Establishment Labs Holdings Inc. (NASDAQ:ESTA) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analyst sentiment is moderately bullish: Eight of nine covering firms rate Establishment Labs a buy, while one recommends selling. The average 12-month price target is $100.25, with several firms recently raising targets, including TD Cowen to $117.
• Quarterly results were mixed: The company reported revenue of $67.54 million, up 31.7% year over year and above expectations, but its $0.39 loss per share was wider than analysts’ projected $0.34 loss.
• Institutional ownership remains high: Hedge funds and other institutional investors own 72.91% of the stock, while Establishment Labs shares recently opened at $69.30, below their 50-day average of $80.08 and 12-month high of $97.59.

Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and eight have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $100.25.

ESTA has been the topic of several research analyst reports. Needham & Company LLC boosted their price target on Establishment Labs from $86.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on Establishment Labs from $84.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Mizuho lifted their target price on Establishment Labs from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Citigroup upgraded 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. Finally, TD Cowen increased their price target on shares of Establishment Labs from $95.00 to $117.00 and gave the stock a "buy" rating in a report on Monday, August 3rd.

Establishment Labs Stock Performance

NASDAQ ESTA opened at $69.30 on Monday. The company has a fifty day simple moving average of $80.08 and a two-hundred day simple moving average of $74.56. The stock has a market cap of $2.07 billion, a P/E ratio of -52.90 and a beta of 1.05. Establishment Labs has a 12-month low of $37.37 and a 12-month high of $97.59. 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 (NASDAQ:ESTA - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The company had revenue of $67.54 million for the quarter, compared to analysts' expectations of $65.79 million. During the same period last year, the firm earned ($0.57) earnings per share. Establishment Labs's quarterly revenue was up 31.7% compared to the same quarter last year. On average, analysts forecast that Establishment Labs will post -1.15 earnings per share for the current year.

Institutional Trading of Establishment Labs

Large investors have recently made changes to their positions in the business. Engineers Gate Manager LP increased its stake in shares of Establishment Labs by 7.5% in the second quarter. Engineers Gate Manager LP now owns 31,458 shares of the company's stock worth $2,699,000 after acquiring an additional 2,191 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Establishment Labs during the second quarter valued at $32,000. NewEdge Advisors LLC boosted its holdings in Establishment Labs by 34.9% in the second quarter. NewEdge Advisors LLC now owns 13,871 shares of the company's stock valued at $1,190,000 after purchasing an additional 3,587 shares during the last quarter. Arizona State Retirement System boosted its holdings in Establishment Labs by 5.6% in the second quarter. Arizona State Retirement System now owns 5,057 shares of the company's stock valued at $434,000 after purchasing an additional 268 shares during the last quarter. Finally, Amundi purchased a new stake in Establishment Labs in the second quarter valued at $291,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

Establishment Labs Company Profile

Establishment Labs Holdings Inc is a medical technology company focused on developing, manufacturing and commercializing products for breast aesthetics and reconstruction. Founded in 2004 and headquartered in Alajuela, Costa Rica, the company serves plastic surgeons, healthcare providers and patients in markets around the world.

Its portfolio is centered on the Motiva line of breast implants, including implants designed for cosmetic augmentation and reconstructive procedures. Establishment Labs also develops related technologies and products, including tissue expanders and surgical systems, as well as Mia Femtech, a minimally invasive breast-enhancement procedure and platform.

The company operates internationally through direct sales and distribution partnerships.

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