Establishment Labs (NASDAQ:ESTA) Price Target Raised to $95.00 at Needham & Company LLC

Key Points

• Needham raised Establishment Labs’ price target from $86 to $95 and maintained a “buy” rating, implying roughly 20% upside from the prior close. The analyst consensus is “Moderate Buy,” with an average target of $96.50.
• ESTA shares fell $12.20 to $79.05 in Thursday trading. The company recently reported revenue of $67.54 million, up 31.7% year over year, but missed earnings estimates with a quarterly loss of $0.39 per share.
• Institutional investors own approximately 72.91% of Establishment Labs, with major investors including Goldman Sachs, Viking Global Investors and Nantahala Capital Management increasing or initiating positions.

Establishment Labs (NASDAQ:ESTA - Get Free Report) had its price target lifted by equities researchers at Needham & Company LLC from $86.00 to $95.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 20.18% from the company's previous close.

Other equities analysts have also issued research reports about the company. Mizuho increased their target price on Establishment Labs from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. TD Cowen boosted their price target on Establishment Labs from $95.00 to $117.00 and gave the company a "buy" rating in a research note on Monday. Citigroup upped their price objective on Establishment Labs from $76.00 to $92.00 and gave the company a "neutral" rating in a report on Wednesday, July 8th. BTIG Research reissued a "buy" rating on shares of Establishment Labs in a report on Monday, July 13th. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of Establishment Labs in a research report on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.50.

Establishment Labs Stock Performance

Shares of ESTA stock traded down $12.20 during midday trading on Thursday, hitting $79.05. 1,034,808 shares of the company were exchanged, compared to its average volume of 551,048. Establishment Labs has a 52 week low of $33.35 and a 52 week high of $97.59. The firm has a market capitalization of $2.33 billion, a P/E ratio of -53.05 and a beta of 1.07. The firm's 50 day moving average price is $86.17 and its two-hundred day moving average price is $74.15. The company has a debt-to-equity ratio of 16.82, a quick ratio of 1.91 and a current ratio of 2.96.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The company had revenue of $67.54 million during the quarter, compared to the consensus estimate of $65.79 million. Establishment Labs had a negative net margin of 19.05% and a negative return on equity of 218.77%. The firm's revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.57) earnings per share. As a group, equities research analysts anticipate that Establishment Labs will post -1.07 earnings per share for the current year.

Institutional Trading of Establishment Labs

Several large investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in shares of Establishment Labs by 117.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 811,536 shares of the company's stock worth $59,145,000 after acquiring an additional 438,206 shares during the period. Viking Global Investors LP bought a new stake in Establishment Labs during the second quarter worth $14,669,000. Soleus Capital Management L.P. acquired a new stake in shares of Establishment Labs in the 2nd quarter valued at $9,050,000. Summit Partners Public Asset Management LLC increased its stake in shares of Establishment Labs by 87.1% in the 3rd quarter. Summit Partners Public Asset Management LLC now owns 430,160 shares of the company's stock valued at $17,632,000 after purchasing an additional 200,255 shares during the last quarter. Finally, Nantahala Capital Management LLC raised its holdings in shares of Establishment Labs by 11.1% during the 3rd quarter. Nantahala Capital Management LLC now owns 1,973,492 shares of the company's stock worth $80,893,000 after buying an additional 197,962 shares in the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

About Establishment Labs

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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