LeMaitre Vascular rises on upbeat FY revenue forecast, Q1 results

LeMaitre Vascular

03/05/2023 19:36

** Shares of medical device maker LeMaitre Vascular Inc
 LMAT.O  rise 16.75% to $64
    ** Company forecasts FY23 revenue at $187.1 mln-$193.1 mln,
vs analysts' avg. est. of $185.7 mln - Refinitiv
    ** Posts Q1 adj. earnings and revenue of 27 cents/shr and
$47.08 mln, respectively, vs analysts' est. of 25 cents/shr and
$43.54 mln
    ** Stock set to post its best day since Feb. 20, 2019, if
gains hold
    ** Jefferies raises PT on stock to $63 from $57; rates "buy"
    ** Barrington Research upgrades stock to "outperform" from
"market perform", with $62 PT
    ** Four of 7 analysts rate LMAT "buy" or higher, 3 "hold";
median PT is $62.5 – Refinitiv
    ** Including session's gains, stock up 38.37% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))