LeMaitre Vascular (NASDAQ:LMAT) Updates Q4 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.47 to $0.51 for the period, compared to the consensus estimate of $0.46. The company issued revenue guidance of $54.9 million to $56.9 million, compared to the consensus revenue estimate of $55.49 million. LeMaitre Vascular also updated its FY24 guidance to $1.91 to $1.96 EPS.

LeMaitre Vascular Trading Down 0.7 %

Shares of LMAT traded down $0.66 during trading hours on Thursday, hitting $88.39. 191,686 shares of the stock traded hands, compared to its average volume of 122,303. The business has a fifty day moving average of $89.48 and a 200-day moving average of $82.73. The firm has a market capitalization of $1.99 billion, a PE ratio of 52.93, a price-to-earnings-growth ratio of 2.29 and a beta of 0.88. LeMaitre Vascular has a 1-year low of $45.96 and a 1-year high of $93.32.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data on Thursday, August 1st. The medical instruments supplier reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. The firm had revenue of $55.85 million during the quarter, compared to analysts’ expectations of $54.98 million. LeMaitre Vascular had a return on equity of 12.41% and a net margin of 18.33%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. As a group, equities research analysts expect that LeMaitre Vascular will post 1.86 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on LMAT shares. Cantor Fitzgerald initiated coverage on shares of LeMaitre Vascular in a report on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 price objective on the stock. Lake Street Capital started coverage on LeMaitre Vascular in a research note on Friday, August 2nd. They issued a “buy” rating and a $105.00 price target on the stock. Barrington Research reaffirmed an “outperform” rating and set a $92.00 price objective on shares of LeMaitre Vascular in a research note on Friday, September 20th. JMP Securities increased their target price on LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a research note on Tuesday, August 20th. Finally, StockNews.com cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $94.67.

Insiders Place Their Bets

In other news, Director David B. Roberts sold 3,063 shares of LeMaitre Vascular stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $82.07, for a total transaction of $251,380.41. Following the transaction, the director now owns 14,114 shares in the company, valued at $1,158,335.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 10.79% of the company’s stock.

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.