Establishment Labs (NASDAQ:ESTA) Stock Price Up 5.6% – Here’s What Happened

Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) rose 5.6% during trading on Tuesday . The stock traded as high as $44.25 and last traded at $44.15. Approximately 170,372 shares traded hands during trading, a decline of 55% from the average daily volume of 375,089 shares. The stock had previously closed at $41.80.

Analyst Upgrades and Downgrades

ESTA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price target 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 lifted their price target on shares of Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Stephens reiterated an “overweight” rating and set a $68.00 price objective on shares of Establishment Labs in a report on Wednesday, August 7th. Finally, BTIG Research boosted their target price on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.83.

Establishment Labs Stock Performance

The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -14.23 and a beta of 1.20. 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 firm has a 50-day moving average of $42.95 and a 200-day moving average of $46.44.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm had revenue of $44.12 million during 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 company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.65) earnings per share. As a group, sell-side analysts predict that Establishment Labs Holdings Inc. will post -2.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Hood River Capital Management LLC purchased a new position in shares of Establishment Labs during the 2nd quarter valued at about $43,000. Nkcfo LLC purchased a new position in Establishment Labs during the second quarter valued at approximately $227,000. Concurrent Investment Advisors LLC acquired a new position in Establishment Labs in the first quarter valued at approximately $263,000. SG Americas Securities LLC acquired a new stake in shares of Establishment Labs during the 2nd quarter worth approximately $303,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in shares of Establishment Labs during the 2nd quarter valued at approximately $373,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

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.