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

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares rose 8.5% during mid-day 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.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their target price 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 upped their price objective on Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Stephens reissued an “overweight” rating and issued 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. Based on data from MarketBeat.com, Establishment Labs currently has an average 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 completion of the sale, the chief executive officer now directly owns 210,735 shares in the company, valued at approximately $9,491,504.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.44% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new position in Establishment Labs during the 2nd quarter worth approximately $43,000. Nkcfo LLC bought a new stake in Establishment Labs during the 2nd quarter worth approximately $227,000. Concurrent Investment Advisors LLC purchased a new stake in shares of Establishment Labs in the first quarter worth approximately $263,000. SG Americas Securities LLC purchased a new position in shares of Establishment Labs during the second quarter valued at approximately $303,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Establishment Labs during the second quarter valued at approximately $373,000. Institutional investors own 72.91% of the company’s stock.

Establishment Labs Price Performance

The company has a current ratio of 4.44, a quick ratio of 2.91 and a debt-to-equity ratio of 4.30. The business has a 50-day moving average of $42.81 and a 200 day moving average of $47.19. The firm has a market capitalization of $1.15 billion, a PE ratio of -13.32 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 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 firm had revenue of $44.12 million during the quarter, compared to analysts’ expectations of $43.10 million. During the same quarter in the prior year, the company earned ($0.65) EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, research analysts anticipate that Establishment Labs Holdings Inc. will post -2.2 EPS 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.