Establishment Labs (NASDAQ:ESTA) Price Target Raised to $65.00 at BTIG Research

Establishment Labs (NASDAQ:ESTA) had its price objective hoisted by stock analysts at BTIG Research from $62.00 to $65.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 55.58% from the stock’s previous close.

Several other equities analysts also recently issued reports on ESTA. Stephens reissued an “overweight” rating and set a $68.00 price target on shares of Establishment Labs in a report on Wednesday, August 7th. 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. Finally, Citigroup upped their target price on shares of Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $58.83.

Establishment Labs Stock Performance

ESTA traded up $1.95 on Monday, hitting $41.78. 128,345 shares of the company’s stock were exchanged, compared to its average volume of 377,938. 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 stock has a fifty day moving average of $42.46 and a two-hundred day moving average of $46.82. Establishment Labs has a twelve month low of $16.96 and a twelve month high of $60.12. The firm has a market cap of $1.15 billion, a PE ratio of -13.27 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 for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. The company had revenue of $44.12 million for the quarter, compared to analyst estimates of $43.10 million. During the same quarter in the previous year, the company posted ($0.65) earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. On average, research analysts anticipate that Establishment Labs will post -2.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Research Global Investors bought a new position in shares of Establishment Labs in the first quarter valued at approximately $45,888,000. William Blair Investment Management LLC increased its position 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 valued at $21,883,000 after purchasing an additional 60,848 shares during the period. 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 worth $21,876,000 after buying an additional 95,000 shares in the last quarter. Sofinnova Investments Inc. lifted its holdings in shares of Establishment Labs by 204.1% in the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock valued at $19,505,000 after buying an additional 288,082 shares during the period. Finally, First Turn Management LLC acquired a new stake in shares of Establishment Labs in the second quarter valued at $16,812,000. Institutional investors own 72.91% of the company’s stock.

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.