Canaccord Genuity Group Begins Coverage on Establishment Labs (NASDAQ:ESTA)

Key Points

• Canaccord Genuity Group has initiated coverage of Establishment Labs (NASDAQ: ESTA) with a "buy" rating and a price target of $60.00, indicating a potential upside of 59.15%.
• The stock has received multiple ratings, with five analysts recommending a buy and a consensus target price of $56.50, despite a recent downgrade from Wall Street Zen.
• Establishment Labs reported a revenue increase of 16.1% year-over-year but missed earnings expectations, posting an EPS of ($0.57) for the last quarter.

Canaccord Genuity Group started coverage on shares of Establishment Labs (NASDAQ:ESTA - Free Report) in a research report report published on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $60.00 target price on the stock.

Several other research analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $48.00 price target on shares of Establishment Labs in a report on Friday, June 13th. Wall Street Zen cut shares of Establishment Labs from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Citigroup upped their price target on shares of Establishment Labs from $38.00 to $47.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. Mizuho upped their price target on shares of Establishment Labs from $58.00 to $70.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, BTIG Research assumed coverage on shares of Establishment Labs in a report on Friday, May 16th. They issued a "buy" rating and a $62.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $56.50.

Establishment Labs Trading Down 4.5%

NASDAQ:ESTA traded down $1.97 during trading hours on Wednesday, hitting $41.67. The stock had a trading volume of 212,813 shares, compared to its average volume of 528,620. Establishment Labs has a one year low of $26.56 and a one year high of $50.85. The company has a debt-to-equity ratio of 9.71, a quick ratio of 1.67 and a current ratio of 2.84. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -13.57 and a beta of 0.83. The business's 50 day moving average is $40.95 and its 200-day moving average is $37.42.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.03). Establishment Labs had a negative net margin of 49.89% and a negative return on equity of 224.34%. The firm had revenue of $51.30 million during the quarter, compared to the consensus estimate of $50.80 million. During the same period in the previous year, the company posted ($0.62) EPS. The firm's revenue for the quarter was up 16.1% on a year-over-year basis. Establishment Labs has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Establishment Labs will post -2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ESTA. Toronto Dominion Bank acquired a new position in Establishment Labs during the fourth quarter worth $24,879,000. Brown Advisory Inc. raised its position in Establishment Labs by 23.1% during the fourth quarter. Brown Advisory Inc. now owns 2,338,369 shares of the company's stock worth $107,729,000 after acquiring an additional 438,057 shares in the last quarter. Voya Investment Management LLC raised its position in Establishment Labs by 7,249.5% during the fourth quarter. Voya Investment Management LLC now owns 408,262 shares of the company's stock worth $18,809,000 after acquiring an additional 402,707 shares in the last quarter. CenterBook Partners LP bought a new stake in Establishment Labs during the second quarter worth $16,204,000. Finally, Millennium Management LLC raised its position in Establishment Labs by 96.9% during the fourth quarter. Millennium Management LLC now owns 711,691 shares of the company's stock worth $32,788,000 after acquiring an additional 350,213 shares in the last quarter. Institutional investors and hedge funds own 72.91% of the company's stock.

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.