Simplify Asset Management Inc. Reduces Stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Simplify Asset Management Inc. lowered its position in Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 49.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,907 shares of the company’s stock after selling 12,586 shares during the period. Simplify Asset Management Inc.’s holdings in Establishment Labs were worth $586,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors purchased a new stake in shares of Establishment Labs during the 1st quarter valued at about $45,888,000. William Blair Investment Management LLC boosted its stake in shares of Establishment Labs by 14.5% during the 2nd quarter. William Blair Investment Management LLC now owns 481,572 shares of the company’s stock worth $21,883,000 after acquiring an additional 60,848 shares during the last quarter. Bamco Inc. NY grew its position in shares of Establishment Labs by 28.4% during the 1st quarter. Bamco Inc. NY now owns 429,775 shares of the company’s stock valued at $21,876,000 after acquiring an additional 95,000 shares during the period. Sofinnova Investments Inc. increased its stake in shares of Establishment Labs by 204.1% in the 2nd 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 in the last quarter. Finally, First Turn Management LLC purchased a new stake in Establishment Labs in the second quarter worth about $16,812,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Establishment Labs Trading Up 3.9 %

Shares of ESTA opened at $43.96 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 50 day simple moving average of $43.67 and a two-hundred day simple moving average of $47.63. 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 firm has a market cap of $1.21 billion, a P/E ratio of -14.00 and a beta of 1.20.

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

Analysts Set New Price Targets

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

Insider Activity at Establishment Labs

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 6,839 shares of Establishment Labs stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $45.30, for a total value of $309,806.70. Following the sale, the chief executive officer now owns 218,896 shares of the company’s stock, valued at approximately $9,915,988.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 14,346 shares of company stock valued at $647,806. Insiders own 11.44% of the company’s stock.

Establishment Labs 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.