Following our “Best Months” Seasonal MACD Buy Signal on November 5, 2020 we ran our screens and LeMaitre Vascular (LMAT) was added to our portfolio at $37.29, recalls Jeffrey Hirsch, seasonal timing expert and editor of Stock Trader's Almanac.
Covid-19 and the shortest bear market on record last year triggered sharp drops in Q2 results and rapid rebounds in Q3.
This stock exhibited relatively low price-to-sales and price-to-earnings ratios while their sales and earnings numbers fared well in Q2 and Q3. The shares also remained under Wall Street’s radar with only a few analysts following the stock.
LeMaitre Vascular took a bit of a sales hit in in Q2 2020 as the Covid-19 lockdown halted most non-emergency medical procedures and elective surgeries.
But this small, yet leading global provider and innovator of peripheral vascular disease treatments and solutions barely skipped a beat and continued to grow by expanding the reach of existing products and developing and acquiring other specialty vascular product concerns.
LMAT’s Q1 results also impressed Wall Street with a revenue increase of 17% and EPS up a stellar 83%, plus they held their dividend steady at $0.11/share.
In May the firm received CE marks under the European Medical Devices Directive for the following five products: XenoSure Biologic Patches, AlboGraft Polyester Vascular Grafts, Pruitt Carotid Shunts, Flexcel Carotid Shunts and AnastoClip Closure Systems.
LMAT has been busy courting The Street over the past six months as well, presenting at nine investor conferences:
- SVB Leerink’s 10th Annual Global Healthcare Conference
- Barclays Global Healthcare Conference
- 33rd Annual Roth Conference
- Oppenheimer 31st Annual Healthcare Conference
- Needham Virtual Healthcare Conference
- 7th Annual Truist Securities Life Sciences Summit
- UBS Global Healthcare Virtual Conference
- Jefferies Virtual Healthcare Conference
- Goldman Sachs 42nd Annual Virtual Global Healthcare Conference
As we are two months into the "Worst Six Months" for stocks (May-October) and on the cusp of the Worst Four Months (July-October) the stock is now on HOLD. That is a true HOLD. If you own, we do not suggest selling.