BTIG Research Reaffirms "Buy" Rating for Establishment Labs (NASDAQ:ESTA)

Key Points

• BTIG Research reaffirmed its “Buy” rating on Establishment Labs and maintained a $103 price target, implying roughly 48.6% upside from the stock’s $69.33 opening price.
• Analyst sentiment is broadly positive: eight analysts rate the stock a Buy and one rates it a Sell, producing a “Moderate Buy” consensus and an average price target of $100.25.
• In its latest quarter, Establishment Labs reported revenue of $67.54 million, up 31.7% year over year and above estimates, but its adjusted loss of $0.39 per share missed consensus by $0.05.

Establishment Labs (NASDAQ:ESTA - Get Free Report)'s stock had its "buy" rating restated by analysts at BTIG Research in a research note issued on Tuesday, Benzinga reports. They presently have a $103.00 price target on the stock. BTIG Research's target price points to a potential upside of 48.56% from the company's current price.

Other research analysts have also issued research reports about the stock. Mizuho increased their price target on shares of Establishment Labs from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Weiss Ratings restated a "sell (e+)" rating on shares of Establishment Labs in a report on Wednesday, June 24th. JPMorgan Chase & Co. upped their price target on Establishment Labs from $84.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Citigroup raised shares of Establishment Labs from a "neutral" rating to a "buy" rating and set a $92.00 price target for the company in a report on Thursday, August 13th. Finally, Needham & Company LLC increased their price objective on Establishment Labs from $86.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Establishment Labs has an average rating of "Moderate Buy" and a consensus target price of $100.25.

Establishment Labs Stock Performance

Shares of ESTA stock opened at $69.33 on Tuesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -52.92 and a beta of 1.07. Establishment Labs has a 1-year low of $36.53 and a 1-year high of $97.59. The company has a current ratio of 3.84, a quick ratio of 2.52 and a debt-to-equity ratio of 12.11. The stock's fifty day simple moving average is $84.67 and its 200-day simple moving average is $74.92.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). Establishment Labs had a negative return on equity of 196.69% and a negative net margin of 15.82%.The company had revenue of $67.54 million during the quarter, compared to analysts' expectations of $65.79 million. During the same period last year, the company earned ($0.57) earnings per share. Establishment Labs's revenue for the quarter was up 31.7% compared to the same quarter last year. On average, sell-side analysts predict that Establishment Labs will post -1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Establishment Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Amundi acquired a new position in shares of Establishment Labs in the second quarter valued at approximately $291,000. HighTower Advisors LLC raised its position in Establishment Labs by 3.2% during the 2nd quarter. HighTower Advisors LLC now owns 9,517 shares of the company's stock worth $817,000 after purchasing an additional 293 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Establishment Labs by 8,625.7% in the second quarter. California State Teachers Retirement System now owns 1,930,124 shares of the company's stock worth $165,624,000 after acquiring an additional 1,908,004 shares during the period. Kerrisdale Advisers LLC bought a new position in Establishment Labs during the 2nd quarter worth approximately $1,750,000. Finally, Headlands Technologies LLC bought a new stake in shares of Establishment Labs in the 2nd quarter valued at $1,174,000. 72.91% of the stock is owned by institutional investors.

Establishment Labs Company Profile

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company's proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company's flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.

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