Lemaitre Vascular (LMAT) AI Stock Analysis

• Market Cap: $1.87B
• Dividend Yield: 0.97%
• Average Volume (3M): 168.13K
• Price to Earnings (P/E): 41.8
• Beta (1Y): 0.80
• Revenue Growth: 13.19%
• EPS Growth: 31.73%
• Country: US
• Employees: 651
• Sector: Healthcare
• Sector Strength: 42
• Industry: Medical - Instruments & Supplies
• EPS (TTM): 0.48
• Shares Outstanding: 22,594,362
• 10 Day Avg. Volume: 197,810
• 30 Day Avg. Volume: 168,128
• PEG Ratio: -1.89
• Price to Book (P/B): 3.77
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 45.66
• Enterprise Value/Market Cap: 0.54
• Enterprise Value/Revenue: 1.17
• Enterprise Value/Gross Profit: 6.48
• Enterprise Value/Ebitda: 4.18
• 1Y Price Target: $108.60
• Price Target Upside: 31.52% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 8

• Rating: 70 Outperform
• Price Target: $91.00 ▲(10.21%Upside)

Lemaitre Vascular's overall stock score is driven by its strong financial performance and positive earnings call sentiment, which are offset by bearish technical indicators and a high valuation. The company shows resilience and growth potential, but its high P/E ratio and current market trends suggest cautious optimism.

Positive Factors

Cash Flow

Free cash flow in the quarter was around $7.6 million versus the $3.6 million in FCF generated in the comparable quarter a year ago.

Financial Strategy

LeMaitre has a largely successful history of augmenting its organic growth with contributions from M&A activity, and it is expected to utilize its strong balance sheet for future M&A.

Revenue Growth

Revenue of $59.9 million solidly beat our Street-high estimate of $58.0 million.

Negative Factors

Earnings Performance

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

Revenue Expectations

Q4 revenue was below Street expectations.

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 through the sale of its medical devices to hospitals and healthcare facilities worldwide. The company's key revenue streams include the sale of vascular grafts, patches, biologic vascular solutions, and other peripheral vascular devices. By maintaining a robust portfolio of FDA-approved and CE-marked products, Lemaitre ensures a steady demand from healthcare providers. The company also benefits from strategic acquisitions of complementary businesses and technologies, which expand its product offerings and market reach. Additionally, Lemaitre's focus on innovation and research and development allows it to introduce new and improved products, further driving sales and revenue growth.

Lemaitre Vascular Financial Statement Overview

Summary

Lemaitre Vascular exhibits strong financial health with consistent revenue growth, substantial profit margins, and solid cash flow management. The balance sheet reflects a well-managed leverage profile, supporting the company's stability and future growth prospects.

Income Statement

Lemaitre Vascular shows strong revenue growth with a TTM increase of 3.0% and robust profit margins. The gross profit margin stands at 68.8% and the net profit margin at 20.0%, both indicating efficient cost management and profitability. The EBIT margin is solid at 23.4%, with EBITDA margin at 27.2%, reflecting good operational efficiency.

Balance Sheet

The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.53, indicating moderate leverage. The return on equity (ROE) is 13.0%, showcasing effective use of equity to generate profits. The equity ratio is 62.5%, suggesting a strong capital structure with ample equity compared to total assets.

Cash Flow

Lemaitre Vascular demonstrates positive cash flow metrics with a free cash flow growth rate of 10.6%. The operating cash flow to net income ratio of 1.06 and free cash flow to net income ratio of 0.91 indicate good cash conversion and liquidity.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	226.26M	219.86M	193.48M	161.65M	154.42M	129.37M
Gross Profit	155.66M	150.90M	127.05M	104.90M	101.38M	84.62M
EBITDA	61.61M	52.26M	48.99M	36.92M	45.98M	36.89M
Net Income	45.16M	44.04M	30.11M	20.64M	26.91M	21.22M
Balance Sheet
Total Assets	556.01M	551.82M	346.78M	310.48M	292.80M	252.81M
Cash, Cash Equivalents and Short-Term Investments	302.55M	299.72M	105.07M	82.69M	69.96M	26.98M
Total Debt	185.36M	185.69M	19.09M	16.60M	15.94M	54.78M
Total Liabilities	208.43M	214.53M	48.88M	42.27M	38.65M	80.24M
Stockholders Equity	347.57M	337.29M	297.90M	268.20M	254.15M	172.57M
Cash Flow
Free Cash Flow	41.12M	37.16M	29.49M	22.15M	30.22M	31.82M
Operating Cash Flow	48.09M	44.12M	36.75M	25.38M	35.10M	34.80M
Investing Cash Flow	-202.08M	-200.12M	-24.71M	-10.37M	-61.08M	-52.89M
Financing Cash Flow	152.82M	158.10M	-7.13M	-9.23M	13.70M	32.16M

Lemaitre Vascular Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 82.57
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LMAT, the sentiment is Negative. The current price of 82.57 is below the 20-day moving average (MA) of 82.62, below the 50-day MA of 83.74, and below the 200-day MA of 90.53, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 49.03 is Neutral, neither overbought nor oversold. The STOCH value of 58.50 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LMAT.

Lemaitre Vascular Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LMAT	70 Outperform	$1.87B	41.75	13.77%	0.97%	13.19%	31.73%
LGND	64 Neutral	$2.20B	48.01	-16.56%	―	53.40%	-230.86%
MNKD	63 Neutral	$1.14B	37.71	-35.00%	―	32.50%	236.33%
Sector *	60 Neutral	HK$15.14B	5.55	-7.43%	4.78%	11.72%	-20.69%
ETNB	42 Neutral	$1.44B	―	-69.30%	―	―	-68.13%
BGM		$2.20B	―	-3.37%	―	―	―
SDGR	59 Neutral	$1.51B	―	-43.33%	―	22.29%	-32.89%

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.