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

Establishment Labs (NASDAQ:ESTA) had its target price raised by research analysts at Citigroup from $45.00 to $50.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 30.68% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Mizuho upped their target price on shares of Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. 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, Stephens restated an “overweight” rating and set a $68.00 target price on shares of Establishment Labs in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Establishment Labs has a consensus rating of “Moderate Buy” and an average target price of $57.60.

Establishment Labs Price Performance

Shares of ESTA traded down $5.01 during midday trading on Tuesday, hitting $38.26. 1,150,200 shares of the company traded hands, compared to its average volume of 369,230. The firm has a 50 day moving average of $43.02 and a 200-day moving average of $47.27. Establishment Labs has a 52 week low of $16.96 and a 52 week high of $60.12. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -12.08 and a beta of 1.20. The company has a debt-to-equity ratio of 4.30, a quick ratio of 2.91 and a current ratio of 4.44.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $43.10 million. During the same period last year, the company earned ($0.65) EPS. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. On average, analysts forecast that Establishment Labs will post -2.2 EPS for the current fiscal year.

Insider Activity

In related news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $45.01, for a total value of $174,008.66. Following the sale, the chief executive officer now directly owns 215,030 shares of the company’s stock, valued at approximately $9,678,500.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.44% of the company’s stock.

Hedge Funds Weigh In On Establishment Labs

A number of institutional investors have recently modified their holdings of ESTA. Capital Research Global Investors purchased a new position in shares of Establishment Labs during the first quarter worth approximately $45,888,000. William Blair Investment Management LLC bought a new position in shares of Establishment Labs during the first quarter valued at approximately $21,415,000. First Turn Management LLC bought a new position in shares of Establishment Labs during the second quarter valued at approximately $16,812,000. Sofinnova Investments Inc. boosted its stake 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 valued at $19,505,000 after purchasing an additional 288,082 shares in the last quarter. Finally, Divisadero Street Capital Management LP bought a new position in shares of Establishment Labs during the second quarter valued at approximately $5,829,000. 72.91% of the stock is 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.