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LeMaitre Vascular, Inc. Message Board

  • setsuko_from_shinjuku setsuko_from_shinjuku Oct 28, 2010 6:04 PM Flag

    valuation thesis

    Very nice quarter for LMAT.

    Here is true value of the shares (and why company is buying in its own shares)

    LMAT is now earning at the annual rate of $8M year (this and last quarter earning was $2M).. and because of growth in medical field... should get at least 15X.

    $8 x 15 = $120M
    plus $30M cash
    total easy market cap worth is $150M against 15M shares
    or $10/share...... easy

    much room for equity growth, even with this low PE and start of it growth curve.

    obviously, if acquired.... the PE ratio would be double 15X and about $20 for an interested acquirers

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    • I am with you. I was very surprised by the most recent dip in share price and thought there was some bad news coming! Is LMAT a big player in Japan,how did you get interested?

      • 1 Reply to rlewis128
      • Seems like the cashflow is strong enough, and the price low enough, that mgmt might just use the share repurchase to buy back the company. Don't give away your shares! $5M is close to 10% of the non-insider float.
        This share buyback is pretty high for such a small company. But I am glad they have held back from buying companies with their cash, the experience in Italy shows they need to do a better job of identifying the costs. I wonder what the VP of M&A has been doing? Hopefully, he is on leave.

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