On Mar 2, Zacks Investment Research raised LeMaitre Vascular Inc. LMAT to a Zacks Rank #1 (Strong Buy). The bullish view reflects impressive fourth-quarter 2015 results and the subsequent upward revision in estimates.
Why the Upgrade?
LeMaitre reported adjusted earnings of 13 cents per share, which beat the Zacks Consensus Estimate by a couple of cents and increased 18.2% from the year-ago quarter.
Total sales increased 9.6% (up 14% organically) year over year to $20.5 million which beat the Zacks Consensus Estimate by a whisker. The upside was primarily driven by increased sales of products such as XenoSure and TRIVEX. Increased sales of the OmniFlow biosynthetic graph provided an additional boost.
LeMaitre Vascular unveiled a positive guidance. The company projected a 7% (up 8% organically) year-over-year increase in sales to $20.2 million for the first quarter of 2016. Management further expects a gross margin of 71% and operating income of $2.9 million along with an operating margin of 14%.
Full-year 2016 sales are expected to increase 8% (9% organically) year over year to $84.7 million whereas full-year 2016 gross margin is expected at around 71% coupled with an operating income of $14.2 million (an increase of 23%).
Estimate Revisions
The Zacks Consensus Estimate for fiscal 2016 is currently pegged at 47 cents per share, which moved up 6.8% (3 cents) over the last 7 days. Over the same time frame, the Zacks Consensus Estimate for 2017 has been revised upward by 14.9% (7 cents) to the present 54 cents a share.
Other Stocks to Consider
One may also consider other favorably ranked stocks like Hill-Rom Holdings HRC, OraSure Technologies OSUR and Vascular Solutions VASC. All the stocks carry the same Zacks Rank as LeMaitre Vascular.
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