LeMaitre Vascular's (LMAT) steady average selling price increases for its products raised questions over its sustainability, Oppenheimer said in a Friday note.
"Continually switching to direct selling platforms helps in
tolerating ASP increases and allows for higher GM on products, though unclear how sustainable the consistent pricing increases are in the longer-term," Oppenheimer analysts said.
In addition to the sustainability issue, they also pointed to the premium valuation of the shares and potential tariff impact.
Oppenheimer downgraded the stock to perform from outperform and removed its $93 price target, saying that it is "moving to the sidelines as PT achieved."
LeMaitre shares were down more than 7% in recent trading.
Price: 92.74, Change: -7.17, Percent Change: -7.17
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