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Lemaitre Vascular (LMAT)
NASDAQ:LMAT
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Lemaitre Vascular
(NASDAQ:LMAT)
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Rating:75Outperform
Price Target:
$98.00
▲(12.31% Upside)
Lemaitre Vascular's overall stock score reflects strong financial performance and a balanced earnings outlook, despite technical indicators suggesting a bearish trend and a high valuation. The company's robust profitability and effective cost management are significant strengths, while challenges in the APAC market and a recent FDA warning letter present risks.
Lemaitre Vascular (LMAT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.93B
Dividend Yield0.95%
Average Volume (3M)131.07K
Price to Earnings (P/E)36.6
Beta (1Y)0.76
Revenue Growth13.07%
EPS Growth27.98%
CountryUS
Employees651
SectorN/A
Sector StrengthN/A
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)0.75
Shares Outstanding22,685,993
10 Day Avg. Volume144,773
30 Day Avg. Volume131,073
Financial Highlights & Ratios
PEG Ratio1.06
Price to Book (P/B)6.13
Price to Sales (P/S)9.41
P/FCF Ratio55.67
Enterprise Value/Market Cap0.00
Enterprise Value/Revenue0.00
Enterprise Value/Gross Profit0.00
Enterprise Value/Ebitda0.00
Forecast
1Y Price Target
$98.75Price Target Upside13.17% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Lemaitre Vascular Business Overview & Revenue Model
Company DescriptionLeMaitre Vascular, Inc. is a global medical device company specializing in vascular surgery. Headquartered in Burlington, Massachusetts, the company develops, manufactures, and markets a range of products focused on the treatment of vascular disease. Its core offerings include vascular grafts, stents, and surgical instruments designed for procedures related to peripheral vascular disease and other vascular conditions. LeMaitre Vascular operates primarily in the healthcare sector, catering to hospitals and surgical centers worldwide.
How the Company Makes MoneyLeMaitre Vascular generates revenue through the sale of its medical devices and surgical products, which are essential for vascular surgeries. The company has multiple key revenue streams, including sales of its proprietary vascular grafts, which are used in bypass surgeries, and various specialty products that assist in surgical procedures. The company also earns income from licensing agreements and collaborations with other healthcare providers and organizations. Significant partnerships with hospitals and surgical centers further enhance its market reach, while ongoing investments in research and development help introduce innovative products that drive sales growth.
Lemaitre Vascular Earnings Call Summary
Earnings Call Date:Nov 06, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 19, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed outlook. LeMaitre Vascular reported strong organic sales growth, international expansion success, and improved gross margins, but faced challenges related to a catheter recall, struggles in the APAC region, and a lowered revenue guidance due to FX changes. The sentiment is balanced with positive achievements and notable challenges.Q3-2025 Updates
Positive Updates
Strong Organic Sales Growth
LeMaitre Vascular reported an organic sales growth of 12% in Q3 2025, with a notable increase in gross margin. This growth was primarily led by Grafts (up 23%) and Shunts (up 18%).
International Expansion Success
The international launch of Artegraft exceeded expectations with Q3 sales at $1.4 million and projected Q4 sales of $2 million. Artegraft grew 33% worldwide in Q3.
Record Gross Margin and Operating Income
Adjusted gross margin increased to 70.8%, driven by higher pricing, manufacturing efficiencies, and product mix. Adjusted operating income rose 29%, resulting in an adjusted operating margin of 28%.
Robust Cash Flow and Financial Position
LeMaitre ended Q3 with $343.1 million in cash and securities, generating $28.8 million in cash from operations and paying $4.5 million in dividends to shareholders.
Positive Pricing Strategy
The company implemented an 8% price increase for U.S. hospitals for 2026, with 55% of North American revenue now subject to price floors.
European Regulatory Approvals
LeMaitre received German approval for RestoreFlow and anticipates further EU approvals, accelerating international market entry.
Negative Updates
Impact of Catheter Recall
The April recall led to customers front-loading catheter purchases into Q2, reducing Q3 organic and unit growth.
Challenges in Asia Pacific Market
APAC region showed modest growth of 4%, with management changes in Korea and Japan contributing to recent struggles.
Lowered Revenue Guidance
Revenue guidance was lowered due to the impact of FX changes, catheter recall effects, and modest performance in Europe and APAC.
FDA Warning Letter
LeMaitre's Artegraft facility in New Jersey received an FDA warning letter related to its quality management system, although production and shipping were not affected.
Company Guidance
In the Q3 2025 financial results conference call for LeMaitre Vascular, Inc., the company reported significant growth metrics and provided optimistic guidance for the future. Organic sales growth for the quarter was 12%, with Grafts and Shunts increasing by 23% and 18% respectively. Geographically, EMEA sales grew by 18%, the Americas by 10%, and APAC by 4%. Price increases contributed 10% to the growth, while units accounted for 2%. Excluding catheters, which were impacted by an earlier recall, Q3 organic growth was 14%. The Artegraft launch exceeded expectations, with Q3 sales reaching $1.4 million and projections of $2 million for Q4. The company anticipates 40% operational income growth in Q4, translating to a 29% operating margin. LeMaitre also ended the quarter with $343.1 million in cash and securities, reflecting strong cash generation. The company is planning to increase its sales team to 165 reps by year-end and has published an 8% increase in its 2026 U.S. hospital price list.Lemaitre Vascular Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
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Lemaitre Vascular Technical Analysis
Negative
87.26
Price Trends
86.15
Negative
88.89
Negative
85.89
Negative
Market Momentum
-0.49
Negative
48.43
Neutral
51.08
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 87.26 is above the 20-day moving average (MA) of 83.92, above the 50-day MA of 86.15, and above the 200-day MA of 85.89, indicating a neutral trend. The MACD of -0.49 indicates Negative momentum. The RSI at 48.43 is Neutral, neither overbought nor oversold. The STOCH value of 51.08 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
UnderperformOutperform
Sector (―)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| ― | ― | ― | ― | ― | ― | ― | |
75 Outperform | $1.93B | 36.56 | 15.02% | 0.95% | 13.07% | 27.98% | |
71 Outperform | $2.04B | -68.50 | -6.11% | ― | 15.80% | 26.94% | |
61 Neutral | $550.84M | -17.43 | -17.10% | ― | 2.73% | 87.03% | |
52 Neutral | $1.21B | -370.74 | -5.20% | ― | -18.82% | 92.56% | |
48 Neutral | $171.44M | -2.97 | -15.30% | ― | -43.95% | -620.21% | |
46 Neutral | $1.25B | -12.37 | -24.65% | ― | -32.42% | -540.37% |
* Sector Average
LMAT
Lemaitre Vascular
84.51
-8.66
-9.29%
ANGO
AngioDynamics
13.64
4.63
51.39%
ATRC
Atricure
41.65
10.90
35.45%
OSUR
Orasure Technologies
2.41
-1.23
-33.79%
STAA
Staar Surgical
24.20
-0.40
-1.63%
BLFS
BioLife Solutions
25.47
-1.56
-5.77%
Lemaitre Vascular Corporate Events
LeMaitre Vascular’s Earnings Call: Growth Amid Challenges
Nov 8, 2025
LeMaitre Vascular’s recent earnings call painted a balanced picture of the company’s current standing and future prospects. The call highlighted strong organic sales growth and international expansion, alongside challenges such as a catheter recall and lowered revenue guidance due to foreign exchange fluctuations. The sentiment conveyed was one of cautious optimism, acknowledging both achievements and hurdles.
LeMaitre Vascular Reports Strong Q3 2025 Financial Growth
Nov 7, 2025
LeMaitre Vascular, Inc., a company specializing in the development, manufacturing, and marketing of vascular devices and implants, operates within the medical device industry, focusing on solutions for peripheral vascular disease.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.