LeMaitre Vascular, Inc. (NASDAQ:LMAT) Plans Dividend Increase – $0.20 Per Share

LeMaitre Vascular, Inc. (NASDAQ:LMAT) announced a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Thursday, March 13th will be paid a dividend of 0.20 per share by the medical instruments supplier on Thursday, March 27th. This represents a $0.80 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, March 13th. This is a 25.0% increase from LeMaitre Vascular’s previous quarterly dividend of $0.16.

LeMaitre Vascular has increased its dividend payment by an average of 13.3% annually over the last three years and has increased its dividend annually for the last 14 consecutive years. LeMaitre Vascular has a payout ratio of 32.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect LeMaitre Vascular to earn $2.17 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 36.9%.

LeMaitre Vascular Price Performance

Shares of LeMaitre Vascular stock opened at $81.88 on Tuesday. LeMaitre Vascular has a 1-year low of $62.39 and a 1-year high of $109.58. The company’s fifty day simple moving average is $96.07 and its 200-day simple moving average is $94.92. The stock has a market capitalization of $1.85 billion, a PE ratio of 44.74, a P/E/G ratio of 2.22 and a beta of 0.89.

LeMaitre Vascular (NASDAQ:LMAT) last released its earnings results on Thursday, February 27th. The medical instruments supplier reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The company had revenue of $55.81 million for the quarter, compared to the consensus estimate of $55.99 million. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. As a group, research analysts anticipate that LeMaitre Vascular will post 1.94 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LMAT shares. Oppenheimer lowered shares of LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Lake Street Capital increased their price objective on shares of LeMaitre Vascular from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. StockNews.com downgraded shares of LeMaitre Vascular from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Wells Fargo & Company assumed coverage on shares of LeMaitre Vascular in a report on Thursday, February 13th. They issued an “equal weight” rating and a $95.00 target price for the company. Finally, Barrington Research lowered LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research note on Friday, February 28th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.25.

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.