NasdaqGM:LMAT

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

Excellent balance sheet second-rate dividend payer.


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

Stable Share Price: LMAT is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: LMAT's weekly volatility (6%) has been stable over the past year.


Market Performance


7 Day Return

9.6%

LMAT

1.0%

US Medical Equipment

2.6%

US Market


1 Year Return

27.3%

LMAT

22.0%

US Medical Equipment

26.0%

US Market

Return vs Industry: LMAT exceeded the US Medical Equipment industry which returned 20.7% over the past year.

Return vs Market: LMAT matched the US Market which returned 23.8% over the past year.


Shareholder returns

LMATIndustryMarket
7 Day9.6%1.0%2.6%
30 Day21.9%4.1%5.1%
90 Day40.8%8.9%17.1%
1 Year28.9%27.3%23.1%22.0%28.9%26.0%
3 Year36.8%32.5%66.2%62.0%46.3%36.6%
5 Year237.5%221.0%166.0%146.3%126.9%101.6%

Long-Term 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 compared to its fair value and its price relative to the market?

50.17x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: LMAT ($45.43) is trading above our estimate of fair value ($42.11)

Significantly Below Fair Value: LMAT is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: LMAT is good value based on its PE Ratio (48.7x) compared to the US Medical Equipment industry average (55.6x).

PE vs Market: LMAT is poor value based on its PE Ratio (48.7x) compared to the US market (21.3x).


Price to Earnings Growth Ratio

PEG Ratio: LMAT is poor value based on its PEG Ratio (3.5x)


Price to Book Ratio

PB vs Industry: LMAT's PB Ratio (5.7x) is in line with the US Medical Equipment industry average.


Next Steps

Future Growth

How is LeMaitre Vascular forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

14.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LMAT's forecast earnings growth (14.1% per year) is above the savings rate (2%).

Earnings vs Market: LMAT's earnings (14.1% per year) are forecast to grow slower than the US market (21.6% per year).

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

Revenue vs Market: LMAT's revenue (9.7% per year) is forecast to grow slower than the US market (10.6% per year).

High Growth Revenue: LMAT's revenue (9.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LMAT's Return on Equity is forecast to be low in 3 years time (12.3%).


Next Steps

Past Performance

How has LeMaitre Vascular performed over the past 5 years?

16.9%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LMAT has high quality earnings.

Growing Profit Margin: LMAT's current net profit margins (15.4%) are lower than last year (16.7%).


Past Earnings Growth Analysis

Earnings Trend: LMAT's earnings have grown by 16.9% 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 (-2.7%) over the past year, making it difficult to compare to the Medical Equipment industry average (-0.3%).


Return on Equity

High ROE: LMAT's Return on Equity (11.7%) is considered low.


Next Steps

Financial Health

How is LeMaitre Vascular's financial position?


Financial Position Analysis

Short Term Liabilities: LMAT's short term assets ($102.3M) exceed its short term liabilities ($44.4M).

Long Term Liabilities: LMAT's short term assets ($102.3M) exceed its long term liabilities ($56.1M).


Debt to Equity History and Analysis

Debt Level: LMAT's debt to equity ratio (36.9%) is considered satisfactory.

Reducing Debt: Insufficient data to determine if LMAT's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: LMAT's debt is well covered by operating cash flow (44.1%).

Interest Coverage: LMAT's interest payments on its debt are well covered by EBIT (60.1x coverage).


Balance Sheet


Next Steps

Dividend

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

0.81%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: LMAT's dividend (0.84%) isn’t notable compared to the bottom 25% of dividend payers in the US market (1.38%).

High Dividend: LMAT's dividend (0.84%) is low compared to the top 25% of dividend payers in the US market (3.86%).


Stability and Growth of Payments

Stable Dividend: LMAT's dividends per share have been stable in the past 10 years.

Growing Dividend: LMAT's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (39.7%), 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

How experienced are the management team and are they aligned to shareholders interests?

14.8yrs

Average management tenure


CEO

George LeMaitre (55 yo)

28.58yrs

Tenure

US$1,397,743

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 ($USD1.40M) is below average for companies of similar size in the US market ($USD2.40M).

Compensation vs Earnings: George's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
George LeMaitre
Chairman & CEO28.58yrsUS$1.40m13.87%
$ 131.9m
David Roberts
President & Director19.67yrsUS$746.83k0.24%
$ 2.3m
Joseph Pellegrino
CFO, Treasurer4.25yrsUS$685.98k0.0031%
$ 29.4k
Trent Kamke
Senior Vice President of Operations16yrsUS$471.89k0.0026%
$ 24.5k
George LeMaitre
Founder and Chairman of Scientific Advisory Boardno dataUS$138.40kno data
Laurie Churchill
Senior VP & General Counsel7yrsno datano data
Kimberly Cieslak
Vice President of Marketing18yrsno datano data
Andrew Hodgkinson
Senior Vice President of Clinical8yrsno datano data

14.8yrs

Average Tenure

52yo

Average Age

Experienced Management: LMAT's management team is seasoned and experienced (14.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
George LeMaitre
Chairman & CEO28.58yrsUS$1.40m13.87%
$ 131.9m
David Roberts
President & Director19.67yrsUS$746.83k0.24%
$ 2.3m
Joseph Pellegrino
CFO, Treasurer4.25yrsUS$685.98k0.0031%
$ 29.4k
George LeMaitre
Founder and Chairman of Scientific Advisory Boardno dataUS$138.40kno data
Lawrence Jasinski
Independent Director18yrsUS$123.00k0.041%
$ 389.7k
Thomas Naslund
Member of Scientific Advisory Boardno datano datano data
Steven Kagan
Member of Scientific Advisory Boardno datano datano data
Herbert Dardik
Member of Scientific Advisory Boardno datano datano data
Alan Dardik
Member of Scientific Advisory Boardno datano datano data
William Jordan
Member of Scientific Advisory Boardno datano datano data
C. McBee
Member of Scientific Advisory Boardno datano datano data
John O'Connor
Independent Director12.33yrsUS$128.00k0.27%
$ 2.6m

17.0yrs

Average Tenure

59.5yo

Average Age

Experienced Board: LMAT's board of directors are seasoned and experienced ( 17 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

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


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

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$951.395m
  • Shares outstanding: 20.34m
  • 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 Analysis2021/01/25 23:34
End of Day Share Price2021/01/25 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.