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LeMaitre Vascular, Inc. (NASDAQ:LMAT), a medical device company with a market capitalization of $1.86 billion and impressive revenue growth of ~13% in the last twelve months, conducted its annual meeting of stockholders on Monday. According to InvestingPro data, the company maintains a GREAT financial health score and has consistently raised its dividend for 14 consecutive years. During the meeting, shareholders voted on several key proposals, including the election of directors and the ratification of the company’s accounting firm.
Three Class I directors were elected to serve three-year terms. George W. LeMaitre received 18,389,000 votes in favor, with 1,621,733 votes withheld and 1,057,839 broker non-votes. David B. Roberts secured 18,223,556 votes, with 1,787,178 votes withheld and 1,057,839 broker non-votes. Martha Shadan garnered 15,217,924 votes, with 4,792,810 votes withheld and 1,057,839 broker non-votes.
Shareholders also approved the compensation of the company’s named executive officers. The advisory vote passed with 19,060,967 votes for, 913,117 against, 36,649 abstentions, and 1,057,839 broker non-votes.
In another advisory vote, stockholders decided on the frequency of future votes on executive compensation. The majority favored a one-year interval, with 16,990,007 votes for, compared to 18,302 for two years, 2,972,329 for three years, and 30,096 abstentions.
Additionally, the stockholders ratified the appointment of Grant Thornton LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. This decision was supported by 21,006,527 votes, with 43,143 against and 18,903 abstentions.
The information is based on a press release statement filed with the Securities and Exchange Commission.
In other recent news, LeMaitre Vascular Inc . reported its first-quarter 2025 earnings, highlighting a solid 13% organic sales growth with revenue reaching $59.9 million, surpassing the forecast of $58.13 million. However, the company’s earnings per share (EPS) of $0.48 fell short of the expected $0.51. Despite the earnings miss, LeMaitre Vascular raised its 2025 sales guidance to $245 million, reflecting confidence in sustained growth. The company plans to expand its sales force and launch new products to drive future growth. Analysts from Oppenheimer noted the company’s strong quarter and raised guidance, pointing to factors such as autograft clearance and pricing strategy improvements. LeMaitre Vascular is also focusing on strategic expansions, including potential mergers and acquisitions within a $15 million to $150 million revenue range. Additionally, the company is navigating international market challenges, such as trade tensions with China, while maintaining a positive outlook on its long-term business prospects.
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