Establishment Labs (NASDAQ:ESTA) Shares Gap Up to $50.80

Establishment Labs Holdings Inc. (NASDAQ:ESTAGet Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $50.80, but opened at $57.50. Establishment Labs shares last traded at $55.90, with a volume of 185,129 shares changing hands.

Analysts Set New Price Targets

A number of research firms recently issued reports on ESTA. Citigroup downgraded shares of Establishment Labs from a “buy” rating to a “neutral” rating and set a $60.00 target price for the company. in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. boosted their target price on shares of Establishment Labs from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Mizuho upped their price objective on shares of Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $56.00.

Get Our Latest Analysis on ESTA

Establishment Labs Stock Performance

The business’s 50-day simple moving average is $52.55 and its two-hundred day simple moving average is $41.06. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -16.48 and a beta of 1.22. The company has a quick ratio of 2.73, a current ratio of 4.24 and a debt-to-equity ratio of 3.38.

Establishment Labs (NASDAQ:ESTAGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.58) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.07. The business had revenue of $37.17 million during the quarter, compared to analysts’ expectations of $35.61 million. Establishment Labs had a negative net margin of 53.12% and a negative return on equity of 206.05%. The company’s quarterly revenue was down 20.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.48) earnings per share. As a group, sell-side analysts expect that Establishment Labs Holdings Inc. will post -1.73 earnings per share for the current fiscal year.

Institutional Trading of Establishment Labs

Institutional investors and hedge funds have recently modified their holdings of the stock. Kornitzer Capital Management Inc. KS increased its stake in shares of Establishment Labs by 26.3% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 389,160 shares of the company’s stock worth $10,075,000 after purchasing an additional 81,155 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its stake in Establishment Labs by 17.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 80,000 shares of the company’s stock valued at $3,926,000 after acquiring an additional 11,736 shares in the last quarter. Brown Advisory Inc. grew its stake in Establishment Labs by 63.9% during the 4th quarter. Brown Advisory Inc. now owns 2,428,792 shares of the company’s stock valued at $62,881,000 after acquiring an additional 946,612 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Establishment Labs by 357.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 30,247 shares of the company’s stock valued at $783,000 after acquiring an additional 23,639 shares in the last quarter. Finally, Legato Capital Management LLC grew its stake in Establishment Labs by 63.1% during the 4th quarter. Legato Capital Management LLC now owns 8,438 shares of the company’s stock valued at $218,000 after acquiring an additional 3,263 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

About Establishment Labs

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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.

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