LeMaitre Vascular, Inc. (LMAT) Stock

LeMaitre Vascular, Inc. (LMAT) is a Healthcare stock trading at $82.36 (as of 2026-08-20), with a market capitalization of $1.88B and a trailing P/E of 28.6. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

LeMaitre Vascular, Inc. designs, markets, sells, services, and supports medical devices and implants for treating peripheral vascular disease. Its product categories include vascular catheters (such as viewing, removal, occlusion, and perfusion types) and accessories and implants used in procedures such as carotid endarterectomy and vascular bypass.

Understand LeMaitre Vascular, Inc.: how it makes money

LeMaitre Vascular designs, markets, sells, services, and supports medical devices and implants for peripheral vascular disease, including catheters and related tools, which it sells worldwide.

The profit engine is selling a focused set of vascular procedure products in markets where LeMaitre holds leading position, supported by a sizable direct sales force (high market share plus direct coverage can support strong operating profitability).

Business quality (Solid): Strong margin data and clear operating-share and sales-force metrics are provided, but there is no clean, confirmed reportable segment breakdown in the supplied facts.

Valuation: At 35× earnings, LMAT trades in line with the Medical Equipment average (32×). Note: one-time items can distort reported P/E.

Bull case

Leading market position in key markets: LeMaitre Share in Number One or Two Markets is 85%, indicating the company holds top or near top share in many relevant markets.
Execution reach through direct selling: The company has 152 sales representatives (and 164 sales force representatives), with direct selling in 29 countries, which can support adoption and procedure access.
Procedure-facing product specialization: Sales share by surgeon type shows 80% to vascular surgeon and 12% to cardiac surgeon, consistent with a targeted clinical footprint.

Bear case

Geographic revenue dependence: Sales share is 62% in Americas, 31% in EMEA, and 7% in APAC, so results may be sensitive to demand and payer or hospital dynamics in those regions.
Market share not universally top tier: If 85% of the footprint is in number one or two markets, the remaining portion is outside top ranks, which leaves room for competitive pressure to impact sales mix.
Direct sales effectiveness is important: Coverage relies on a defined sales force size (152 sales representatives), with a distribution across regions and countries, so execution and retention of that coverage matters.

Valuation — source: SEC EDGAR (first-party)
Price	$82.36
Market Cap	$1.88B
P/E Ratio	28.6
EV / EBITDA	19.6
Price / Book	4.48
Price / Sales	7.12
FCF Yield	5.5%
DCF Value (model)	$35.40
DCF Upside vs Price	-57.0%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$249.60M
Net Margin	23.1%
Revenue Growth (YoY)	13.5%
EPS Growth (YoY)	30.1%
FCF Growth (YoY)	100.4%

Financial Health — source: SEC EDGAR
Altman Z-Score	7.10 (safe)

Valuation vs Sector & Industry
Stock P/E	28.6
Sector P/E (Healthcare)	21.6
Industry P/E (Medical Equipment)	32.9
vs Sector	32.6%
vs Industry	-12.9%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	BlackRock, Inc. ($343.25M)
Institutional Holders Tracked	10

Company
Sector	Healthcare
Industry	Medical Equipment
CEO	George W. LeMaitre
Employees	651
Country	US
IPO Date	2006-10-19

Related Companies (Business model: Medical Devices / Life Science Tools; 8 closest by market cap; US-domiciled)

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.