Lighthouse Investment Partners LLC Grows Position in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Lighthouse Investment Partners LLC boosted its position in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 191.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,702 shares of the company’s stock after purchasing an additional 28,038 shares during the period. Lighthouse Investment Partners LLC’s holdings in Establishment Labs were worth $1,940,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ESTA. Hood River Capital Management LLC bought a new position in shares of Establishment Labs during the second quarter valued at approximately $43,000. Nkcfo LLC bought a new position in Establishment Labs in the 2nd quarter valued at $227,000. Concurrent Investment Advisors LLC purchased a new stake in Establishment Labs in the first quarter worth $263,000. SG Americas Securities LLC purchased a new stake in Establishment Labs in the second quarter worth $303,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Establishment Labs during the second quarter worth $373,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Quiros Juan Jose Chacon sold 6,839 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $45.30, for a total transaction of $309,806.70. Following the completion of the sale, the chief executive officer now directly owns 218,896 shares in the company, valued at approximately $9,915,988.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 14,346 shares of company stock worth $647,806. 11.44% of the stock is currently owned by company insiders.

Establishment Labs Stock Up 14.2 %

Shares of Establishment Labs stock opened at $47.04 on Friday. Establishment Labs Holdings Inc. has a 1 year low of $16.96 and a 1 year high of $60.12. The company has a debt-to-equity ratio of 4.30, a current ratio of 4.44 and a quick ratio of 2.91. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -14.98 and a beta of 1.20. The firm’s 50-day moving average is $43.10 and its two-hundred day moving average is $47.35.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings data 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). The business had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.10 million. Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. Establishment Labs’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.65) earnings per share. As a group, research analysts expect that Establishment Labs Holdings Inc. will post -2.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ESTA has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stephens restated an “overweight” rating and issued a $68.00 target price on shares of Establishment Labs in a research note on Wednesday, August 7th. Citigroup lifted their price target on shares of Establishment Labs from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, Mizuho increased their price objective on Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

About Establishment Labs

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.