Dimensional Fund Advisors LP raised its position in LeMaitre Vascular, Inc. (NASDAQ:LMAT) by 2.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 927,465 shares of the medical instruments supplier’s stock after buying an additional 19,128 shares during the period. Dimensional Fund Advisors LP owned 4.98% of LeMaitre Vascular worth $22,843,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of LeMaitre Vascular by 52.3% in the first quarter. Ameriprise Financial Inc. now owns 201,508 shares of the medical instruments supplier’s stock worth $4,963,000 after buying an additional 69,186 shares during the period. Bank of New York Mellon Corp raised its position in shares of LeMaitre Vascular by 1.6% in the first quarter. Bank of New York Mellon Corp now owns 88,552 shares of the medical instruments supplier’s stock worth $2,181,000 after buying an additional 1,408 shares during the period. Conestoga Capital Advisors LLC bought a new position in shares of LeMaitre Vascular during the first quarter worth $9,549,000. Russell Investments Group Ltd. raised its position in shares of LeMaitre Vascular by 211.2% in the first quarter. Russell Investments Group Ltd. now owns 150,413 shares of the medical instruments supplier’s stock worth $3,705,000 after buying an additional 102,078 shares during the period. Finally, MARSHALL WACE ASIA Ltd acquired a new position in LeMaitre Vascular during the first quarter valued at $988,000. 67.12% of the stock is owned by institutional investors and hedge funds.
Shares of LeMaitre Vascular, Inc. (NASDAQ LMAT) traded down 0.44% during mid-day trading on Friday, hitting $33.96. 224,228 shares of the stock were exchanged. The firm has a market cap of $645.99 million, a price-to-earnings ratio of 48.51 and a beta of 0.65. The company’s 50-day moving average is $31.57 and its 200-day moving average is $27.77. LeMaitre Vascular, Inc. has a 1-year low of $16.80 and a 1-year high of $36.09.
LeMaitre Vascular (NASDAQ:LMAT) last announced its earnings results on Thursday, July 27th. The medical instruments supplier reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.06. LeMaitre Vascular had a return on equity of 15.02% and a net margin of 14.19%. The business had revenue of $25.80 million for the quarter, compared to analysts’ expectations of $25.42 million. During the same period in the prior year, the business posted $0.14 earnings per share. The firm’s revenue was up 15.2% on a year-over-year basis. Equities research analysts anticipate that LeMaitre Vascular, Inc. will post $0.80 earnings per share for the current fiscal year.
LeMaitre Vascular declared that its Board of Directors has approved a stock repurchase program on Thursday, July 27th that authorizes the company to repurchase $7.50 million in shares. This repurchase authorization authorizes the medical instruments supplier to buy up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 23rd will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, August 21st. LeMaitre Vascular’s payout ratio is presently 31.88%.
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Several equities analysts recently weighed in on LMAT shares. Canaccord Genuity restated a “buy” rating and set a $28.00 target price on shares of LeMaitre Vascular in a report on Thursday, April 27th. Stifel Nicolaus lifted their price target on shares of LeMaitre Vascular from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Zacks Investment Research raised shares of LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Friday, April 28th. Craig Hallum began coverage on shares of LeMaitre Vascular in a research report on Tuesday, June 6th. They issued a “hold” rating and a $31.00 target price for the company. Finally, Benchmark Co. downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. LeMaitre Vascular currently has an average rating of “Buy” and a consensus price target of $30.17.
In related news, Chairman George W. Lemaitre sold 21,300 shares of the stock in a transaction on Friday, August 11th. The stock was sold at an average price of $32.90, for a total value of $700,770.00. Following the transaction, the chairman now directly owns 3,405,508 shares in the company, valued at approximately $112,041,213.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Trent G. Kamke sold 15,780 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $30.28, for a total value of $477,818.40. Following the completion of the transaction, the insider now owns 31,341 shares in the company, valued at $949,005.48. The disclosure for this sale can be found here. Insiders have sold a total of 242,534 shares of company stock worth $8,094,219 over the last 90 days. Company insiders own 23.70% of the company’s stock.
LeMaitre Vascular Company Profile
LeMaitre Vascular, Inc is a provider of medical devices for the treatment of peripheral vascular disease. The Company develops, manufactures and markets medical devices and implants used primarily in the field of vascular surgery. It is engaged in the design, marketing, sales and technical support of medical devices and implants for the treatment of peripheral vascular disease industry segment.
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