Citigroup Boosts Establishment Labs (NASDAQ:ESTA) Price Target to $50.00

Establishment Labs (NASDAQ:ESTA) had its price target lifted by research analysts at Citigroup from $45.00 to $50.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 11.96% from the company’s previous close.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. lowered their price target on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Stephens reaffirmed an “overweight” rating and issued a $68.00 price target on shares of Establishment Labs in a report on Wednesday, August 7th. Finally, Mizuho raised their price target on Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.60.

Establishment Labs Stock Performance

Shares of ESTA opened at $44.66 on Tuesday. The stock’s 50-day simple moving average is $42.87 and its 200 day simple moving average is $47.21. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -14.22 and a beta of 1.20. The company has a debt-to-equity ratio of 4.30, a quick ratio of 2.91 and a current ratio of 4.44. Establishment Labs has a 52-week low of $16.96 and a 52-week high of $60.12.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period last year, the company posted ($0.65) EPS. Research analysts forecast that Establishment Labs will post -2.2 EPS for the current fiscal year.

Insider Activity

In other news, CEO Quiros Juan Jose Chacon sold 3,641 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $45.04, for a total transaction of $163,990.64. Following the transaction, the chief executive officer now directly owns 210,735 shares in the company, valued at approximately $9,491,504.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 11.44% of the company’s stock.

Hedge Funds Weigh In On Establishment Labs

Several institutional investors have recently modified their holdings of the company. Hood River Capital Management LLC bought a new position in shares of Establishment Labs during the 2nd quarter valued at about $43,000. California State Teachers Retirement System grew its position in Establishment Labs by 14.5% during the 1st quarter. California State Teachers Retirement System now owns 17,096 shares of the company’s stock worth $870,000 after acquiring an additional 2,167 shares during the last quarter. Swiss National Bank grew its position in Establishment Labs by 13.6% during the 1st quarter. Swiss National Bank now owns 37,500 shares of the company’s stock worth $1,909,000 after acquiring an additional 4,500 shares during the last quarter. Nkcfo LLC bought a new position in Establishment Labs during the 2nd quarter worth approximately $227,000. Finally, Concurrent Investment Advisors LLC bought a new position in Establishment Labs during the 1st quarter worth approximately $263,000. 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.