Establishment Labs (NASDAQ:ESTA) Shares Down 5.6% – Here’s What Happened

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s share price was down 5.6% during mid-day trading on Thursday . The company traded as low as $39.00 and last traded at $39.00. Approximately 356,681 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 377,243 shares. The stock had previously closed at $41.32.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ESTA. JPMorgan Chase & Co. decreased their price objective on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Citigroup raised their price target on Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Stephens reiterated an “overweight” rating and issued a $68.00 price objective on shares of Establishment Labs in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.60.

Establishment Labs Stock Up 2.7 %

The firm has a market cap of $1.11 billion, a PE ratio of -12.81 and a beta of 1.20. The company has a quick ratio of 2.91, a current ratio of 4.44 and a debt-to-equity ratio of 4.30. The business has a 50-day moving average price of $42.46 and a two-hundred day moving average price of $46.86.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. Establishment Labs’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.65) EPS. On average, equities research analysts expect that Establishment Labs Holdings Inc. will post -2.27 EPS for the current year.

Institutional Investors Weigh In On Establishment Labs

Large investors have recently modified their holdings of the company. Stableford Capital II LLC purchased a new stake in shares of Establishment Labs during the 1st quarter worth $1,568,000. BNP Paribas Financial Markets boosted its position in shares of Establishment Labs by 32,968.7% during the 1st quarter. BNP Paribas Financial Markets now owns 97,222 shares of the company’s stock worth $4,949,000 after acquiring an additional 96,928 shares in the last quarter. Swiss National Bank increased its holdings in shares of Establishment Labs by 13.6% in the 1st quarter. Swiss National Bank now owns 37,500 shares of the company’s stock valued at $1,909,000 after acquiring an additional 4,500 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Establishment Labs during the 1st quarter worth about $263,000. Finally, William Blair Investment Management LLC acquired a new stake in shares of Establishment Labs during the 1st quarter worth about $21,415,000. 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.