Shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) saw unusually-strong trading volume on Monday after the company announced a dividend. Approximately 167,999 shares were traded during mid-day trading, a decline of 21% from the previous session’s volume of 212,800 shares.The stock last traded at $35.27 and had previously closed at $33.94.
The newly announced dividend which will be paid on Thursday, September 7th. Stockholders of record on Wednesday, August 23rd will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.65%. LeMaitre Vascular’s dividend payout ratio is currently 31.88%.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Friday, April 28th. Stifel Nicolaus restated a “buy” rating and issued a $32.00 price target (up from $29.00) on shares of LeMaitre Vascular in a research report on Sunday, July 30th. Benchmark Co. upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. Canaccord Genuity restated a “buy” rating and issued a $28.00 price target on shares of LeMaitre Vascular in a research report on Thursday, April 27th. Finally, BidaskClub downgraded LeMaitre Vascular from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. LeMaitre Vascular presently has an average rating of “Buy” and an average price target of $30.17.
The firm has a 50 day moving average of $31.57 and a 200-day moving average of $27.77. The firm has a market capitalization of $645.99 million, a price-to-earnings ratio of 48.51 and a beta of 0.65.
LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly 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 analyst estimates of $25.42 million. During the same quarter in the prior year, the company posted $0.14 EPS. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Analysts predict that LeMaitre Vascular, Inc. will post $0.80 EPS for the current year.
LeMaitre Vascular declared that its Board of Directors has approved a stock buyback plan on Thursday, July 27th that allows the company to repurchase $7.50 million in outstanding shares. This repurchase authorization allows the medical instruments supplier to buy up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.
In other news, insider Trent G. Kamke sold 15,780 shares of the company’s 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 transaction, the insider now owns 31,341 shares of the company’s stock, valued at approximately $949,005.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Michael T. Wijas sold 2,346 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $31.42, for a total value of $73,711.32. Following the completion of the transaction, the vice president now directly owns 3,584 shares in the company, valued at approximately $112,609.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 242,534 shares of company stock worth $8,094,219. Corporate insiders own 23.70% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in LeMaitre Vascular by 11,612.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,748 shares of the medical instruments supplier’s stock valued at $117,000 after buying an additional 3,716 shares during the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in LeMaitre Vascular during the second quarter valued at about $137,000. Royce & Associates LP purchased a new position in LeMaitre Vascular during the second quarter valued at about $156,000. Royal Bank of Canada raised its position in LeMaitre Vascular by 856.5% in the second quarter. Royal Bank of Canada now owns 5,031 shares of the medical instruments supplier’s stock valued at $157,000 after buying an additional 4,505 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in LeMaitre Vascular by 4,751.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,355 shares of the medical instruments supplier’s stock valued at $198,000 after buying an additional 6,224 shares during the last quarter. 67.12% of the stock is currently owned by hedge funds and other institutional investors.
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About LeMaitre Vascular
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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