LeMaitre Vascular (NASDAQ:LMAT) Issues 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 guidance of 1.910-1.960 for the period, compared to the consensus earnings per share 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.

Analysts Set New Price Targets

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

LeMaitre Vascular Price Performance

Shares of NASDAQ:LMAT traded down $0.66 on Thursday, hitting $88.39. 191,960 shares of the company’s stock were exchanged, compared to its average volume of 122,304. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 52.93, a price-to-earnings-growth ratio of 2.29 and a beta of 0.88. LeMaitre Vascular has a 12 month low of $45.96 and a 12 month high of $93.32. The business’s 50 day simple moving average is $89.48 and its two-hundred day simple moving average is $82.73.

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, beating analysts’ consensus estimates of $0.47 by $0.05. The company had revenue of $55.85 million during the quarter, compared to analyst estimates of $54.98 million. LeMaitre Vascular had a net margin of 18.33% and a return on equity of 12.41%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. Equities analysts forecast that LeMaitre Vascular will post 1.86 EPS for the current fiscal year.

Insider Transactions at LeMaitre Vascular

In related news, Director David B. Roberts sold 3,063 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $82.07, for a total value of $251,380.41. Following the completion of the sale, the director now owns 14,114 shares in the company, valued at approximately $1,158,335.98. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.