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

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s share price rose 8.5% 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 traded hands during trading, a decline of 33% from the average daily volume of 372,981 shares. The stock had previously closed at $40.56.

A number of other brokerages have also recently issued reports on ESTA. JPMorgan Chase & Co. reduced their price objective on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Mizuho raised their target price on shares of Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $68.00 target price on shares of Establishment Labs in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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 dated Thursday, July 11th. The shares were sold at an average price of $45.04, for a total value of $163,990.64. Following the transaction, the chief executive officer now owns 210,735 shares of the company’s stock, valued at approximately $9,491,504.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.44% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ESTA. Mudita Advisors LLP grew its position in shares of Establishment Labs by 49.7% in the 4th quarter. Mudita Advisors LLP now owns 142,400 shares of the company’s stock worth $3,687,000 after buying an additional 47,284 shares during the last quarter. Stableford Capital II LLC acquired a new stake in Establishment Labs in the 1st quarter worth approximately $1,568,000. BNP Paribas Financial Markets boosted its stake in Establishment Labs by 32,968.7% in the 1st quarter. BNP Paribas Financial Markets now owns 97,222 shares of the company’s stock worth $4,949,000 after purchasing an additional 96,928 shares in the last quarter. Swiss National Bank boosted its stake in Establishment Labs by 13.6% in the 1st quarter. Swiss National Bank now owns 37,500 shares of the company’s stock worth $1,909,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new stake in Establishment Labs in the 1st quarter worth approximately $263,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Establishment Labs Stock Performance

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 firm’s 50 day simple moving average is $42.87 and its 200 day simple moving average is $47.21. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -14.01 and a beta of 1.20.

Establishment Labs (NASDAQ:ESTA) last posted its earnings results on Tuesday, August 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm 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 for the quarter was down 9.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.65) earnings per share. Sell-side analysts forecast that Establishment Labs Holdings Inc. will post -2.2 earnings per share for the current fiscal 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.