Stock price of provider of peripheral vascular devices, implants and services LeMaitre Vascular Inc. (LMAT) fell -7.96% in premarket trading today, trading at $55.25 at last check. LeMaitre stock closed Tuesday’s trading session at $60.03, down -0.69%. The average volume of LMAT stock traded over the last three months was 134.99K, higher than its trading volume of 62023 on the day.

The LMAT stock fluctuated between $59.27 and $60.55 during trading. LMAT had earnings per share of $1.16. Over the past five sessions, the LMAT stock has gained 2.18% and over the past month, 6.42%, but has gained 48.22% over the last year. For LMAT stock, the 50-day moving average of $54.98 is above the 200-day moving average of $45.52. At the moment, the LMAT stock has a RSI of 57.03. LMAT stock declined following earnings release and public offering of common stock.

What has LMAT posted for the quarter?

More than 200 million people suffer from peripheral vascular disease, a condition that LeMaitre provides devices for treating. In addition to developing, manufacturing, and marketing disposable and implantable vascular devices, LMAT also serves its core market in the vascular surgery industry.

For the quarter ended June 30, 2021, LeMaitre has announced preliminary unaudited results.

In the second quarter of 2021, preliminary results show:

• LMAT posted net sales of $40.7 mm. This represents an increase of 64% from the second quarter of 2020.
• Compared to Q2 2020, LMAT gross margins were 65.5% to 66.1%, -2.7% at the midpoint.
• The operating income of LMATranges from $10.9mm to $11.3mm, an increase of 128% compared to Q2 2020.
• A cash and cash equivalent balance of $21.8 million was available at LMAT at last day of the reported period
• LMAT reported a Paydown of $9mm of debt to $23.0mm
• The Q2 sales growth was driven by Artegraft, which accounted for $6.7 million in sales, and by valvulotomes, shunts, and allografts, which made up the balance.
• Across all major geographies, Q2 sales of LMAT grew by +83% in the Americas, +36% in Europe/Middle East/Africa and +29% in Asia/Pacific.
• As of the end of the third quarter, LMAT had 88 sales representatives and 27 hiring opportunities open.
• Manufacturing inefficiencies related to personnel reductions in 2020 contributed to the decline in gross margins.
• In the period, an increase in net sales primarily drove the increase in LMAT’s income from operations.

LeMaitre has also announced a public offering of 1,000,000 shares of common stock priced at $54.50 per share.

• Pre-discount and commission payments by LeMaitre (LMAT) and estimated offering expenses payable by LeMaitre figure to around $54.5 million in gross proceeds from this offering.
• On or about July 16, 2021, an LMAT offering is expected to close, provided conventional closing conditions are met.
• In addition, LeMaitre (LMAT) granted the underwriters of the offering, for a period of 30 days, the right to buy up to an additional 150,000 shares of common stock at the public offering price, less underwriting discounts and commissions.