Shares of LeMaitre Vascular Inc. dropped to a 52-week low of $78.64 on Friday, extending a year-over-year decline to 16.96% as the medical device manufacturer reported second-quarter results that fell short of Wall Street expectations.
The Burlington, Massachusetts-based company posted adjusted earnings of $0.74 per share on revenue of $70.4 million for the quarter, missing analyst forecasts for $0.81 per share and $71.47 million in sales. While LeMaitre reported a rise in profit and revenue compared with the prior-year period, the figures underperformed projections, contributing to the selloff.
LeMaitre’s stock was last trading at $78.77, just 1% above its 52-week low of $78.65. The decline follows a broader trend in the medical device sector, where investors have grown cautious amid mixed earnings reports and shifting growth outlooks.
InvestingPro analysis described the stock as undervalued relative to its fair value, assigning a "GREAT" financial health score and a PEG ratio of 0.71. Despite the valuation metrics, the company’s downward revision to its full-year growth outlook weighed on sentiment. LeMaitre did not provide specific details on the revised guidance in the report.
The stock’s 52-week low comes as the broader market grapples with economic uncertainty and sector-specific headwinds, including supply chain challenges and pricing pressures in the medical device industry.
