Establishment Labs (NASDAQ:ESTA) Upgraded at Needham & Company LLC

Establishment Labs (NASDAQ:ESTA - Get Free Report) was upgraded by research analysts at Needham & Company LLC from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $48.00 price objective on the stock. Needham & Company LLC's target price would suggest a potential upside of 31.80% from the stock's previous close.

Separately, Stephens reaffirmed an "overweight" rating and set a $52.00 target price on shares of Establishment Labs in a report on Thursday, March 6th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Establishment Labs currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.33.

Establishment Labs Stock Performance

Shares of NASDAQ:ESTA traded up $0.26 on Wednesday, hitting $36.42. The company's stock had a trading volume of 127,677 shares, compared to its average volume of 469,727. Establishment Labs has a 12 month low of $26.56 and a 12 month high of $58.00. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of -14.12 and a beta of 0.73. The stock's 50-day moving average is $34.41 and its two-hundred day moving average is $38.18. The company has a debt-to-equity ratio of 5.94, a quick ratio of 2.29 and a current ratio of 3.62.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.13. Establishment Labs had a negative return on equity of 184.55% and a negative net margin of 46.13%. The business had revenue of $41.38 million during the quarter, compared to analysts' expectations of $41.15 million. During the same quarter last year, the business posted ($0.58) earnings per share. The company's quarterly revenue was up 11.3% on a year-over-year basis. On average, equities research analysts forecast that Establishment Labs will post -2.41 EPS for the current year.

Institutional Investors Weigh In On Establishment Labs

Several hedge funds have recently bought and sold shares of ESTA. Toronto Dominion Bank purchased a new stake in shares of Establishment Labs during the 4th quarter worth about $24,879,000. Brown Advisory Inc. raised its stake in shares of Establishment Labs by 23.1% during the 4th quarter. Brown Advisory Inc. now owns 2,338,369 shares of the company's stock worth $107,729,000 after purchasing an additional 438,057 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Establishment Labs by 29.3% during the 4th quarter. Capital Research Global Investors now owns 1,911,525 shares of the company's stock worth $88,064,000 after purchasing an additional 433,484 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Establishment Labs by 7,249.5% during the 4th quarter. Voya Investment Management LLC now owns 408,262 shares of the company's stock worth $18,809,000 after purchasing an additional 402,707 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of Establishment Labs by 96.9% during the 4th quarter. Millennium Management LLC now owns 711,691 shares of the company's stock worth $32,788,000 after purchasing an additional 350,213 shares in the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

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.