PNC Financial Services Group Inc. Has $509,000 Stake in LeMaitre Vascular, Inc. (NASDAQ:LMAT)

PNC Financial Services Group Inc. reduced its holdings in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,069 shares of the medical instruments supplier’s stock after selling 340 shares during the period. PNC Financial Services Group Inc.’s holdings in LeMaitre Vascular were worth $509,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Opal Wealth Advisors LLC acquired a new position in shares of LeMaitre Vascular during the first quarter valued at about $26,000. NBC Securities Inc. bought a new stake in LeMaitre Vascular in the 1st quarter valued at about $36,000. US Bancorp DE raised its stake in LeMaitre Vascular by 36.0% during the 1st quarter. US Bancorp DE now owns 1,390 shares of the medical instruments supplier’s stock worth $117,000 after buying an additional 368 shares during the period. Canada Pension Plan Investment Board boosted its holdings in LeMaitre Vascular by 112.5% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,700 shares of the medical instruments supplier’s stock worth $157,000 after acquiring an additional 900 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in LeMaitre Vascular by 8.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,122 shares of the medical instruments supplier’s stock worth $196,000 after acquiring an additional 160 shares in the last quarter. 84.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LMAT shares. Barrington Research upgraded LeMaitre Vascular from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a report on Wednesday, August 6th. Cantor Fitzgerald boosted their price target on shares of LeMaitre Vascular from $92.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, August 6th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $98.00.

LeMaitre Vascular Stock Performance

Shares of LMAT opened at $95.15 on Thursday. The firm has a market capitalization of $2.15 billion, a P/E ratio of 46.19, a P/E/G ratio of 2.43 and a beta of 0.79. LeMaitre Vascular, Inc. has a 52 week low of $71.42 and a 52 week high of $109.58. The stock has a 50 day moving average price of $84.08 and a two-hundred day moving average price of $86.58. The company has a debt-to-equity ratio of 0.46, a quick ratio of 11.74 and a current ratio of 13.96.

LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Tuesday, August 5th. The medical instruments supplier reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The company had revenue of $63.15 million for the quarter, compared to analysts’ expectations of $62.48 million. LeMaitre Vascular had a return on equity of 13.67% and a net margin of 20.08%. LeMaitre Vascular’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.52 earnings per share. Equities analysts forecast that LeMaitre Vascular, Inc. will post 1.94 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 21st will be issued a dividend of $0.20 per share. The ex-dividend date is Thursday, August 21st. This represents a $0.80 annualized dividend and a yield of 0.8%. LeMaitre Vascular’s payout ratio is 38.83%.

Insider Activity

In other LeMaitre Vascular news, CEO George W. Lemaitre sold 100,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $93.51, for a total value of $9,351,000.00. Following the completion of the sale, the chief executive officer owned 1,727,003 shares in the company, valued at approximately $161,492,050.53. This trade represents a 5.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John A. Roush sold 6,561 shares of LeMaitre Vascular stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $92.55, for a total transaction of $607,220.55. Following the transaction, the director directly owned 2,916 shares in the company, valued at approximately $269,875.80. This represents a 69.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 220,815 shares of company stock valued at $19,837,063 in the last three months. 9.50% of the stock is owned by company insiders.

LeMaitre Vascular Company Profile

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.