LeMaitre Vascular, Inc. (NASDAQ:LMAT) Announces $0.16 Quarterly Dividend

LeMaitre Vascular, Inc. (NASDAQ:LMAT) declared a quarterly dividend on Thursday, October 24th,Zacks Dividends reports. Stockholders of record on Thursday, November 21st will be paid a dividend of 0.16 per share by the medical instruments supplier on Thursday, December 5th. This represents a $0.64 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Thursday, November 21st.

LeMaitre Vascular has increased its dividend payment by an average of 13.8% annually over the last three years and has increased its dividend every year for the last 13 years. LeMaitre Vascular has a payout ratio of 29.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect LeMaitre Vascular to earn $2.16 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 29.6%.

LeMaitre Vascular Price Performance

Shares of LMAT opened at $103.74 on Wednesday. LeMaitre Vascular has a 1-year low of $51.70 and a 1-year high of $106.49. The stock has a market cap of $2.33 billion, a PE ratio of 56.69, a price-to-earnings-growth ratio of 2.50 and a beta of 0.89. The firm has a fifty day moving average price of $92.45 and a 200 day moving average price of $86.15.

LeMaitre Vascular (NASDAQ:LMAT) last posted its earnings results on Thursday, October 31st. The medical instruments supplier reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.05. The business had revenue of $54.82 million during the quarter, compared to the consensus estimate of $53.50 million. LeMaitre Vascular had a return on equity of 13.15% and a net margin of 19.40%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 EPS. As a group, equities analysts expect that LeMaitre Vascular will post 1.94 EPS for the current fiscal year.

Insider Buying and Selling at LeMaitre Vascular

In related news, Director Bridget A. Ross sold 3,750 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $101.47, for a total value of $380,512.50. Following the sale, the director now owns 2,278 shares in the company, valued at $231,148.66. This represents a 62.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.79% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on LMAT shares. JMP Securities increased their price objective on LeMaitre Vascular from $77.00 to $100.00 and gave the company a “market outperform” rating in a report on Tuesday, August 20th. Lake Street Capital initiated coverage on shares of LeMaitre Vascular in a research note on Friday, August 2nd. They set a “buy” rating and a $105.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of LeMaitre Vascular in a research note on Tuesday, October 15th. They issued a “neutral” rating and a $96.00 price objective on the stock. Barrington Research increased their target price on shares of LeMaitre Vascular from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com upgraded LeMaitre Vascular from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.57.

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.