Bridget A. Ross, a director at LeMaitre Vascular Inc . (NASDAQ:LMAT), recently sold 3,750 shares of the company's common stock. The shares were sold on November 15 at a price of $101.47 each, totaling $380,512. Following the transaction, Ross holds 2,278 shares in the company.
The sale followed an exercise of stock options, where Ross acquired 3,750 shares at an exercise price of $30 per share, as part of a previously vested option agreement. This transaction was also reported on November 15 and is reflected in the updated shareholding.
In other recent news, LeMaitre Vascular showcased strong financial results in its Q3 earnings call, reporting a 16% increase in sales and a significant 49% rise in earnings per share. This growth was driven by a surge in grafts, patches, and carotid shunts sales. The company also saw a 24% increase in sales in the APAC region, with Thailand and Korea being significant contributors.
LeMaitre Vascular plans to expand its sales force and establish new international offices, while also actively pursuing larger acquisitions. The company has made regulatory progress, receiving 15 of 22 MDR CE marks, with the rest expected in 2025.
However, the company faces regulatory delays for allograft devices in Germany and Ireland, pushing the expected launch to 2025 or 2026. Despite this, LeMaitre Vascular remains optimistic, projecting a sales growth of 14% for Q4 2024 and an operating margin rise to 24% for the full year. These recent developments suggest a strong trajectory for the company.
InvestingPro Insights
LeMaitre Vascular Inc. (NASDAQ:LMAT) has been experiencing significant growth and investor interest, as evidenced by the recent insider transaction and the company's financial metrics. According to InvestingPro data, LMAT's stock has shown impressive performance, with a 96.22% total return over the past year and an 83.6% return year-to-date. The company's market capitalization stands at $2.33 billion, reflecting its strong position in the medical devices sector.
InvestingPro Tips highlight that LMAT has raised its dividend for 14 consecutive years, demonstrating a commitment to shareholder returns. This is particularly noteworthy given the company's robust financial health, with liquid assets exceeding short-term obligations and operations maintained with a moderate level of debt.
The company's growth trajectory is further underscored by its revenue growth of 14.81% over the last twelve months, with quarterly revenue growth of 15.63% in Q3 2024. LMAT's gross profit margin stands at an impressive 68.34%, indicating strong pricing power and operational efficiency.
However, investors should note that LMAT is trading at a high P/E ratio of 56.16, which suggests the stock may be priced at a premium relative to its earnings. This valuation metric aligns with another InvestingPro Tip indicating that the stock is trading at a high earnings multiple.
For those interested in a deeper analysis, InvestingPro offers 20 additional tips for LMAT, providing a comprehensive view of the company's financial health and market position.
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