Divisadero Street Capital Management LP Buys New Stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Divisadero Street Capital Management LP purchased a new stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 128,284 shares of the company’s stock, valued at approximately $5,829,000. Establishment Labs makes up about 0.9% of Divisadero Street Capital Management LP’s holdings, making the stock its 29th largest position.

A number of other institutional investors also recently bought and sold shares of the business. Concurrent Investment Advisors LLC purchased a new stake in Establishment Labs during the first quarter worth approximately $263,000. SG Americas Securities LLC purchased a new stake in shares of Establishment Labs during the 2nd quarter worth approximately $303,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in shares of Establishment Labs in the 2nd quarter valued at $373,000. Principal Financial Group Inc. purchased a new position in shares of Establishment Labs in the 2nd quarter valued at $593,000. Finally, Bayesian Capital Management LP purchased a new position in shares of Establishment Labs in the 1st quarter valued at $631,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 6,839 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $45.30, for a total transaction of $309,806.70. Following the transaction, the chief executive officer now directly owns 218,896 shares in the company, valued at $9,915,988.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 14,346 shares of company stock worth $647,806 in the last 90 days. 11.44% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ESTA. Stephens restated an “overweight” rating and issued a $68.00 price objective on shares of Establishment Labs in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Citigroup raised their price target on Establishment Labs from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Finally, Mizuho boosted their price objective on Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Establishment Labs Trading Up 3.9 %

NASDAQ ESTA opened at $43.96 on Friday. The company has a quick ratio of 2.91, a current ratio of 4.44 and a debt-to-equity ratio of 4.30. The stock has a market capitalization of $1.21 billion, a P/E ratio of -14.00 and a beta of 1.20. Establishment Labs Holdings Inc. has a 52-week low of $16.96 and a 52-week high of $60.12. The firm has a 50-day moving average price of $43.67 and a 200 day moving average price of $47.63.

Establishment Labs (NASDAQ:ESTA) last issued its earnings results on Tuesday, August 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. The business had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. During the same period last year, the company posted ($0.65) earnings per share. The business’s quarterly revenue was down 9.2% on a year-over-year basis. Equities research analysts expect that Establishment Labs Holdings Inc. will post -2.2 EPS for the current year.

Establishment Labs Profile

Establishment Labs Holdings Inc, a medical technology company, manufactures and markets medical devices for aesthetic and reconstructive plastic surgery. The company primarily offers silicone gel-filled breast implants under the Motiva Implants brand. It also provides Motiva Ergonomix and Motiva Ergonomix2 gravity sensitive round soft silicone-gel-filled breast implants; and Motiva Flora Tissue Expander, a breast tissue expander.