Oppenheimer Starts LeMaitre Vascular (LMAT) at Outperform, 'Niche Player in Vascular Surgery'

Oppenheimer analyst Suraj Kalia initiates coverage on LeMaitre Vascular (NASDAQ: LMAT) with a Outperform rating and a price target of $70.00.

The analyst comments "We are initiating coverage of LeMaitre Vascular with an OP rating, and a 12-18-month PT of $70. LeMaitre, based in MA, is a small-cap vascular surgery play with a core focus on underserved, niche segments such as biologic or synthetic grafts, carotid shunts, and valvulotomes, among others. The company is currently annualizing ~$195M in sales, most of which are direct in nature with ~60% US contribution. LMAT's target markets are characterized by end-user stickiness, high switching costs, and pricing power. To complement these market characteristics, LeMaitre has an active M&A program with tuck-in products. These characteristics have helped it deliver a consistent 12% CAGR. Hence, our constructive stance."

For an analyst ratings summary and ratings history on LeMaitre Vascular click here. For more ratings news on LeMaitre Vascular click here.

Shares of LeMaitre Vascular closed at $58.18 yesterday.

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