Establishment Labs Holdings Inc. (NASDAQ:ESTA) Short Interest Up 14.5% in October

Establishment Labs Holdings Inc. (NASDAQ:ESTA) was the recipient of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 5,280,000 shares, an increase of 14.5% from the September 30th total of 4,610,000 shares. Currently, 23.2% of the company’s shares are sold short. Based on an average trading volume of 376,600 shares, the days-to-cover ratio is presently 14.0 days.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price objective on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. BTIG Research raised their price target 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 reiterated an “overweight” rating and issued a $68.00 price objective on shares of Establishment Labs in a report on Wednesday, August 7th. Finally, Citigroup raised their target price on Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $58.83.

Establishment Labs Trading Up 1.6 %

Shares of NASDAQ:ESTA traded up $0.70 during mid-day trading on Thursday, reaching $45.67. 42,119 shares of the company were exchanged, compared to its average volume of 373,141. Establishment Labs has a 1 year low of $16.96 and a 1 year high of $60.12. The company has a debt-to-equity ratio of 4.30, a current ratio of 4.44 and a quick ratio of 2.91. The firm’s 50-day simple moving average is $43.21 and its 200 day simple moving average is $46.07. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of -14.46 and a beta of 1.20.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. The firm had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.10 million. During the same period in the previous year, the firm posted ($0.65) earnings per share. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. Equities research analysts forecast that Establishment Labs will post -2.27 EPS for the current year.

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.