LeMaitre: Set for worst day in 9-1/2 years on weak Q1 report

LeMaitre Vascular

26/04/2018 16:42

** Medical device maker's shares  LMAT.O  down 22.8 pct at
$30.11 in morning trade and on pace for their worst day in over
9-1/2 years
    ** Q1 rev, adj profit miss analysts' expectations; forecasts
Q2 rev well below consensus 
    ** Stifel downgrades to "hold" from "buy", says company had
a challenging quarter and over near term there appears to be a
lack of visible outperformance drivers
    ** Brokerage also cuts PT by $6 to $40, which implies ~3 pct
upside to stock's close on Weds. 
    ** More than 647 shares traded, 4,5x their 30-DMA
    ** Today's losses wipe out YTD gains, stock now down 4 pct
this year

 (Reporting by Amy Caren Daniel in Bengaluru)
 ((Reuters Messaging:
Amy.CarenDaniel.thomsonreuters.com@reuters.net))