Establishment Labs (NASDAQ:ESTA) Trading Down 3.7% – Here’s What Happened

Establishment Labs Holdings Inc. (NASDAQ:ESTA) dropped 3.7% on Thursday . The stock traded as low as $40.79 and last traded at $40.88. Approximately 100,327 shares changed hands during trading, a decline of 74% from the average daily volume of 385,940 shares. The stock had previously closed at $42.46.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ESTA. BTIG Research lifted their price objective on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup lifted their price objective on shares of Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Stephens upgraded Establishment Labs to a “strong-buy” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $60.60.

Establishment Labs Stock Performance

The firm has a market capitalization of $1.10 billion, a PE ratio of -15.22 and a beta of 1.16. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94. The company has a 50-day moving average of $43.68 and a 200 day moving average of $43.94.

Institutional Investors Weigh In On Establishment Labs

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Hood River Capital Management LLC purchased a new position in shares of Establishment Labs in the 2nd quarter worth about $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Establishment Labs during the third quarter worth approximately $127,000. Nkcfo LLC bought a new stake in shares of Establishment Labs in the 2nd quarter worth approximately $227,000. SG Americas Securities LLC purchased a new stake in shares of Establishment Labs in the 2nd quarter valued at $303,000. Finally, Black Swift Group LLC purchased a new position in Establishment Labs in the 3rd quarter worth $312,000. 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.