LeMaitre Vascular Inc. (LMAT) shares fall following downgrade at Zacks Investment Research

Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) shares rose on Wednesday Dec 28 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a downgraded rating.

Meanwhile, U.S. stocks were little changed on Wednesday, as investors found few reasons to keep pushing shares higher towards the 20,000 mark.

The Dow Jones Industrial Average DJIA, -0.11% rose 3.1 points to 19,949, essentially unchanged on the day. The S&P 500 SPX, -0.39% lost 3 points, or 0.1%, to 2,266 while the Nasdaq Composite Index COMP, -0.59% slipped 6.4 points, or 0.1%, to 5,482.

Analysts at Zacks Investment Research downgraded shares of Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) from Hold to Sell in a research note to investors today. Zacks Investment Research currently has a rating of Sell on the stock. A number of other analysts have spoken on the stock in recent days, and the company has earned a consensus one-year price target of $23.83, lower than the opening price of $24.31. LeMaitre Vascular Inc. stock has a 52-week high of $25.19. Downgrades happen when analysts believe that the future prospects for the security have weakened from the original recommendation, often caused by a considerable and crucial digression in the company’s actions, future direction or industry.

Shares of Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) opened at $24.31 on Tuesday and has traded in a range between, $24.25 and $24.41, and last traded at $24.38, a spike of $0.10 or 0.41% over the previous closing price.

Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) now has a market cap of 453.05M.

Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) Average Daily Trading Volume

The stock’s average daily volume is 143,590 shares out of a total float 13,931,000 and some 1,711 shares traded hands yesterday, below the average. Look for trading volume to pick up in the coming days as momentum traders often use upticks in trading volume to determine large volume aggregation or distribution by institutional investors.

However, just a day of significant buy side trading is not enough to assert a trend. So market traders will continue to look for institutional sponsorship as a cue that financial institutions are moving forward.

Institutional sponsorship just refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.

Professional investors such as these retain teams of analysts that investigate thousands of stocks, so it is good validation to see them buying a stock you are researching.

Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By following the activity of these professional investors—and the moving averages they influence—it allows for traders to make more impactful decisions on trades.

With that in mind, Zacks Investment Research (LeMaitre Vascular Inc.: NASDAQ) now has a 50-day MA of $23.55 and 200-day MA of $19.15. It has traded in a 52-week range between $12.03 – 25.19 and today’s last price is 3.22%% lower than the 52 week high of $25.19.

Earnings growth is a critical factor to look at when investing in stocks and investors watch for companies that have been successful at growing their earnings by at least 25% for a 3 year period.

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