Analyst Raises Price Target on Lemaitre Vascular (NASDAQ: LMAT) by 27.1%

Stifel Nicolaus's Rick Wise upgraded their rating on Lemaitre Vascular (NASDAQ: LMAT) from Hold to Strong Buy on 2024/04/26. The analyst also raised their price target by 27.1% from $59 to $75. Wise's price target hike was delivered in a preview of Lemaitre Vascular's Q1 2024 earnings, scheduled for release on 2024/05/02. The analyst believes the company's numerous measures to improve top-line growth and increase margins will result in "more appealing, evolving, and long-term growth and profitability prospects."

According to Wise, the optimistic outlook for Lemaitre Vascular is supported by several factors. These include continuing price hikes, substantial margin improvement, and steady sales force additions. The analyst's positive sentiment towards the company is reflected in their upgrade from Hold to Strong Buy, indicating a high level of confidence in Lemaitre Vascular's future prospects.

Notably, Wise also raised their price target on Edwards Lifesciences Corp by 2.4%, from $83 to $85, while maintaining their Hold rating. This suggests that Wise sees greater potential for growth in Lemaitre Vascular compared to Edwards Lifesciences Corp.

The analyst consensus on Lemaitre Vascular is overwhelmingly positive, with 100% of top-rated analysts currently rating the stock as either a Strong Buy or Buy. No analysts consider it a Hold, and there are no recommendations to sell the stock. This level of consensus among analysts further bolsters the positive outlook for the company.

Analysts forecast that Lemaitre Vascular's upcoming year will deliver earnings per share (EPS) of $1.49. If these predictions hold true, it would represent a 9.5% increase on a year-over-year basis. This anticipated growth is in line with the company's efforts to improve top-line growth and increase profitability.

In terms of stock performance, Lemaitre Vascular has shown positive momentum. Since the last quarterly report on 2023/12/31, the stock price has increased by 15.3%. On a year-over-year basis, the stock is up 21.2%. However, it's worth noting that during this period, Lemaitre Vascular has slightly trailed the performance of the S&P 500, which has increased by 25.7%.

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