Stonepine Capital Management LLC Makes New $3.25 Million Investment in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Stonepine Capital Management LLC bought a new stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 75,000 shares of the company’s stock, valued at approximately $3,245,000. Establishment Labs comprises about 2.1% of Stonepine Capital Management LLC’s holdings, making the stock its 16th largest position. Stonepine Capital Management LLC owned approximately 0.27% of Establishment Labs at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Establishment Labs by 1.8% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 35,236 shares of the company’s stock valued at $1,525,000 after buying an additional 632 shares during the last quarter. Hood River Capital Management LLC purchased a new position in shares of Establishment Labs in the 2nd quarter valued at $43,000. California State Teachers Retirement System grew its position in shares of Establishment Labs by 14.5% in the 1st quarter. California State Teachers Retirement System now owns 17,096 shares of the company’s stock valued at $870,000 after buying an additional 2,167 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Establishment Labs in the 2nd quarter valued at $227,000. Finally, Kornitzer Capital Management Inc. KS grew its position in shares of Establishment Labs by 2.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 248,435 shares of the company’s stock valued at $10,750,000 after buying an additional 6,050 shares during the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ESTA shares. Citigroup raised their price objective 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. JPMorgan Chase & Co. lowered their price objective on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Stephens reissued an “overweight” rating and set a $68.00 price objective on shares of Establishment Labs in a research report on Wednesday, August 7th. Finally, BTIG Research raised their price objective on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $60.60.

Establishment Labs Stock Performance

Shares of ESTA stock traded up $0.02 during mid-day trading on Wednesday, hitting $45.59. The stock had a trading volume of 24,524 shares, compared to its average volume of 388,868. Establishment Labs Holdings Inc. has a fifty-two week low of $22.05 and a fifty-two week high of $60.12. The firm has a market cap of $1.28 billion, a PE ratio of -17.66 and a beta of 1.20. The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. The company’s 50-day simple moving average is $43.01 and its 200-day simple moving average is $44.98.

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.