Establishment Labs (NASDAQ:ESTA) Stock Price Down 7.4% – Here’s What Happened

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s stock price dropped 7.4% during mid-day trading on Thursday . The stock traded as low as $35.51 and last traded at $35.23. Approximately 176,473 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 416,768 shares. The stock had previously closed at $38.05.

Wall Street Analysts Forecast Growth

Separately, Stephens restated an “overweight” rating and set a $52.00 price target on shares of Establishment Labs in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Establishment Labs currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.40.

Establishment Labs Stock Down 8.5 %

The firm has a market capitalization of $1.00 billion, a P/E ratio of -13.50 and a beta of 0.95. The company has a fifty day simple moving average of $36.83 and a 200 day simple moving average of $41.20. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94.

Establishment Labs (NASDAQ:ESTA) last posted its earnings results on Wednesday, February 26th. The company reported ($0.98) EPS for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.34). The business had revenue of $44.51 million during the quarter, compared to the consensus estimate of $44.45 million. Establishment Labs had a negative return on equity of 184.55% and a negative net margin of 46.13%. On average, equities analysts expect that Establishment Labs Holdings Inc. will post -2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Establishment Labs

A number of large investors have recently made changes to their positions in ESTA. Quarry LP bought a new stake in shares of Establishment Labs during the 4th quarter valued at $27,000. R Squared Ltd purchased a new stake in shares of Establishment Labs in the fourth quarter worth $36,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Establishment Labs during the third quarter valued at about $127,000. KLP Kapitalforvaltning AS purchased a new position in Establishment Labs in the 4th quarter worth approximately $161,000. Finally, Hood River Capital Management LLC grew its holdings in Establishment Labs by 236.4% during the 4th quarter. Hood River Capital Management LLC now owns 5,920 shares of the company’s stock valued at $273,000 after buying an additional 4,160 shares in the last quarter. 72.91% of the stock is currently owned by 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.