LeMaitre Vascular (NASDAQ:LMAT) High to “Buy” Zacks Investment Research

LeMaitre Vascular (NASDAQ:LMAT – Get a Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Thursday, Zacks.com reports. The company currently has a price target of $50.00 on the medical device supplier’s inventory. Zacks Investment Research’s target price indicates a potential upside of 12.38% from the company’s current price.

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 people worldwide. LeMaitre develops, manufactures and markets vascular devices disposable and implantable to meet the needs of vascular surgeons and interventionalists.LeMaitre’s diverse product portfolio consists of twelve well-known brand name products used in arteries and veins outside of the heart and is supported by an organization growing, specialized, and highly trained vascular sales professionals. LeMaitre Vascular offers a wide range of innovative products to vascular surgeons and interventionalists to improve procedural efficiency and minimize patient recovery time.”

Several other equity research analysts also weighed in on LMAT. StockNews.com picked up coverage from LeMaitre Vascular in a Thursday, March 31 report. They issued a “hold” rating for the company. Barrington Research reduced its target price on LeMaitre Vascular from $62.00 to $54.00 in a Friday, February 25 report. Two equity research analysts gave the stock a hold rating and four gave the stock a buy rating. According to MarketBeat, the stock currently has an average buy rating and an average target price of $59.40.

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Shares of LeMaitre Vascular opened at $44.49 on Thursday. The company has a market capitalization of $976.64 million, a price/earnings ratio of 35.31, a P/E/G ratio of 3.39 and a beta of 1.32. LeMaitre Vascular has a 52-week minimum of $39.48 and a 52-week maximum of $64.50. The stock has a 50-day simple moving average of $45.64 and a 200-day simple moving average of $47.58.

LeMaitre Vascular (NASDAQ:LMAT – Get Rating) last released its results on Thursday, February 24. The medical device supplier reported earnings per share of $0.28 for the quarter, missing Thomson Reuters’ consensus estimate of $0.31 per ($0.03). LeMaitre Vascular had a return on equity of 12.42% and a net margin of 17.42%. The company posted revenue of $39.50 million in the quarter, versus analyst estimates of $39.70 million. In the same quarter last year, the company posted earnings per share of $0.34. The company’s revenue for the quarter increased by 5.2% compared to the same quarter last year. On average, equity research analysts expect LeMaitre Vascular to post EPS of 1.39 for the current year.

In other LeMaitre Vascular news, insider Trent G. Kamke sold 7,929 shares of LeMaitre Vascular in a trade that took place on Wednesday, March 2. The stock was sold at an average price of $48.22, for a total value of $382,336.38. The sale was disclosed in a filing with the SEC, which is available via this link. Insiders hold 16.50% of the shares of the company.

A number of hedge funds and other institutional investors have recently changed their LMAT holdings. BlackRock Inc. increased its position in LeMaitre Vascular by 5.9% in Q3. BlackRock Inc. now owns 3,115,834 shares of the medical device supplier worth $165,420,000 after purchasing an additional 173,671 shares during the period. Copeland Capital Management LLC increased its position in LeMaitre Vascular shares by 7.1% during the fourth quarter. Copeland Capital Management LLC now owns 1,205,199 shares of the medical device supplier valued at $60,537,000 after purchasing an additional 80,112 shares during the period. Summit Creek Advisors LLC increased its position in shares of LeMaitre Vascular by 21.0% during the fourth quarter. Summit Creek Advisors LLC now owns 361,359 shares of the medical device supplier valued at $18,151,000 after purchasing an additional 62,754 shares during the period. Renaissance Technologies LLC increased its position in shares of LeMaitre Vascular by 123.8% during the third quarter. Renaissance Technologies LLC now owns 103,500 shares of the medical device supplier worth $5,495,000 after purchasing an additional 57,261 shares during the period. Finally, ProShare Advisors LLC increased its position in shares of LeMaitre Vascular by 26.3% during the fourth quarter. ProShare Advisors LLC now owns 207,271 shares of the medical device supplier valued at $10,412,000 after purchasing an additional 43,213 shares during the period. 85.82% of the shares are currently held by institutional investors.

LeMaitre Vascular Society Profile (Get a rating)

LeMaitre Vascular, Inc designs, markets, sells, services and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. It offers an angioscope, a fiber optic catheter used to view the lumen of a blood vessel; embolectomy catheters for removing blood clots from arteries or veins; occlusion catheters that temporarily block blood flow; infusion catheters for infusing blood and other fluids into the vascular system; and thrombectomy catheters, which feature a silicone balloon to remove thrombus in the venous system.

Further reading

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