Establishment Labs (NASDAQ:ESTA) Shares Up 9.4% - Here's What Happened

Key Points

• Establishment Labs' stock rose 9.4% on Wednesday, reaching a high of $36.99 before closing at $36.80, despite a 26% drop in trading volume compared to the average.
• Analysts have given the stock a consensus rating of "Moderate Buy," with price targets ranging from $47.00 to $70.00, showing a generally positive outlook among investment firms.
• Establishment Labs reported quarterly revenues of $51.30 million, a 16.1% increase year-over-year, although it missed EPS expectations, reporting ($0.57) versus the consensus of ($0.54).

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report)'s share price traded up 9.4% during trading on Wednesday . The stock traded as high as $36.99 and last traded at $36.80. 395,225 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 535,329 shares. The stock had previously closed at $33.62.

Analyst Ratings Changes

Several equities analysts have commented on the company. BTIG Research assumed coverage on Establishment Labs in a research report on Friday, May 16th. They issued a "buy" rating and a $62.00 target price for the company. Mizuho increased their target price on Establishment Labs from $58.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Needham & Company LLC reiterated a "buy" rating and issued a $48.00 target price on shares of Establishment Labs in a research report on Friday, June 13th. Citigroup increased their price target on Establishment Labs from $38.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen cut Establishment Labs from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Establishment Labs currently has a consensus rating of "Moderate Buy" and an average target price of $55.80.

Establishment Labs Stock Down 1.7%

The firm has a 50 day moving average of $40.78 and a 200 day moving average of $37.11. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of -12.45 and a beta of 0.83. The company has a quick ratio of 1.67, a current ratio of 2.84 and a debt-to-equity ratio of 9.71.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last released 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). The business had revenue of $51.30 million for the quarter, compared to analyst estimates of $50.80 million. Establishment Labs had a negative return on equity of 224.34% and a negative net margin of 49.89%. The company's revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned ($0.62) EPS. As a group, sell-side analysts predict that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTA. Toronto Dominion Bank bought a new position in Establishment Labs in the fourth quarter worth approximately $24,879,000. Brown Advisory Inc. boosted its holdings in Establishment Labs by 23.1% in 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. Capital Research Global Investors boosted its holdings in Establishment Labs by 29.3% in the fourth quarter. Capital Research Global Investors now owns 1,911,525 shares of the company's stock worth $88,064,000 after acquiring an additional 433,484 shares in the last quarter. Voya Investment Management LLC boosted its holdings in Establishment Labs by 7,249.5% in 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. Finally, CenterBook Partners LP bought a new position in Establishment Labs in the second quarter worth approximately $16,204,000. Institutional investors 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.