The Benchmark Company Sees Xenotis Acquisition As Good For LeMaitre Vascular

In a report published Tuesday, The Benchmark Company analyst Jan Wald reiterated a Buy rating and $11.00 price target on LeMaitre Vascular (NASDAQ: LMAT).

In the report, The Benchmark Company noted, “LeMaitre Vascular, a Buy rated stock with an $11 price target announced the acquisition today, August 18, 2014, of Xenotis, the manufacturer and marketer of the Omniflow II biological graft for peripheral bypass and dialysis access for $7.7 million, consisting of $5.1 million at the closing, $1.4 million due August 13, 2015 and assumed bank debt of $1.2 million. In its fiscal year ended June 30, 2014, Xenotis broke even on sales of $2.3 million, or approximately $3.4 million if sold through LeMaitre's sales channel, which includes direct and distributor sales. We believe this acquisition complements one of LeMaitre's best selling product lines, its XenoSure patch.”

LeMaitre Vascular closed on Monday at $7.55.