Synovus Financial Corp Invests $548,000 in LeMaitre Vascular, Inc. (NASDAQ:LMAT)

Synovus Financial Corp purchased a new stake in shares of LeMaitre Vascular, Inc. (NASDAQ:LMAT) in the fourth quarter, Holdings Channel reports. The firm purchased 5,944 shares of the medical instruments supplier’s stock, valued at approximately $548,000.

A number of other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its position in shares of LeMaitre Vascular by 48.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,321 shares of the medical instruments supplier’s stock valued at $1,227,000 after purchasing an additional 4,330 shares during the last quarter. Barclays PLC grew its position in LeMaitre Vascular by 394.5% during the third quarter. Barclays PLC now owns 36,577 shares of the medical instruments supplier’s stock valued at $3,396,000 after buying an additional 29,180 shares during the period. Compass Planning Associates Inc purchased a new stake in LeMaitre Vascular during the fourth quarter worth about $567,000. Teacher Retirement System of Texas raised its position in LeMaitre Vascular by 31.8% in the fourth quarter. Teacher Retirement System of Texas now owns 101,851 shares of the medical instruments supplier’s stock worth $9,385,000 after acquiring an additional 24,586 shares during the period. Finally, Congress Asset Management Co. raised its position in LeMaitre Vascular by 1.8% in the fourth quarter. Congress Asset Management Co. now owns 722,325 shares of the medical instruments supplier’s stock worth $66,555,000 after acquiring an additional 13,009 shares during the period. 84.64% of the stock is currently owned by institutional investors.

Insider Transactions at LeMaitre Vascular

In related news, insider Trent G. Kamke sold 2,009 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $82.12, for a total transaction of $164,979.08. Following the completion of the transaction, the insider now directly owns 5,564 shares in the company, valued at $456,915.68. The trade was a 26.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 10.79% of the company’s stock.

LeMaitre Vascular Stock Performance

Shares of LMAT opened at $86.28 on Friday. LeMaitre Vascular, Inc. has a 52-week low of $62.39 and a 52-week high of $109.58. The stock’s 50-day simple moving average is $88.07 and its 200 day simple moving average is $93.51. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 47.15, a price-to-earnings-growth ratio of 2.22 and a beta of 0.89.

LeMaitre Vascular (NASDAQ:LMAT) last released its quarterly earnings data on Thursday, February 27th. The medical instruments supplier reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. The company had revenue of $55.81 million during the quarter, compared to analyst estimates of $55.99 million. LeMaitre Vascular had a net margin of 19.40% and a return on equity of 13.15%. On average, research analysts forecast that LeMaitre Vascular, Inc. will post 1.94 earnings per share for the current fiscal year.

LeMaitre Vascular Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $0.20 per share. This is a positive change from LeMaitre Vascular’s previous quarterly dividend of $0.16. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Thursday, March 13th. LeMaitre Vascular’s payout ratio is 41.24%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LMAT. Wells Fargo & Company assumed coverage on shares of LeMaitre Vascular in a research note on Thursday, February 13th. They set an “equal weight” rating and a $95.00 price target for the company. Lake Street Capital raised their target price on LeMaitre Vascular from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Barrington Research cut LeMaitre Vascular from an “outperform” rating to a “market perform” rating in a research report on Friday, February 28th. Finally, Oppenheimer downgraded 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 given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.