LeMaitre Vascular’s growth potential earns Buy stock rating from Roth/MKM By Investing.com

On Friday, Roth/MKM resumed coverage on LeMaitre Vascular (NASDAQ:LMAT) stock with a Buy rating and a price target of $100.00. The firm highlighted the company’s strong positioning in the vascular surgery market and its potential for significant earnings growth in 2024.

LeMaitre Vascular is recognized as a leading company in the approximately $800 million vascular surgery market, holding either the number one or number two market share position in most of its product offerings. According to Roth/MKM, this prominence affords LeMaitre significant pricing power and operating leverage.

The firm also noted LeMaitre’s capability to integrate smaller, undercapitalized products and companies, which could further strengthen its market position. The infrastructure of LeMaitre Vascular is seen as a key factor in its ability to potentially consolidate additional market share through strategic acquisitions.

Looking ahead to 2024, Roth/MKM anticipates LeMaitre Vascular to experience strong earnings per share (EPS) growth, estimated at 33%. This projection is supported by expectations of double-digit growth in the company’s top-line revenue, alongside improvements in both operating and gross margins.

The analyst’s statement underscored confidence in LeMaitre’s outlook, “LMAT is unusually well positioned as the dominant player in the ~$800 million vascular surgery market with #1 or #2 market share positions in most of its offerings.” The anticipated growth for LeMaitre Vascular is attributed to the company’s robust market presence and operational efficiencies.

InvestingPro Insights

Complementing the positive outlook from Roth/MKM, LeMaitre Vascular’s (NASDAQ:LMAT) fundamentals reflect a company with solid growth prospects. Real-time data from InvestingPro shows a robust Revenue Growth of 18.16% over the last twelve months as of Q1 2024, highlighting the company’s expanding market presence. Additionally, the Gross Profit Margin stands at an impressive 66.45%, demonstrating LeMaitre’s ability to maintain profitability amidst its growth trajectory.

InvestingPro Tips indicate that LeMaitre Vascular has not only raised its dividend for 13 consecutive years but also maintains a consistent dividend growth, with a 14.29% increase in the last twelve months as of Q1 2024. This consistency is a testament to the company’s financial health and commitment to shareholder returns. Moreover, analysts have revised their earnings upwards for the upcoming period, signaling confidence in LeMaitre’s continued financial performance.

For readers looking to delve deeper into LeMaitre’s financials, additional insights are available on InvestingPro, including 17 more InvestingPro Tips that can further inform investment decisions. Interested investors can explore these tips and take advantage of the offer to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription using the coupon code PRONEWS24. With these resources, shareholders can better understand the potential behind the company’s Buy rating and $100.00 price target.

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