Establishment Labs (NASDAQ:ESTA) Shares Gap Down – What’s Next?

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares gapped down before the market opened on Friday . The stock had previously closed at $48.12, but opened at $42.49. Establishment Labs shares last traded at $47.63, with a volume of 131,713 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. decreased their target price on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Citigroup boosted their price objective on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. BTIG Research increased their target price on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Stephens reissued an “overweight” rating and set a $68.00 price target on shares of Establishment Labs in a report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Establishment Labs currently has a consensus rating of “Moderate Buy” and an average price target of $58.83.

Establishment Labs Stock Down 0.4 %

The stock has a 50-day simple moving average of $43.37 and a 200-day simple moving average of $45.92. 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 company has a market cap of $1.34 billion, a price-to-earnings ratio of -15.47 and a beta of 1.20.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.62) 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 the consensus estimate of $43.10 million. Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.65) earnings per share. As a group, analysts predict that Establishment Labs Holdings Inc. will post -2.27 EPS for the current year.

Institutional Trading of Establishment Labs

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Research Global Investors bought a new stake in Establishment Labs in the first quarter worth about $45,888,000. Rice Hall James & Associates LLC raised its holdings in shares of Establishment Labs by 10.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company’s stock worth $34,326,000 after purchasing an additional 76,959 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Establishment Labs by 14.5% during the second quarter. William Blair Investment Management LLC now owns 481,572 shares of the company’s stock valued at $21,883,000 after purchasing an additional 60,848 shares during the last quarter. Bamco Inc. NY boosted its holdings in Establishment Labs by 28.4% during the first quarter. Bamco Inc. NY now owns 429,775 shares of the company’s stock worth $21,876,000 after buying an additional 95,000 shares in the last quarter. Finally, Sofinnova Investments Inc. boosted its holdings in Establishment Labs by 204.1% during the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock worth $19,505,000 after buying an additional 288,082 shares in the last quarter. 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.