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

LeMaitre Vascular, Inc. (NASDAQ:LMAT) declared a quarterly dividend on Tuesday, February 18th, Wall Street Journal reports. Shareholders of record on Thursday, March 13th will be given 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 of this dividend 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 raised 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. 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

NASDAQ:LMAT opened at $81.88 on Tuesday. The business has a 50 day moving average of $96.07 and a 200 day moving average of $94.92. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 44.74, a PEG ratio of 2.22 and a beta of 0.89. LeMaitre Vascular has a 1-year low of $62.39 and a 1-year high of $109.58.

LeMaitre Vascular (NASDAQ:LMAT) last announced its quarterly earnings data 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 firm had revenue of $55.81 million during 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, sell-side analysts anticipate that LeMaitre Vascular will post 1.94 EPS for the current year.

Wall Street Analyst Weigh In

LMAT has been the subject of a number of recent analyst reports. Barrington Research cut LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. StockNews.com cut LeMaitre Vascular from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. Wells Fargo & Company assumed coverage on LeMaitre Vascular in a research report on Thursday, February 13th. They set an “equal weight” rating and a $95.00 target price on the stock. Oppenheimer lowered LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a report on Friday, February 28th. Finally, Lake Street Capital increased their price objective on LeMaitre Vascular from $105.00 to $110.00 and gave the company a “buy” rating in a report 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.