Establishment Labs (NASDAQ:ESTA) Stock Keeps Buy Rating at TD Cowen

Key Points

• TD Cowen reaffirmed its “buy” rating on Establishment Labs and maintained a $117 price target, implying 88.29% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $98.56.
• Establishment Labs shares rose 7.4% to $62.14, but remain well below their 52-week high of $97.59. The company reported quarterly revenue of $67.54 million, up 31.7% year over year, while EPS of negative $0.39 missed estimates.
• Institutional investors and hedge funds own 72.91% of the stock, with several funds recently establishing new positions. Establishment Labs develops medical devices including Motiva breast implants and the Mia Femtech platform.

Establishment Labs (NASDAQ:ESTA - Get Free Report)'s stock had its "buy" rating restated by TD Cowen in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $117.00 target price on the stock. TD Cowen's price target suggests a potential upside of 88.29% from the company's previous close.

Other equities analysts also recently issued reports about the company. Canaccord Genuity Group set a $105.00 target price on Establishment Labs in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on Establishment Labs from $84.00 to $95.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Citigroup raised Establishment Labs from a "neutral" rating to a "buy" rating and set a $92.00 target price on the stock in a research report on Thursday, August 13th. Mizuho upped their target price on Establishment Labs from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Establishment Labs in a research report on Monday, September 21st. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $98.56.

Establishment Labs Stock Up 7.4%

Shares of ESTA stock traded up $4.26 during trading hours on Thursday, reaching $62.14. 65,728 shares of the company's stock were exchanged, compared to its average volume of 512,838. The stock's 50 day moving average is $70.01 and its 200-day moving average is $74.43. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -47.35 and a beta of 1.06. The company has a current ratio of 3.84, a quick ratio of 2.52 and a debt-to-equity ratio of 12.11. Establishment Labs has a fifty-two week low of $44.26 and a fifty-two week high of $97.59.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued 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 business had revenue of $67.54 million for the quarter, compared to analyst estimates of $65.79 million. During the same period in the previous year, the company posted ($0.57) earnings per share. The business's revenue for the quarter was up 31.7% on a year-over-year basis. Analysts predict that Establishment Labs will post -1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Establishment Labs

Hedge funds have recently made changes to their positions in the company. Integrated Wealth Concepts LLC acquired a new position in shares of Establishment Labs in the 2nd quarter valued at $32,000. KBC Group NV acquired a new stake in Establishment Labs during the 1st quarter worth about $28,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Establishment Labs during the 2nd quarter worth about $43,000. State of Wyoming acquired a new stake in Establishment Labs during the 2nd quarter worth about $87,000. Finally, MV Capital Management Inc. acquired a new stake in Establishment Labs during the 4th quarter worth about $146,000. 72.91% of the stock is owned by institutional investors and hedge funds.

Establishment Labs Company Profile

Establishment Labs Holdings Inc NASDAQ: ESTA is a medical technology company focused on women's health and breast aesthetics. The company develops, manufactures and markets medical devices intended for breast augmentation, reconstruction and related procedures.

Its principal product portfolio includes Motiva breast implants, a line of silicone-gel implants designed for aesthetic and reconstructive applications, as well as tissue expanders and other products used in breast surgery. Establishment Labs also offers Mia Femtech, a technology and procedure platform designed to support a less invasive approach to breast augmentation.

Founded in 2004, Establishment Labs is headquartered in Costa Rica and serves healthcare providers and patients in international markets.