LeMaitre Vascular (NASDAQ:LMAT) Shares Gap Down – Should You Sell?

LeMaitre Vascular, Inc. (NASDAQ:LMAT)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $100.69, but opened at $91.12. LeMaitre Vascular shares last traded at $92.96, with a volume of 68,968 shares traded.

Analysts Set New Price Targets

LMAT has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and set a $93.00 target price (up previously from $90.00) on shares of LeMaitre Vascular in a report on Friday, November 1st. StockNews.com downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. JMP Securities raised their target price on shares of LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 20th. Cantor Fitzgerald began coverage on shares of LeMaitre Vascular in a research report on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 price target on the stock. Finally, Barrington Research increased their target price on LeMaitre Vascular from $92.00 to $93.00 and gave the company an “outperform” rating in a report on Friday, November 1st. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $94.57.

LeMaitre Vascular Stock Performance

The company’s fifty day simple moving average is $97.71 and its two-hundred day simple moving average is $89.80. The stock has a market capitalization of $2.04 billion, a P/E ratio of 49.69, a PEG ratio of 2.47 and a beta of 0.93.

LeMaitre Vascular (NASDAQ:LMAT) last issued its earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 EPS for the quarter, beating the consensus estimate of $0.44 by $0.05. The company had revenue of $54.82 million during the quarter, compared to analysts’ expectations of $53.50 million. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. On average, research analysts predict that LeMaitre Vascular, Inc. will post 1.94 earnings per share for the current fiscal year.

LeMaitre Vascular Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 5th. Investors of record on Thursday, November 21st were given a $0.16 dividend. The ex-dividend date was Thursday, November 21st. This represents a $0.64 annualized dividend and a yield of 0.70%. LeMaitre Vascular’s payout ratio is 34.97%.

Insider Activity

In other LeMaitre Vascular news, Director Bridget A. Ross sold 3,750 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $101.47, for a total transaction of $380,512.50. Following the sale, the director now owns 2,278 shares in the company, valued at $231,148.66. This trade represents a 62.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.79% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On LeMaitre Vascular

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LMAT. Conestoga Capital Advisors LLC raised its position in shares of LeMaitre Vascular by 1.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 1,978,351 shares of the medical instruments supplier’s stock worth $183,769,000 after purchasing an additional 36,850 shares during the last quarter. Copeland Capital Management LLC increased its holdings in LeMaitre Vascular by 1.0% in the 3rd quarter. Copeland Capital Management LLC now owns 1,163,392 shares of the medical instruments supplier’s stock worth $108,068,000 after acquiring an additional 11,318 shares in the last quarter. State Street Corp raised its stake in LeMaitre Vascular by 3.6% during the 3rd quarter. State Street Corp now owns 822,085 shares of the medical instruments supplier’s stock valued at $76,363,000 after purchasing an additional 28,525 shares during the period. Congress Asset Management Co. increased its holdings in LeMaitre Vascular by 2.6% in the 3rd quarter. Congress Asset Management Co. now owns 709,316 shares of the medical instruments supplier’s stock valued at $65,888,000 after acquiring an additional 18,295 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of LeMaitre Vascular by 4.5% in the third quarter. Geode Capital Management LLC now owns 542,523 shares of the medical instruments supplier’s stock worth $50,403,000 after purchasing an additional 23,443 shares during the last quarter. 84.64% of the stock is currently owned by institutional investors.

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.