Establishment Labs (NASDAQ:ESTA) Stock Price Target Cut by TD Cowen

Key Points

• TD Cowen lowered Establishment Labs’ price target from $117 to $95 while maintaining a “buy” rating, implying approximately 42.6% upside from the stock’s $66.62 price.
• Analyst sentiment remains broadly positive: nine analysts rate the stock a Buy and one rates it a Sell, producing a consensus “Moderate Buy” rating and an average target of $96.11.
• Establishment Labs reported 31.7% year-over-year revenue growth to $67.54 million in its latest quarter, but missed EPS estimates and remains unprofitable; institutional investors own approximately 72.9% of the shares.

Establishment Labs (NASDAQ:ESTA - Get Free Report) had its price objective lowered by research analysts at TD Cowen from $117.00 to $95.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has a "buy" rating on the stock. TD Cowen's price objective suggests a potential upside of 42.59% from the company's current price.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price target on shares of Establishment Labs from $84.00 to $95.00 and gave the company an "overweight" rating in a report on Friday, August 7th. Mizuho lifted their price objective on Establishment Labs from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Needham & Company LLC boosted their price objective on Establishment Labs from $86.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, August 6th. Weiss Ratings restated a "sell (e+)" rating on shares of Establishment Labs in a research note on Monday, September 21st. Finally, Canaccord Genuity Group set a $105.00 target price on Establishment Labs in a research note on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $96.11.

Establishment Labs Stock Up 4.4%

NASDAQ ESTA traded up $2.82 on Monday, hitting $66.62. The stock had a trading volume of 77,630 shares, compared to its average volume of 510,428. Establishment Labs has a 52-week low of $47.00 and a 52-week high of $97.59. The business's fifty day moving average price is $67.87 and its 200 day moving average price is $74.62. The company has a debt-to-equity ratio of 12.11, a current ratio of 3.84 and a quick ratio of 2.52. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of -50.76 and a beta of 1.06.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The company had revenue of $67.54 million for the quarter, compared to analyst estimates of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The business's revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.57) EPS. Equities research analysts anticipate that Establishment Labs will post -1.08 earnings per share for the current year.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in shares of Establishment Labs by 849.5% in the 3rd quarter. Sterling Capital Management LLC now owns 902 shares of the company's stock worth $58,000 after acquiring an additional 807 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Establishment Labs during the 3rd quarter worth $80,000. Engineers Gate Manager LP boosted its position in shares of Establishment Labs by 7.5% during the 2nd quarter. Engineers Gate Manager LP now owns 31,458 shares of the company's stock valued at $2,699,000 after acquiring an additional 2,191 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Establishment Labs during the 2nd quarter valued at about $32,000. Finally, NewEdge Advisors LLC boosted its position in shares of Establishment Labs by 34.9% during the 2nd quarter. NewEdge Advisors LLC now owns 13,871 shares of the company's stock valued at $1,190,000 after acquiring an additional 3,587 shares during the last quarter. Institutional investors and hedge funds own 72.91% of the company's stock.

Establishment Labs Company Profile

Establishment Labs Holdings Inc is a medical technology company focused on women's health and the breast aesthetics market. The company develops, manufactures and commercializes breast implants and related technologies designed for breast augmentation, reconstruction and revision procedures.

Its product portfolio includes the Motiva line of breast implants, which incorporates the company's proprietary implant materials, surface technologies and design features. Establishment Labs also offers Motiva Flora tissue expanders for use in breast reconstruction and has developed Mia Femtech, a minimally invasive breast enhancement procedure intended to provide a less invasive alternative to traditional augmentation techniques.

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

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