LeMaitre Vascular Q2 Sales Slightly Miss, Guides Q3 Below Street
LMAT sits 16% above its 52-week low of $79.395.
Summary
LeMaitre Vascular reported Q2 sales of $70.38M, a 10% YoY increase but just shy of the $70.97M consensus. EPS rose 23% YoY, and gross margin expanded 210 bps on higher prices and mix. Artegraft sales surged 34%, driven by international launch, and grafts, shunts, and patches each hit records. However, Q3 guidance of $66.3M-$68.3M in sales and $0.66-$0.71 EPS came in below Street expectations, weighing on sentiment. Full-year sales are seen at $274.3M-$278.3M with EPS of $2.84-$2.94. The slight top-line miss and soft Q3 outlook may pressure the stock, which trades at 33x forward earnings. This follows a pattern of insider selling, including the CEO's $5M+ sale in May.
At the time of this announcement, LMAT was trading at $92.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.4B. The 52-week trading range was $79.40 to $118.01. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.