Balyasny Asset Management L.P. Acquires 78,123 Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Balyasny Asset Management L.P. increased its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 558,289 shares of the company's stock after acquiring an additional 78,123 shares during the period. Balyasny Asset Management L.P. owned about 1.99% of Establishment Labs worth $25,720,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP bought a new position in Establishment Labs in the fourth quarter valued at $27,000. R Squared Ltd bought a new position in Establishment Labs in the fourth quarter valued at $36,000. Federated Hermes Inc. grew its position in Establishment Labs by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 32,720 shares of the company's stock valued at $1,507,000 after purchasing an additional 953 shares in the last quarter. Swiss National Bank grew its position in Establishment Labs by 2.7% in the fourth quarter. Swiss National Bank now owns 38,500 shares of the company's stock valued at $1,774,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its position in Establishment Labs by 32.3% in the fourth quarter. Handelsbanken Fonder AB now owns 8,200 shares of the company's stock valued at $378,000 after purchasing an additional 2,000 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ESTA. Stephens reissued an "overweight" rating and issued a $52.00 price objective on shares of Establishment Labs in a research report on Thursday, March 6th. Needham & Company LLC began coverage on shares of Establishment Labs in a research report on Monday, April 14th. They issued a "hold" rating for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $57.40.

Establishment Labs Price Performance

NASDAQ:ESTA traded up $0.89 on Monday, hitting $34.81. The company had a trading volume of 128,103 shares, compared to its average volume of 465,584. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of -13.41 and a beta of 0.73. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94. The firm has a 50 day moving average of $34.83 and a two-hundred day moving average of $38.48. Establishment Labs Holdings Inc. has a 52 week low of $26.56 and a 52 week high of $60.12.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.83) by $0.13. The business had revenue of $41.38 million during the quarter, compared to the consensus estimate of $41.15 million. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The firm's revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.58) EPS. On average, research analysts anticipate that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current year.

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.