Lemaitre Vascular (LMAT) AI Stock Analysis

• Market Cap: $2.21B
• Dividend Yield: 0.78%
• Average Volume (3M): 188.52K
• Price to Earnings (P/E): 47.3
• Beta (1Y): 0.80
• Revenue Growth: 14.11%
• EPS Growth: 23.98%
• Country: US
• Employees: 651
• Sector: Healthcare
• Sector Strength: 53
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.60
• Shares Outstanding: 22,637,522
• 10 Day Avg. Volume: 185,548
• 30 Day Avg. Volume: 188,517
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 0.80
• Enterprise Value/Revenue: 7.53
• Enterprise Value/Gross Profit: 10.90
• Enterprise Value/Ebitda: 24.44
• 1Y Price Target: $103.00
• Price Target Upside: 5.65% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 76 Outperform
• Price Target: $105.00 ▲(7.70% Upside)

Lemaitre Vascular's strong financial performance and positive earnings call are the most significant factors driving the stock's score. The company's robust growth and profitability metrics, along with a positive outlook, are key strengths. However, the high valuation and overbought technical indicators present potential risks.

Positive Factors

Financial Performance

LeMaitre Vascular reported strong Q2 results with a 15% organic revenue growth and a 25% operating margin.

Global Demand

LeMaitre's international revenue exceeded expectations, showcasing robust global demand.

Market Position

The company stated that it has a leading or top 2 market share position in 75% of the niche markets it currently serves.

Negative Factors

Earnings Per Share

EPS of $0.48 fell short relative to the $0.52 estimate as well as the consensus expectation of $0.50.

Operating Margin

The company’s guidance suggests that 2025 is likely to represent a bit of a pause in terms of operating margin expansion.

Valuation Concerns

Valuation concerns lead to a MARKET PERFORM investment rating on LMAT shares, given the current market environment where premium multiples may be harder to capture.

Lemaitre Vascular Business Overview & Revenue Model

Company Description

LeMaitre Vascular, Inc. designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. It offers angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; perfusion catheters to perfuse the blood and other fluids into the vasculature; and thrombectomy catheters, which features a silicone balloon for removing thrombi in the venous system. The company also provides carotid shunts that temporarily shunt the blood to the brain during the removal of plaque from the carotid artery in a carotid endarterectomy surgery; and radiopaque tape, a medical-grade tape applied to the skin that enables interventionists to cross-refer between the inside and the outside of a patient's body, and allows them to locate tributaries or lesions beneath the skin. In addition, it offers valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and vascular grafts to bypass or replace diseased arteries. Further, the company provides vascular and cardiac patches, which are used for closure of vessels after surgical intervention; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.

How the Company Makes Money

Lemaitre Vascular generates revenue primarily through the sale of its medical devices and products used in vascular surgery. Key revenue streams include direct sales of vascular grafts and stent grafts to hospitals and surgical centers, as well as recurring revenues from the sale of consumables associated with these procedures. The company also benefits from strategic partnerships with healthcare providers and distributors, which expand its market reach and enhance its sales capabilities. Additionally, Lemaitre Vascular invests in research and development to introduce new products, driving future growth and revenue potential.

Lemaitre Vascular Financial Statement Overview

Summary

Lemaitre Vascular demonstrates strong financial health with consistent revenue growth, robust profitability margins, and a stable balance sheet. The company maintains healthy margins, with a gross profit margin of 68.8% and a net profit margin of 19.96%. Cash flow generation is strong, supporting ongoing operations and potential growth initiatives.

Income Statement

Lemaitre Vascular shows strong financial performance with a consistent revenue growth rate, reaching 3.7% in TTM. The company maintains healthy margins, with a gross profit margin of 68.8% and a net profit margin of 19.96% in TTM. EBIT and EBITDA margins are also robust at 25.32% and 27.23%, respectively, indicating efficient operations and profitability.

Balance Sheet

The balance sheet reflects a stable financial position with a manageable debt-to-equity ratio of 0.53 in TTM, suggesting moderate leverage. Return on equity is solid at 13.53%, indicating effective use of equity capital. The equity ratio stands at 62.8%, highlighting a strong equity base relative to total assets.

Cash Flow

Cash flow analysis reveals positive trends, with a significant free cash flow growth rate of 27.24% in TTM. The operating cash flow to net income ratio is 1.94, demonstrating strong cash generation relative to net income. The free cash flow to net income ratio of 0.85 indicates efficient conversion of earnings into cash.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	234.64M	219.86M	193.48M	161.65M	154.42M	129.37M
Gross Profit	162.16M	150.90M	127.05M	104.90M	101.38M	84.62M
EBITDA	72.32M	66.75M	48.99M	36.92M	45.98M	36.89M
Net Income	47.12M	44.04M	30.11M	20.64M	26.91M	21.22M
Balance Sheet
Total Assets	577.59M	551.82M	346.78M	310.48M	292.80M	252.81M
Cash, Cash Equivalents and Short-Term Investments	319.49M	299.72M	105.07M	82.69M	69.96M	26.98M
Total Debt	185.89M	185.69M	19.09M	16.60M	15.94M	54.78M
Total Liabilities	214.91M	214.53M	48.88M	42.27M	38.65M	80.24M
Stockholders Equity	362.69M	337.29M	297.90M	268.20M	254.15M	172.57M
Cash Flow
Free Cash Flow	52.32M	37.16M	29.49M	22.15M	30.22M	31.82M
Operating Cash Flow	58.76M	44.12M	36.75M	25.38M	35.10M	34.80M
Investing Cash Flow	-207.43M	-200.12M	-24.71M	-10.37M	-61.08M	-52.89M
Financing Cash Flow	152.93M	158.10M	-7.13M	-9.23M	13.70M	32.16M

Lemaitre Vascular Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 97.49
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LMAT, the sentiment is Positive. The current price of 97.49 is above the 20-day moving average (MA) of 95.58, above the 50-day MA of 88.20, and above the 200-day MA of 89.67, indicating a bullish trend. The MACD of 2.37 indicates Positive momentum. The RSI at 64.32 is Neutral, neither overbought nor oversold. The STOCH value of 62.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LMAT.

Lemaitre Vascular Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LMAT	76 Outperform	$2.21B	47.35	13.81%	0.78%	14.11%	23.98%
ATRC	61 Neutral	$1.76B	―	-7.85%	―	16.28%	10.63%
BLFS	60 Neutral	$1.27B	―	-5.98%	―	-18.61%	92.36%
OSUR	57 Neutral	$236.23M	25.27	-12.65%	―	-49.35%	-285.61%
STAA	56 Neutral	$1.38B	55.81	-25.55%	―	-32.59%	-667.81%
ANGO	55 Neutral	$436.00M	―	-17.50%	―	-3.76%	81.78%
Sector *	51 Neutral	$7.95B	-0.40	-42.50%	2.21%	22.29%	-1.85%

Lemaitre Vascular Corporate Events

LeMaitre Vascular Appoints Dorian LeBlanc as CFO

On February 7, 2025, LeMaitre Vascular, Inc. announced the appointment of Dorian LeBlanc as Chief Financial Officer, effective March 10, 2025. Mr. LeBlanc brings extensive experience from his previous roles at LumiraDx Limited and Alere Inc., enhancing LeMaitre’s financial leadership. His compensation package includes a base salary, performance bonus, and equity awards, with severance terms outlined in case of termination without cause, signaling a strategic reinforcement of the company’s financial management team.