Spartan Capital Starts LeMaitre Vascular (LMAT) at Buy

Spartan Capital analyst Javier Fonseca initiates coverage on LeMaitre Vascular (NASDAQ: LMAT) with a Buy rating and a price target of $70.00.

• We are forecasting revenue of $154 million for this year and $172 million for 2022. We estimate revenue to currently be 80% from PVD device sales with continued momentum from the Valvulotomes, Allografts, Bovine Grafts, and Embolectomy Catheters.
• We value LMAT shares using a multiple of 8.9x our 2022 revenue estimate, in line with the 2022E comps average. Presently, it trades at a 10-15% discount, but as revenue growth accelerates, we expect this discount to narrow.

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 $57.34 yesterday.

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