LeMaitre expects no impact from warning letter, says Wells Fargo

Wells Fargo says LeMaitre (LMAT) does not anticipate a financial impact from the FDA’s warnings letter and expects to address all the violations shortly. The company believes its August 5 response addresses four of the six quality system observations in the warning letter, the analyst tells investors in a research note. Wells believes the FDA did not consider LeMaitre’s August 5 responses when issuing the warning letter. In addition, LeMaitre does not expect any impact to Artegraft sales, Wells adds. It keeps an Equal Weight rating on the shares with a $97 price target