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

Key Points

• BTIG reaffirmed a Buy rating on Establishment Labs with an $88 price objective, implying about a 36.65% upside
• Establishment Labs' latest quarter beat expectations—EPS of ($0.09) vs. ($0.22) expected and revenue of $64.62M (up 45.2% YoY)—but the company remains unprofitable with a negative net margin and negative return on equity.
• Corporate insiders sold shares recently (director sale of 42,642 shares and 150,000 shares sold in the quarter), while insiders still own about 9.99% of the stock and institutions hold roughly 72.91%.

Establishment Labs (NASDAQ:ESTA - Get Free Report)'s stock had its "buy" rating restated by BTIG Research in a research report issued on Wednesday,Benzinga reports. They currently have a $88.00 price objective on the stock. BTIG Research's price objective would suggest a potential upside of 36.65% from the company's current price.

ESTA has been the topic of a number of other reports. Citigroup dropped their price objective on shares of Establishment Labs from $81.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 11th. Needham & Company LLC upped their price objective on Establishment Labs from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Tuesday, February 24th. Wall Street Zen downgraded Establishment Labs from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Mizuho boosted their target price on Establishment Labs from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Wednesday, February 25th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Establishment Labs in a report on Friday, March 27th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.86.

Establishment Labs Price Performance

Shares of NASDAQ ESTA opened at $64.40 on Wednesday. The stock has a market cap of $1.89 billion, a P/E ratio of -37.01 and a beta of 1.08. Establishment Labs has a twelve month low of $28.89 and a twelve month high of $83.31. The stock has a 50 day moving average of $65.95 and a two-hundred day moving average of $65.71. The company has a current ratio of 3.04, a quick ratio of 2.00 and a debt-to-equity ratio of 10.51.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last announced its earnings results on Tuesday, February 24th. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.13. The business had revenue of $64.62 million for the quarter, compared to analysts' expectations of $63.80 million. Establishment Labs had a negative net margin of 24.19% and a negative return on equity of 201.79%. The company's quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the previous year, the company posted ($1.19) EPS. On average, research analysts forecast that Establishment Labs will post -0.86 earnings per share for the current year.

Insiders Place Their Bets

In other Establishment Labs news, Director Quiros Juan Jose Chacon sold 42,642 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $65.43, for a total value of $2,790,066.06. Following the completion of the transaction, the director owned 1,139,862 shares in the company, valued at approximately $74,581,170.66. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 150,000 shares of company stock worth $9,629,263 over the last quarter. Corporate insiders own 9.99% of the company's stock.

Institutional Trading of Establishment Labs

A number of institutional investors have recently added to or reduced their stakes in ESTA. Quarry LP purchased a new position in Establishment Labs in the third quarter valued at about $34,000. Kestra Advisory Services LLC acquired a new stake in shares of Establishment Labs in the 4th quarter worth approximately $47,000. State of Wyoming acquired a new stake in shares of Establishment Labs in the 3rd quarter worth approximately $71,000. Osaic Holdings Inc. increased its stake in Establishment Labs by 900.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,000 shares of the company's stock valued at $85,000 after purchasing an additional 1,800 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new position in Establishment Labs during the fourth quarter worth $146,000. Hedge funds and other institutional investors own 72.91% of the company's stock.

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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