Establishment Labs (NASDAQ:ESTA) Shares Gap Down – What’s Next?

Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) gapped down prior to trading on Friday . The stock had previously closed at $48.12, but opened at $42.49. Establishment Labs shares last traded at $47.63, with a volume of 131,713 shares trading hands.

Analysts Set New Price Targets

Several research firms recently weighed in on ESTA. BTIG Research lifted their target price on shares of Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, October 14th. Citigroup upped their target price on Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. dropped their target price on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Stephens restated an “overweight” rating and issued a $68.00 price target on shares of Establishment Labs in a report on Wednesday, August 7th. One research 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 an average rating of “Moderate Buy” and a consensus target price of $60.60.

Establishment Labs Stock Performance

The firm has a market cap of $1.29 billion, a price-to-earnings ratio of -14.87 and a beta of 1.20. 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 company has a 50 day moving average of $43.38 and a 200 day moving average of $45.88.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors bought a new stake in shares of Establishment Labs in the first quarter worth $45,888,000. Rice Hall James & Associates LLC increased its position in shares of Establishment Labs by 10.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company’s stock worth $34,326,000 after purchasing an additional 76,959 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Establishment Labs by 14.5% in the 2nd quarter. William Blair Investment Management LLC now owns 481,572 shares of the company’s stock worth $21,883,000 after purchasing an additional 60,848 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Establishment Labs by 28.4% in the 1st quarter. Bamco Inc. NY now owns 429,775 shares of the company’s stock valued at $21,876,000 after purchasing an additional 95,000 shares in the last quarter. Finally, Sofinnova Investments Inc. lifted its position in shares of Establishment Labs by 204.1% during the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock worth $19,505,000 after purchasing an additional 288,082 shares during the last quarter. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

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.