George W. LeMaitre, the Chairman and CEO of LeMaitre Vascular Inc. (NASDAQ:LMAT), a company specializing in surgical and medical instruments, has sold a significant amount of company stock, according to recent filings. Over a span of several days, LeMaitre executed multiple transactions resulting in the sale of company shares worth over $9.3 million.
The series of sales took place between May 6 and May 8, 2024, with prices per share ranging from $75.2308 to $76.1211. These transactions were executed under a 10b5-1(c) trading plan, which allows insiders of publicly-traded corporations to set up a trading plan for selling stocks they own. This plan was adopted on June 2, 2023, as indicated in the footnotes of the filing.
On May 6, the CEO sold 23,206 shares at an average price of $76.1211, with individual trades ranging from $76.01 to $76.24. On the same day, another 29,500 shares were sold at an average price of $75.2308, with trades varying from $74.68 to $75.635. Additionally, 16,200 shares were sold at an average price of $75.9406, with a range from $75.6846 to $76.23.
The sales continued on May 7, with 26,044 shares sold at an average price of $75.2389, and trades ranging from $74.5584 to $75.5484. Another 20,256 shares were sold at an average price of $75.856, with trades between $75.55 to $76.085. On May 8, LeMaitre sold 8,000 shares at an average price of $75.30340, with the price of individual trades spanning from $74.9289 to $75.66.
Following these transactions, George W. LeMaitre still holds a substantial number of shares in the company, with 2,079,128 shares remaining in his possession. The sales were reported in accordance with SEC regulations, and the reporting person has committed to providing full information regarding the number of shares and prices at which the transactions were effected upon request.
Investors and followers of LeMaitre Vascular Inc. often monitor the buying and selling activities of insiders like George W. LeMaitre as an indicator of the company's health and future prospects. However, it's important to note that these transactions do not necessarily signal a change in company strategy or outlook.
InvestingPro Insights
As investors scrutinize the recent stock sales by LeMaitre Vascular Inc.'s Chairman and CEO, George W. LeMaitre, it's crucial to consider the company's financial health and market performance for a comprehensive analysis. LeMaitre Vascular, with a market capitalization of $1.68 billion, has demonstrated robust revenue growth, with an increase of 18.16% over the last twelve months as of Q1 2024. This growth is reflected in the company's gross profit margin, which stands at an impressive 66.45% for the same period. Additionally, the company has experienced a significant price total return over the last six months, amounting to 54.31% as of the date provided.
Among the notable InvestingPro Tips for LeMaitre Vascular, the company has raised its dividend for 13 consecutive years, underscoring its commitment to shareholder returns. Furthermore, six analysts have recently revised their earnings forecasts upwards for the upcoming period, signaling potential optimism in the company's financial prospects. It's important to mention that LeMaitre Vascular's P/E ratio is currently at 49.07, which is considered high, potentially indicating that the stock is trading at a premium relative to its earnings.
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