Establishment Labs (NASDAQ:ESTA) Shares Down 3.9% – Here’s Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s stock price was down 3.9% on Thursday . The stock traded as low as $34.52 and last traded at $34.83. Approximately 89,377 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 855,608 shares. The stock had previously closed at $36.23.

Analyst Ratings Changes

A number of research firms have recently commented on ESTA. BTIG Research increased their target price on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Stephens upgraded shares of Establishment Labs to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Citigroup upped their price objective on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $60.60.

Establishment Labs Stock Performance

The company has a market capitalization of $953.29 million, a price-to-earnings ratio of -13.20 and a beta of 1.15. The company has a 50 day moving average price of $42.55 and a 200 day moving average price of $43.25. The company has a debt-to-equity ratio of 5.94, a quick ratio of 2.29 and a current ratio of 3.62.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.59) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.02. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The firm had revenue of $40.23 million during the quarter, compared to analysts’ expectations of $40.60 million. During the same period last year, the company earned ($1.12) earnings per share. Equities research analysts predict that Establishment Labs Holdings Inc. will post -2.42 earnings per share for the current fiscal year.

Institutional Trading of Establishment Labs

Several institutional investors and hedge funds have recently made changes to their positions in the company. R Squared Ltd bought a new position in Establishment Labs in the 4th quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Establishment Labs in the third quarter valued at about $127,000. Black Swift Group LLC bought a new position in shares of Establishment Labs during the 3rd quarter valued at approximately $312,000. Verition Fund Management LLC increased its stake in shares of Establishment Labs by 22.8% during the 3rd quarter. Verition Fund Management LLC now owns 9,400 shares of the company’s stock worth $407,000 after purchasing an additional 1,746 shares during the last quarter. Finally, SkyView Investment Advisors LLC bought a new stake in shares of Establishment Labs in the 2nd quarter worth approximately $418,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

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.