LeMaitre Vascular (NASDAQ:LMAT) Downgraded by Zacks Investment Research

LeMaitre Vascular (NASDAQ:LMATGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued on Tuesday, Zacks.com reports.

According to Zacks, “LeMaitre Vascular, Inc. is a provider of devices, implants and services for the treatment of peripheral vascular disease, a condition that affects the people worldwide. LeMaitre develops, manufactures, and markets disposable and implantable vascular devices to address the needs of vascular surgeons and interventionalists. LeMaitre’s diversified product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and are supported by a growing, specialized and highly trained organization of vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists for improving procedure efficacy and minimizing patient recovery time. “

Several other equities research analysts also recently weighed in on the stock. Barrington Research reduced their price target on shares of LeMaitre Vascular from $54.00 to $50.00 in a research report on Friday. StockNews.com initiated coverage on shares of LeMaitre Vascular in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $57.00.

Shares of NASDAQ LMAT opened at $43.61 on Tuesday. LeMaitre Vascular has a 52 week low of $39.48 and a 52 week high of $64.50. The business has a fifty day moving average price of $45.73. The stock has a market capitalization of $957.33 million, a P/E ratio of 34.89, a price-to-earnings-growth ratio of 3.10 and a beta of 1.32.

LeMaitre Vascular (NASDAQ:LMATGet Rating) last issued its quarterly earnings data on Thursday, April 28th. The medical instruments supplier reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.01). LeMaitre Vascular had a net margin of 17.09% and a return on equity of 11.76%. The company had revenue of $39.56 million for the quarter, compared to analysts’ expectations of $38.65 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, analysts predict that LeMaitre Vascular will post 1.2 EPS for the current fiscal year.

In other LeMaitre Vascular news, insider Trent G. Kamke sold 7,929 shares of the stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $48.22, for a total transaction of $382,336.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 12.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of LMAT. Commonwealth Equity Services LLC raised its stake in LeMaitre Vascular by 16.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,594 shares of the medical instruments supplier’s stock worth $615,000 after acquiring an additional 1,603 shares during the last quarter. Amalgamated Bank increased its stake in shares of LeMaitre Vascular by 7.5% in the 3rd quarter. Amalgamated Bank now owns 10,058 shares of the medical instruments supplier’s stock valued at $534,000 after purchasing an additional 698 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of LeMaitre Vascular by 993.2% in the 3rd quarter. SG Americas Securities LLC now owns 20,509 shares of the medical instruments supplier’s stock valued at $1,089,000 after purchasing an additional 18,633 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of LeMaitre Vascular by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 166,449 shares of the medical instruments supplier’s stock valued at $8,837,000 after purchasing an additional 1,632 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its holdings in LeMaitre Vascular by 5.3% in the 3rd quarter. New York State Common Retirement Fund now owns 38,581 shares of the medical instruments supplier’s stock worth $2,048,000 after buying an additional 1,925 shares during the last quarter. Institutional investors own 84.90% of the company’s stock.

LeMaitre Vascular Company Profile (Get Rating)

LeMaitre Vascular, Inc designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. It offers angioscope, a fiberoptic 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; perfusion catheters to perfuse the blood and other fluids into the vasculature; and thrombectomy catheters, which features a silicone balloon for removing thrombi in the venous system.

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