Establishment Labs (NASDAQ:ESTA) Shares Down 3.8% - Here's Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report)'s share price was down 3.8% during mid-day trading on Thursday . The company traded as low as $43.07 and last traded at $42.67. Approximately 251,430 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 473,484 shares. The stock had previously closed at $44.36.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BTIG Research initiated coverage on Establishment Labs in a research note on Friday, May 16th. They set a "buy" rating and a $62.00 price target on the stock. Stephens reiterated an "overweight" rating and set a $52.00 target price on shares of Establishment Labs in a research report on Thursday, March 6th. Needham & Company LLC reissued a "buy" rating and issued a $48.00 target price on shares of Establishment Labs in a report on Friday, June 13th. Finally, Wall Street Zen raised Establishment Labs from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Establishment Labs has a consensus rating of "Moderate Buy" and a consensus target price of $52.40.

Establishment Labs Price Performance

The company has a debt-to-equity ratio of 5.72, a quick ratio of 2.05 and a current ratio of 3.36. The company has a 50-day moving average of $36.78 and a 200-day moving average of $36.85. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -14.16 and a beta of 0.80.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.83) by $0.13. Establishment Labs had a negative return on equity of 196.25% and a negative net margin of 52.34%. The company had revenue of $41.38 million during the quarter, compared to the consensus estimate of $41.15 million. During the same quarter last year, the business posted ($0.58) earnings per share. Establishment Labs's revenue was up 11.3% compared to the same quarter last year. As a group, equities research analysts expect that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new stake in shares of Establishment Labs during the fourth quarter worth about $24,879,000. Brown Advisory Inc. grew its stake in Establishment Labs by 23.1% in the 4th 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 during the period. Capital Research Global Investors raised its holdings in Establishment Labs by 29.3% in the 4th quarter. Capital Research Global Investors now owns 1,911,525 shares of the company's stock valued at $88,064,000 after acquiring an additional 433,484 shares during the last quarter. Voya Investment Management LLC raised its holdings in Establishment Labs by 7,249.5% in the 4th quarter. Voya Investment Management LLC now owns 408,262 shares of the company's stock valued at $18,809,000 after acquiring an additional 402,707 shares during the last quarter. Finally, Millennium Management LLC lifted 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 during the period. 72.91% of the stock is currently 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.