Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Why LeMaitre Vascular Is A Market Leader In Core Segments: Oppenheimer Initiates With Outperform Rating

Published 06/09/2023, 20:04
Updated 06/09/2023, 21:10
© Reuters.  Why LeMaitre Vascular Is A Market Leader In Core Segments: Oppenheimer Initiates With Outperform Rating
LMAT
-

Benzinga - by Vandana Singh, Benzinga Editor.

Oppenheimer has initiated coverage on LeMaitre Vascular Inc (NASDAQ: LMAT) with an Outperform rating and a price target of $70.

Analysts Suraj Kalia and Shaymus Contorno note that approximately 90% of current sales are generated from ~1/3rd of its core markets, including ePTFE grafts, biologic & allografts, carotid shunts, embolectomy and occlusion catheters, and valvulotomes thus allowing it No. 1 or No. 2 status in these segments, while avoiding hand-to-hand combat with larger players in other segments

About 11,000 vascular surgeons from 4,800 hospitals utilize LMAT's products, with an average yearly billing ranging from $35k-$40k. This widespread adoption promotes user loyalty and allows LMAT to maintain a pricing advantage, reflected by a 4-8% CAGR growth in the past four years.

LMAT's targeted approach in vascular surgery is further enhanced by its tactic of pursuing smaller strategic acquisitions.

With a track record of securing roughly 70% of their 24 acquisition endeavors over the past 20 years, LMAT stands strong in the industry. Their significant purchase of Artegraft in 2020 contributed to about a sixth of their total sales, indicating that LMAT is due for another major acquisition.

Price Action: LMAT shares are up 2.55% at $56.70 on the last check Wednesday.

Latest Ratings for LMAT

DateFirmActionFromTo
Sep 2021JefferiesInitiates Coverage OnBuy
Aug 2021Roth CapitalMaintainsNeutral
May 2021Roth CapitalMaintainsNeutral
View More Analyst Ratings for LMAT

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.