Lemaitre Vascular Inc. (LHU)
XMUN 
Summary
LeMaitre Vascular: The Q2 Miss Hides A Stronger Acquisition Machine
LeMaitre Vascular is rated a "Strong Buy" due to its robust M&A-driven business model, high margins, and recent valuation compression. LMAT's strategic shift to larger, higher-multiple acquisitions has improved its success rate to 80% and driven margin expansion, with gross margin rising from 65% to 72%. The company's healthy balance sheet, $376M in cash/short-term investments, and experienced management underpin its ability to pursue disciplined, accretive deals.
LeMaitre Vascular: 31% Drawdown On $0.02 Guidance Cut
LeMaitre Vascular remains a Buy after a 31% pullback, though I have trimmed my price target to $95-$100 for year-end 2027. The Q2 2026 miss was tied to currency, export blockages, and tissue shortages. Not underlying demand. Organic sales grew 10%, and margins hit record highs. Artegraft, now 21% of sales, is LMAT's largest and fastest-growing product. It is the main factor behind margin expansion and international growth prospects.
LeMaitre Vascular, Inc. (LMAT) Q2 2026 Earnings Call Transcript
LeMaitre Vascular, Inc. (LMAT) Q2 2026 Earnings Call Transcript
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Lemaitre Vascular Inc. Profile
| Electronic Equipment, Instruments & Components Industry | Information Technology Sector | George W. LeMaitre CEO | XMUN Exchange | US5255582018 ISIN |
| US Country | 651 Employees | 20 Aug 2026 Last Dividend | - Last Split | 19 Oct 2006 IPO Date |
Overview
LeMaitre Vascular, Inc. is a global company focused on the design, manufacture, and marketing of medical devices and implants for vascular surgery. Initially founded as Vascutech, Inc., the company transitioned to its current name in April 2001. With its beginnings in 1983 and headquartered in Burlington, Massachusetts, LeMaitre Vascular stands as a pioneer in the vascular health sector. It offers a diverse range of products, including devices for blood vessel viewing, blood clot removal, and vascular reconstruction, catering to the needs of surgeons and patients worldwide. The company’s approach combines innovative technology with practical applications in vascular surgery, distributing its products through a direct sales force and a network of distributors.
Products and Services
- Human Cadaver Tissue Cryopreservation Services: Provides preservation services for human cadaver tissues, making them available for various medical uses.
- Angioscope: A fiberoptic catheter for viewing the inside of blood vessels, aiding in diagnostics and surgery planning.
- Embolectomy Catheters: Designed for the removal of blood clots from arteries to restore normal blood flow and prevent tissue damage.
- Thrombectomy Catheters: Specialized catheters for removing thrombi in the venous system, essential in treating venous thromboembolism.
- Occlusion Catheters: Temporarily occlude blood flow to facilitate various surgical procedures without significant blood loss.
- Perfusion Catheters: Allow for the delivery of blood and other fluids into the vasculature, crucial for maintaining tissue viability during surgery.
- Artegraft Biologic Graft: A bovine carotid artery graft used primarily for dialysis access, offering a durable alternative to synthetic grafts.
- XenoSure Biologic Patches: Used for vessel closure after surgical interventions, promoting natural healing and vessel function restoration.
- VascuCel and CardioCel Biologic Patches: Biologic patches for vessel, heart, and neonatal repairs, made to integrate seamlessly with the body’s tissues.
- Carotid Shunts: Temporarily divert blood to the brain during carotid endarterectomy procedures, ensuring cerebral protection.
- Biosynthetic Vascular Graft: Indicated for lower extremity bypass and dialysis access, combining the benefits of synthetic and biologic graft materials.
- Vascular Grafts: Used to bypass or replace diseased arteries, these grafts are critical in restoring normal blood flow to affected limbs.
- Radiopaque Tape: A medical-grade tape that helps surgeons and interventionalists locate vascular tributaries or lesions beneath the skin.
- Valvulotomes: Instruments for modifying the saphenous vein to function as an artificial artery, a vital step in some bypass procedures.
- Closure Systems: Provide an alternative to sutures for attaching vessels, utilizing titanium clips for a secure, leak-proof connection.
Contact Information
