LeMaitre Vascular (NASDAQ:LMAT) Updates FY24 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $1.91 to $1.96 for the period, compared to the consensus EPS estimate of $1.85. The company issued revenue guidance of $219.0 million to $221.0 million, compared to the consensus revenue estimate of $218.32 million. LeMaitre Vascular also updated its FY 2024 guidance to 1.910-1.960 EPS.

LeMaitre Vascular Stock Up 7.3 %

Shares of LMAT traded up $6.49 during mid-day trading on Friday, hitting $94.88. 343,645 shares of the company traded hands, compared to its average volume of 105,134. The business has a 50 day moving average of $89.59 and a 200 day moving average of $83.25. The company has a market capitalization of $2.13 billion, a PE ratio of 51.85, a price-to-earnings-growth ratio of 2.32 and a beta of 0.89. LeMaitre Vascular has a 1-year low of $45.96 and a 1-year high of $101.67.

LeMaitre Vascular (NASDAQ:LMAT) last posted its quarterly earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.05. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.39%. The business had revenue of $54.82 million during the quarter, compared to analysts’ expectations of $53.50 million. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 15.6% on a year-over-year basis. As a group, research analysts expect that LeMaitre Vascular will post 1.86 EPS for the current fiscal year.

LeMaitre Vascular Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 21st will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $0.64 annualized dividend and a yield of 0.67%. LeMaitre Vascular’s dividend payout ratio (DPR) is presently 34.97%.

Analyst Ratings Changes

LMAT has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on LeMaitre Vascular in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 target price on the stock. Lake Street Capital started coverage on LeMaitre Vascular in a report on Friday, August 2nd. They issued a “buy” rating and a $105.00 price objective on the stock. JMP Securities lifted their price target on LeMaitre Vascular from $77.00 to $100.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 20th. StockNews.com downgraded LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Tuesday, August 27th. Finally, Oppenheimer reaffirmed 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. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $94.57.

Insider Activity

In other news, Director David B. Roberts sold 3,063 shares of LeMaitre Vascular stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $82.07, for a total transaction of $251,380.41. Following the sale, the director now owns 14,114 shares of the company’s stock, valued at approximately $1,158,335.98. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 10.79% of the company’s stock.

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.