Establishment Labs (NASDAQ:ESTA) Trading Up 8.5% After Analyst Upgrade

Establishment Labs Holdings Inc. (NASDAQ:ESTA) rose 8.5% during trading on Wednesday after Citigroup raised their price target on the stock from $45.00 to $50.00. Citigroup currently has a neutral rating on the stock. Establishment Labs traded as high as $44.00 and last traded at $43.99. Approximately 249,898 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 372,981 shares. The stock had previously closed at $40.56.

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

Insider Transactions at Establishment Labs

In related news, CEO Quiros Juan Jose Chacon sold 3,641 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $45.04, for a total value of $163,990.64. Following the sale, the chief executive officer now owns 210,735 shares of the company’s stock, valued at $9,491,504.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.44% of the company’s stock.

Institutional Trading of Establishment Labs

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets raised its holdings in Establishment Labs by 32,968.7% in the first quarter. BNP Paribas Financial Markets now owns 97,222 shares of the company’s stock valued at $4,949,000 after acquiring an additional 96,928 shares in the last quarter. Stableford Capital II LLC acquired a new stake in Establishment Labs during the first quarter worth approximately $1,568,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Establishment Labs during the first quarter worth approximately $4,185,000. Divisadero Street Capital Management LP acquired a new stake in Establishment Labs during the second quarter worth approximately $5,829,000. Finally, Principal Financial Group Inc. acquired a new stake in Establishment Labs during the second quarter worth approximately $593,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

Establishment Labs Trading Up 8.5 %

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 business’s fifty day simple moving average is $42.87 and its two-hundred day simple moving average is $47.21. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -14.01 and a beta of 1.20.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The business had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.10 million. Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. The business’s revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.65) earnings per share. On average, equities analysts predict that Establishment Labs Holdings Inc. will post -2.2 EPS for the current year.

Establishment Labs Company 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.