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LeMaitre Vascular Inc . (NASDAQ:LMAT), a provider of medical devices for vascular surgery with a market capitalization of $2.2 billion, has appointed Dorian LeBlanc as its new Chief Financial Officer (CFO), effective March 10, 2025. The company, which InvestingPro analysis rates with "GREAT" financial health, has seen its stock surge 65% over the past year. The announcement was made in a recent SEC filing, detailing the terms of LeBlanc’s employment and his background.
LeBlanc, 50, brings extensive experience to LeMaitre, having recently served as CFO and later as Chief Operating Officer at LumiraDx Limited, which was acquired by Roche. His career also includes finance leadership roles at Alere Inc. and Camden National (NASDAQ:CAC) Corporation. LeBlanc earned his degrees from Bowdoin College and Northeastern University and is a licensed CPA in Maine. He joins a company that has maintained dividend payments for 14 consecutive years and operates with a healthy current ratio of 7.74, indicating strong liquidity.
Under the agreement with LeMaitre, LeBlanc will receive an annual base salary of $565,000, with the potential for a performance bonus up to $225,000. He will also be granted an annual equity award valued at $375,000 with a four-year vesting period, along with a one-time restricted stock unit award worth $100,000, also with four-year vesting. LeBlanc will be eligible for company-sponsored benefits and, if terminated without cause, a severance payment based on certain conditions.
The SEC filing indicated no material transactions involving LeBlanc exceeding $120,000 since the beginning of the company’s last fiscal year, nor any proposed transactions where he would have a material interest.
This executive transition comes as LeMaitre continues to position itself within the surgical and medical instruments sector, with revenue growing at nearly 15% in the last twelve months. According to InvestingPro, which offers comprehensive analysis through its Pro Research Reports covering 1,400+ US stocks, the company is currently trading above its Fair Value. The company’s stock is traded on The Nasdaq Global Market. The information for this article is based on a press release statement and financial data from InvestingPro.
In other recent news, Wells Fargo (NYSE:WFC) has initiated coverage on LeMaitre Vascular, assigning the stock an Equal Weight rating and establishing a price target of $95.00. LeMaitre Vascular, a notable player in specialized open vascular surgery markets, derives approximately 22% of its revenue from arteriovenous access for dialysis and about 15% from carotid endarterectomy. According to Wells Fargo’s evaluation, LeMaitre’s end markets are currently witnessing flat to low-single-digit volume growth.
The company’s strategy for organic growth includes hiring more sales representatives, expanding product approvals to new regions, improving cross-selling opportunities, and implementing price increases. Currently, LeMaitre Vascular’s stock is trading at around 45 times Wells Fargo’s estimated earnings per share for 2025, significantly higher than its historical average and its competitors.
Wells Fargo attributes the premium valuation of LeMaitre’s shares to investor confidence in the company’s effective pricing management and the potential for mergers and acquisitions to surpass market expectations. However, Wells Fargo believes that the current stock price already reflects an optimistic view of the company’s potential for pricing and volume growth for 2025 and beyond. These are the recent developments regarding LeMaitre Vascular.
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