Establishment Labs (NASDAQ:ESTA) Price Target Raised to $50.00 at Citigroup

Establishment Labs (NASDAQ:ESTA) had its target price boosted by equities research analysts at Citigroup from $45.00 to $50.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective points to a potential upside of 30.68% from the company’s previous close.

A number of other research analysts have also recently issued reports on ESTA. JPMorgan Chase & Co. decreased their price target on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Mizuho raised their price target on shares of Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Stephens reaffirmed an “overweight” rating and issued a $68.00 price target on shares of Establishment Labs in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Establishment Labs has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Establishment Labs Stock Down 11.6 %

ESTA traded down $5.01 during trading on Tuesday, hitting $38.26. The stock had a trading volume of 1,150,200 shares, compared to its average volume of 369,230. The company has a market capitalization of $1.05 billion, a PE ratio of -12.08 and a beta of 1.20. Establishment Labs has a twelve month low of $16.96 and a twelve month high of $60.12. The company has a debt-to-equity ratio of 4.30, a quick ratio of 2.91 and a current ratio of 4.44. The stock has a 50 day simple moving average of $43.02 and a two-hundred day simple moving average of $47.27.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly 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). The company had revenue of $44.12 million during the quarter, compared to analysts’ expectations of $43.10 million. Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.65) EPS. On average, research analysts predict that Establishment Labs will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $45.01, for a total transaction of $174,008.66. Following the completion of the transaction, the chief executive officer now owns 215,030 shares of the company’s stock, valued at $9,678,500.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 11.44% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ESTA. Hood River Capital Management LLC purchased a new position in Establishment Labs in the second quarter valued at $43,000. Nkcfo LLC purchased a new position in Establishment Labs in the second quarter valued at $227,000. Concurrent Investment Advisors LLC purchased a new position in Establishment Labs in the first quarter valued at $263,000. SG Americas Securities LLC purchased a new position in Establishment Labs in the second quarter valued at $303,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Establishment Labs in the second quarter valued at $373,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

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.