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LeMaitre Vascular, Inc.
$1.8B
Market Cap
32.2
P/E
1.46
PEG
21.9%
ROCE
15.8%
ROE
0.47
D/E
25.3%
OPM
-32.5%
% from 52W High
27
α RS
🔍 LMAT is showing a high-conviction setup because it matches 16 of 39 tracked screener presets, an ECS of 64.3 last quarter, and steady_dividend preset's Backtest win rate is 57.8% over 90 days. Net: Broad signal stack, not a recommendation. ? Conviction ECS Backtest
Sources
Conviction 16/39 · ECS 64.3 · Backtest win rate 57.8%
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📈 Price History
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About

LeMaitre Vascular, Inc. develops, manufactures, and markets medical devices and implants used in the field of vascular surgery in the Americas, Europe, the Middle Esat, Africa, and the Asia Pacific. The company offers allografts, which are cryopreserved human tissue grafts used in vascular reconstruction, and cardiac repair and reconstruction; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature, as well as human cadaver tissue cryopreservation services. It provides a suite of biologic products comprising artegraft biologic graft, a bovine carotid artery used for dialysis access; XenoSure biologic patches used for vessel closure after surgical intervention; VascuCel and CardioCel biologic patches, used in vessel repair, heart repair and reconstruction, and neonatal repairs; carotid shunts that temporarily shunt the blood to the brain; biosynthetic vascular grafts indicated for lower extremity bypass and dialysis access; phlebectomy system for resection and ablation of varicose veins; LifeSpan vascular grafts, which are expanded polytetrafluoroethylene grafts; and vascular grafts used to bypass or replace diseased arteries. In addition, the company offers radiopaque tape, a medical-grade tape; valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.

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📈 Growth Pattern
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⭐ Superinvestors Holding LMAT
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 138.5K $15.1M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
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📊 MIXED LeMaitre Vascular Q1 2026: 11% sales growth, 42% EPS growth, 72.7% gross margin.
Revenue & Profitability
Q1 2026 revenue grew 11% organically; operating income was $17.8 million (up 41% YoY) and diluted EPS was $0.68 (up 42%). Cash from operations was $15 million. Full-year 2026 guidance: revenue of $280 million (12% organic growth), operating income of $79.8 million (24% growth), and diluted EPS of $3.00 (26% growth). The effective tax rate benefited from FDII deductions.
Outlook
Management sees continued strong demand, citing 12% organic revenue growth guidance for 2026 and April sales growth of 13%. International expansion and new product launches are expected to drive growth. The Middle East disruption had a minimal impact ($175,000 export delay), and the company is not seeing broader supply chain issues yet.
Growth Drivers
Key growth drivers include Artegraft (36% growth in Q1, international expansion to Canada and other countries, longer sizes, and potential Quick Stick claim), RestoreFlow allograft (25% growth, European approvals underway), and direct country expansion (Poland in Q4 2026). Sales force is planned to grow from 158 to 170-180 reps by year-end. Price increases contributed 8% to organic growth.
Balance Sheet & CapEx
Q1 2026 CapEx was $2.8 million. Investments cited include the new Billerica warehouse, the ongoing transfer of RFA tissue processing to Burlington (expected completion by year-end), and the opening of an Irish warehouse for Pan-European distribution. These projects are expected to create long-term operational efficiencies.
Margins
Q1 2026 gross margin was 72.7%, up 350 bps YoY, driven by higher ASPs, manufacturing efficiencies, and positive product mix (especially Artegraft). Q2 gross margin guidance is 72.1%, impacted by new warehouse and RFA transfer costs. Operating margin was 27% in Q1, with Q2 guided at 30% and H2 at 29%. Tax rate improvements from FDII provide additional margin support.
Key Risks
Risks flagged include Middle East geopolitical disruption (delayed $175,000 export), regulatory timeline uncertainties for Artegraft Quick Stick claim (could take 2-6 years) and RFA approvals (slower than expected in Germany and Ireland), and execution risk in sales force expansion (16 open requisitions). M&A integration and supply chain cost increases were also noted.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-04
Q2 2026 saw 10% organic sales growth, led by Artegraft and strong EMEA/APAC performance, while EPS rose 23% and gross margin reached 72.1%. Guidance was trimmed to 11% organic growth due to FX, export delays, and supply constraints, but profitability and cash flow remain robust.
Q1 2026 Q1 2026 2026-05-05
Q1 2026 delivered 11% sales growth, 72.7% gross margin, and 42% EPS growth, driven by strong performance across all product categories and geographies. Artegraft led growth, with international sales expected to more than double in 2026. Full-year guidance was raised for revenue, margins, and EPS.
Q4 2025 Q4 2025 2026-02-25
Q4 2025 saw 16% sales growth, 71.7% gross margin, and 47% operating income growth, with strong international expansion and product launches. 2026 guidance projects 12% sales growth, 21% adjusted operating income growth, and continued margin expansion.
Q3 2025 Q3 2025 2025-11-06
Q3 delivered 12% organic growth, record margins, and strong cash flow, with biologics and international launches outperforming expectations. Full-year guidance was raised for revenue, operating income, and EPS, despite headwinds from a catheter recall and FX.
Q2 2025 Q2 2025 2025-08-05
Q2 2025 saw 15% sales growth, 70% gross margin, and 16% EPS growth, with strong performance in catheters, grafts, and international markets. Full-year guidance was raised across all key metrics, and new product launches and regulatory progress are expected to drive continued growth.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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