Citigroup Issues Positive Forecast for Establishment Labs (NASDAQ:ESTA) Stock Price

Establishment Labs (NASDAQ:ESTA - Free Report) had its target price lifted by Citigroup from $38.00 to $47.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research analysts have also recently weighed in on the stock. BTIG Research started coverage on shares of Establishment Labs in a report on Friday, May 16th. They issued a "buy" rating and a $62.00 price objective for the company. Wall Street Zen raised shares of Establishment Labs from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $48.00 price objective on shares of Establishment Labs in a report on Friday, June 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $51.80.

Establishment Labs Stock Up 2.0%

NASDAQ:ESTA traded up $0.91 during midday trading on Wednesday, reaching $45.97. 384,078 shares of the stock traded hands, compared to its average volume of 479,296. Establishment Labs has a 12-month low of $26.56 and a 12-month high of $52.41. The business has a 50-day moving average of $37.98 and a two-hundred day moving average of $36.97. The company has a debt-to-equity ratio of 5.72, a quick ratio of 2.05 and a current ratio of 3.36. The stock has a market capitalization of $1.33 billion, a PE ratio of -14.83 and a beta of 0.80.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.13. The business had revenue of $41.38 million for the quarter, compared to analyst estimates of $41.15 million. Establishment Labs had a negative net margin of 52.34% and a negative return on equity of 196.25%. Establishment Labs's revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.58) EPS. On average, equities analysts forecast that Establishment Labs will post -2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Establishment Labs

Several large investors have recently made changes to their positions in the company. Quarry LP acquired a new position in Establishment Labs in the fourth quarter valued at about $27,000. ANTIPODES PARTNERS Ltd bought a new position in shares of Establishment Labs during the first quarter worth about $81,000. KLP Kapitalforvaltning AS bought a new position in shares of Establishment Labs during the fourth quarter worth about $161,000. Elevation Point Wealth Partners LLC bought a new position in shares of Establishment Labs during the first quarter worth about $207,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Establishment Labs in the first quarter valued at approximately $234,000. Institutional investors and hedge funds own 72.91% of the company's stock.

Establishment Labs Company Profile

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.