As of May 6, 2023, LeMaitre Vascular (NASDAQ:LMAT) stock opened at $65.23, with a market capitalization of $1.44 billion. With its current P/E ratio of 70.14 and PEG ratio of 5.40, the medical instruments supplier’s stock has been under the watchful eyes of multiple brokerages.
According to a report by Roth Capital on March 7th, a “neutral” rating was reaffirmed for shares of LeMaitre Vascular. However, on April 9th, StockNews.com upgraded the stock from a “hold” rating to a “buy” rating while Barrington Research further upgraded it from a “market perform” rating to an “outperform” one with a price objective set at $62.00 for the company.
In other news, insider Trent G. Kamke sold over six thousand shares on March 3rd at an average price of $50.94 per share amounting to over three hundred thousand dollars in total value. As per SEC regulations, this transaction was disclosed publicly.
On Tuesday, May 2nd LeMaitre posted its quarterly earnings data revealing an EPS (earnings per share) of $0.27 for the quarter which surpassed consensus estimates by two cents demonstrating promising growth since the same quarter last year where EPS also stood at $0.27.
With all things considered and positive outlooks surrounding LMAT’s earnings report it appears that investors looking for quality medical instrument suppliers will have more confidence in their investments moving forward with LeMaitre being positioned well for continued growth both post-COVID and into tomorrow’s technological landscape as well as China’s expanding market opportunities- all forecasts suggest LMAT will only continue growing strong in years to come making now potentially an ideal time to invest in future prospects offered by this dynamic firm while valuations are still within reasonable range.
LeMaitre Vascular, Inc. Receives Optimistic Earnings Estimate Revisions and Declares Quarterly Dividend
The medical instruments supplier, LeMaitre Vascular, Inc. (NASDAQ:LMAT), has recently been the recipient of an optimistic note issued by equities researchers at KeyCorp. The note voted in favor of a revised FY2023 earnings estimate for LeMaitre Vascular, projected to increase earnings per share from $1.16 to $1.17 for the year. While this may seem like a meager amount, it’s quite significant news for the company and its investors.
Following up on the recent announcement, KeyCorp also released estimates for LeMaitre Vascular’s FY2024 earnings at an estimated EPS worth $1.41. This is welcome news after the past quarters had been somewhat lackluster for the medical instruments subsidiary.
In line with their increasing profitability, the company also declared a recent quarterly dividend with effect from Thursday, June 1st, much to the satisfaction of investors. For quarter-on-quarter performance updates: investors of record on Wednesday May 17th will be eligible for a $0.14 per share payout come June 1st. It’s worth noting that one has to purchase shares before Tuesday May 16th -the ex-dividend date- in order to receive these incentives.
The annualized dividend for LeMaitre Vascular comes out to be around $0.56 per share with a yield of about 0.86%. This type of reward provides extra incentive when holding onto stocks long-term, while simultaneously decreasing investment risk since dividends can provide an income stream even if market conditions are unfavorable or bearish.
KeyCorp analysts are likely pleased by this upturn in prospects at LeMaitre Vascular as it helps solidify their standing within other players in their industry and demonstrates improved financial performance overall; which most certainly sends positive signals to new buyers who are looking into examining their portfolio diversification options.
With these freshly updated figures from KeyCorp, it’s an encouraging sign for investors who believe in LeMaitre Vascular’s long-term growth and potential as medical instrument suppliers. It’s more than apparent that they are increasing value for all stakeholders involved.
