NasdaqGM:LMAT

Stock Analysis Report

Executive Summary

LeMaitre Vascular, Inc. designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide.

Snowflake

Fundamentals

Flawless balance sheet and slightly overvalued.


Similar Companies

Share Price & News

How has LeMaitre Vascular's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-2.4%

LMAT

-0.4%

US Medical Equipment

1.0%

US Market


1 Year Return

11.0%

LMAT

12.8%

US Medical Equipment

6.7%

US Market

Return vs Industry: LMAT matched the US Medical Equipment industry which returned 12.8% over the past year.

Return vs Market: LMAT exceeded the US Market which returned 6.7% over the past year.


Share holder returns

LMATIndustryMarket
7 Day-2.4%-0.4%1.0%
30 Day-11.8%-2.7%-1.8%
90 Day7.7%-0.3%-1.8%
1 Year12.3%11.0%13.7%12.8%9.1%6.7%
3 Year65.9%61.6%70.0%64.8%46.1%36.6%
5 Year381.6%356.0%130.9%105.1%66.9%48.6%

Price Volatility Vs. Market

How volatile is LeMaitre Vascular's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is LeMaitre Vascular undervalued based on future cash flows and its price relative to the stock market?

6%

Discount to future cash flow value


Intrinsic Value Based on Future Cash Flows

Undervalued: LMAT ($31.33) is trading below our estimate of fair value ($33.21)

Significantly Undervalued: LMAT is trading below fair value, but not by a significant amount.


Price Based on Earnings

PE vs Industry: LMAT is good value based on its PE Ratio (33.2x) compared to the Medical Equipment industry average (40.1x).

PE vs Market: LMAT is poor value based on its PE Ratio (33.2x) compared to the US market (17.5x).


Price Based on Expected Growth

Low PEG Ratio: LMAT is poor value based on its PEG Ratio (2.4x)


Price Based on Value of Assets

PB vs Industry: LMAT is overvalued based on its PB Ratio (4.5x) compared to the US Medical Equipment industry average (3.7x).


Next Steps

Future Growth

How is LeMaitre Vascular expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

13.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Earnings vs Savings Rate: LMAT's forecast earnings growth (13.6% per year) is above the savings rate (2.7%).

Earnings vs Market: LMAT's earnings (13.6% per year) are forecast to grow slower than the US market (14.5% per year).

High Growth Earnings: LMAT's earnings are forecast to grow, but not significantly.

Revenue vs Market: LMAT's revenue (6.8% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: LMAT's revenue (6.8% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Estimates


Future Return on Equity

High Future ROE: LMAT's Return on Equity is forecast to be low in 3 years time (12.9%).


Next Steps

Past Performance

How has LeMaitre Vascular performed over the past 5 years?

34.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: LMAT's earnings have grown significantly by 34.6% per year over the past 5 years.

Accelerating Growth: LMAT's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: LMAT had negative earnings growth (-15.8%) over the past year, making it difficult to compare to the Medical Equipment industry average (28.2%).


Return on Equity

High ROE: LMAT's Return on Equity (13.4%) is considered low.


Return on Assets

ROA vs Industry: LMAT has a higher Return on Assets than the Medical Equipment industry average last year.


Return on Capital Employed

ROCE Improving: LMAT's Return on Capital Employed has declined over the past 3 years.


Next Steps

Financial Health

How is LeMaitre Vascular's financial position?


Financial Position Analysis

Short Term Liabilities: LMAT's short term assets ($98.2M) exceeds its short term liabilities ($17.4M)

Long Term Liabilities: LMAT's short term assets (98.2M) exceeds its long term liabilities (7.7M)


Debt to Equity History and Analysis

Debt Level: LMAT is debt free.

Reducing Debt: LMAT has not had any debt for past 5 years.

Debt Coverage: LMAT has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: LMAT has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: LMAT has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if LMAT's debt is covered by short term assets.


Next Steps

Dividend

What is LeMaitre Vascular's current dividend yield, its reliability and sustainability?

1.09%

Current Dividend Yield


Dividend Yield vs Market

company1.1%marketbottom25%1.5%markettop25%3.8%industryaverage0.8%forecastin3Yearsn/a

Current dividend yield vs market & industry


Dividend Yield and Payments Analysis

Notable Dividend: LMAT's dividend (1.09%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.46%).

High Dividend: LMAT's dividend (1.09%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: Whilst dividend payments have been stable, LMAT has been paying a dividend for less than 10 years.

Growing Dividend: LMAT's dividend payments have increased, but the company has only paid a dividend for 9 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (32.9%), LMAT's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of LeMaitre Vascular's salary, the management and board of directors tenure and is there insider trading?

13.5yrs

Average management tenure


CEO

George LeMaitre (54yo)

27.3yrs

Tenure

US$1,404,206

Compensation

Mr. George W. LeMaitre has been Chief Executive Officer of Lemaitre Vascular, Inc. since June 1992 and has been its Chairman since 2004. Mr. LeMaitre served as the President of Lemaitre Vascular from June  ...


CEO Compensation Analysis

Compensation vs. Market: George's total compensation ($USD1.40M) is below average for companies of similar size in the US market ($USD2.71M).

Compensation vs Earnings: George's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Management Age and Tenure

13.5yrs

Average Tenure

51yo

Average Age

Experienced Management: LMAT's management team is seasoned and experienced (13.5 years average tenure).


Board Age and Tenure

15.8yrs

Average Tenure

58.5yo

Average Age

Experienced Board: LMAT's board of directors are seasoned and experienced ( 15.8 years average tenure).


Insider Trading

Insider Buying: LMAT insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$240,40313 Aug 19
Michael Thomas
EntityIndividual
Shares7,500
Max PriceUS$32.05
SellUS$328,96201 Aug 19
George LeMaitre
EntityIndividual
Role
Chief Executive Officer
Chairman & CEO
Shares10,000
Max PriceUS$33.07
SellUS$492,01126 Feb 19
Trent Kamke
EntityIndividual
Role
Chief Operating Officer
Senior Vice President of Operations
Shares16,604
Max PriceUS$29.63

Ownership Breakdown


Management Team

  • George LeMaitre (85yo)

    Founder and Chairman of Scientific Advisory Board

    • Tenure: 0yrs
    • Compensation: US$138.40k
  • George LeMaitre (54yo)

    Chairman & CEO

    • Tenure: 27.3yrs
    • Compensation: US$1.40m
  • Dave Roberts (55yo)

    President & Director

    • Tenure: 18.4yrs
    • Compensation: US$703.56k
  • Trent Kamke (48yo)

    Senior Vice President of Operations

    • Tenure: 14.8yrs
    • Compensation: US$454.47k
  • Kimberly Cieslak (46yo)

    Vice President of Marketing

    • Tenure: 16.8yrs
  • Joseph Pellegrino (54yo)

    CFO, Treasurer

    • Tenure: 3yrs
    • Compensation: US$671.02k
  • Andrew Hodgkinson (43yo)

    Senior Vice President of Clinical

    • Tenure: 6.8yrs
  • Laurie Churchill (48yo)

    Senior VP & General Counsel

    • Tenure: 5.8yrs

Board Members

  • George LeMaitre (85yo)

    Founder and Chairman of Scientific Advisory Board

    • Tenure: 0yrs
    • Compensation: US$138.40k
  • George LeMaitre (54yo)

    Chairman & CEO

    • Tenure: 27.3yrs
    • Compensation: US$1.40m
  • Dave Roberts (55yo)

    President & Director

    • Tenure: 18.4yrs
    • Compensation: US$703.56k
  • Larry Jasinski (62yo)

    Director

    • Tenure: 16.8yrs
    • Compensation: US$96.96k
  • Thomas Naslund

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Steven Kagan

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Herbert Dardik

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • Alan Dardik

    Member of Scientific Advisory Board

    • Tenure: 0yrs
  • John O'Connor (71yo)

    Director

    • Tenure: 11.1yrs
    • Compensation: US$102.46k
  • Joseph Pellegrino (54yo)

    CFO, Treasurer

    • Tenure: 3yrs
    • Compensation: US$671.02k

Company Information

LeMaitre Vascular, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: LeMaitre Vascular, Inc.
  • Ticker: LMAT
  • Exchange: NasdaqGM
  • Founded: 1983
  • Industry: Health Care Equipment
  • Sector: Healthcare
  • Market Cap: US$621.805m
  • Shares outstanding: 19.85m
  • Website: https://www.lemaitre.com

Number of Employees


Location

  • LeMaitre Vascular, Inc.
  • 63 Second Avenue
  • Burlington
  • Massachusetts
  • 1803
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LMATNasdaqGM (Nasdaq Global Market)YesCommon StockUSUSDOct 2006
LHUDB (Deutsche Boerse AG)YesCommon StockDEEUROct 2006

Biography

LeMaitre Vascular, Inc. designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. The company offers angioscope, a fiber optic ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/13 00:39
End of Day Share Price2019/10/11 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

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