US$71.29 - That's What Analysts Think LeMaitre Vascular, Inc. (NASDAQ:LMAT) Is Worth After These Results
It's been a pretty great week for LeMaitre Vascular, Inc. (NASDAQ:LMAT) shareholders, with its shares surging 15% to US$70.00 in the week since its latest yearly results. LeMaitre Vascular reported in line with analyst predictions, delivering revenues of US$193m and statutory earnings per share of US$1.34, suggesting the business is executing well and in line with its plan. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year.
See our latest analysis for LeMaitre Vascular
Taking into account the latest results, the current consensus from LeMaitre Vascular's eight analysts is for revenues of US$211.7m in 2024. This would reflect a decent 9.4% increase on its revenue over the past 12 months. Per-share earnings are expected to bounce 22% to US$1.65. Before this earnings report, the analysts had been forecasting revenues of US$209.5m and earnings per share (EPS) of US$1.52 in 2024. So the consensus seems to have become somewhat more optimistic on LeMaitre Vascular's earnings potential following these results.
The analysts have been lifting their price targets on the back of the earnings upgrade, with the consensus price target rising 10% to US$71.29. The consensus price target is just an average of individual analyst targets, so - it could be handy to see how wide the range of underlying estimates is. Currently, the most bullish analyst values LeMaitre Vascular at US$84.00 per share, while the most bearish prices it at US$59.00. This shows there is still a bit of diversity in estimates, but analysts don't appear to be totally split on the stock as though it might be a success or failure situation.
These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the LeMaitre Vascular's past performance and to peers in the same industry. It's pretty clear that there is an expectation that LeMaitre Vascular's revenue growth will slow down substantially, with revenues to the end of 2024 expected to display 9.4% growth on an annualised basis. This is compared to a historical growth rate of 12% over the past five years. Compare this to the 242 other companies in this industry with analyst coverage, which are forecast to grow their revenue at 7.8% per year. So it's pretty clear that, while LeMaitre Vascular's revenue growth is expected to slow, it's expected to grow roughly in line with the industry.
The Bottom Line
The biggest takeaway for us is the consensus earnings per share upgrade, which suggests a clear improvement in sentiment around LeMaitre Vascular's earnings potential next year. They also reconfirmed their revenue estimates, with the company predicted to grow at about the same rate as the wider industry. There was also a nice increase in the price target, with the analysts clearly feeling that the intrinsic value of the business is improving.
Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple LeMaitre Vascular analysts - going out to 2026, and you can see them free on our platform here.
It is also worth noting that we have found 1 warning sign for LeMaitre Vascular that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
