $94.57.

Insider Buying and Selling

In other news, Director David B. Roberts sold 3,063 shares of LeMaitre Vascular stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $82.07, for a total transaction of $251,380.41. Following the completion of the sale, the director now owns 14,114 shares of the company’s stock, valued at approximately $1,158,335.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 10.79% of the stock is currently owned by insiders.

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.