Medical device company LeMaitre Vascular (NASDAQ:LMAT) will be reporting earnings this Wednesday after the bell. Here’s what you need to know.
LeMaitre missed analysts’ revenue expectations last quarter, reporting revenues of $70.38 million, up 9.6% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EPS guidance for next quarter estimates and a significant miss of analysts’ EPS estimates.
Is LeMaitre a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting LeMaitre’s revenue to grow 10.4% year on year, in line with the 11.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. LeMaitre has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at LeMaitre’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Intuitive Surgical delivered year-on-year revenue growth of 21.7%, beating analysts’ expectations by 5.3%, and Integra LifeSciences reported revenues up 2.3%, in line with consensus estimates. Intuitive Surgical traded down 2.3% following the results while Integra LifeSciences was also down 7.5%.
Read our full analysis of Intuitive Surgical’s results here and Integra LifeSciences’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.4% on average over the last month. LeMaitre’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $107 (compared to the current share price of $81.75).
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