LeMaitre Vascular (NASDAQ:LMAT) Updates FY 2024 Earnings Guidance

LeMaitre Vascular (NASDAQ:LMAT) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 1.910-1.960 for the period, compared to the consensus estimate of 1.850. The company issued revenue guidance of $219.0 million-$221.0 million, compared to the consensus revenue estimate of $218.3 million. LeMaitre Vascular also updated its FY24 guidance to $1.91 to $1.96 EPS.

LeMaitre Vascular Stock Performance

LeMaitre Vascular stock traded down $0.66 during mid-day trading on Thursday, reaching $88.39. 191,960 shares of the company were exchanged, compared to its average volume of 122,304. The firm has a market cap of $1.99 billion, a P/E ratio of 52.93, a PEG ratio of 2.29 and a beta of 0.88. The business has a fifty day moving average of $89.48 and a 200 day moving average of $82.73. LeMaitre Vascular has a 12-month low of $45.96 and a 12-month high of $93.32.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on LMAT shares. StockNews.com downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Tuesday, August 27th. Barrington Research reaffirmed an “outperform” rating and issued a $92.00 price target on shares of LeMaitre Vascular in a report on Friday, September 20th. Lake Street Capital started coverage on LeMaitre Vascular in a report on Friday, August 2nd. They set a “buy” rating and a $105.00 price objective for the company. JMP Securities raised their price target on LeMaitre Vascular from $77.00 to $100.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 20th. Finally, 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 target for the company. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, LeMaitre Vascular has a consensus rating of “Moderate Buy” and an average target price of $94.67.

Insider Transactions at LeMaitre Vascular

In related news, Director David B. Roberts sold 3,063 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 14,114 shares in the company, valued at $1,158,335.98. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.