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

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

Wall Street Analyst Weigh In

ESTA has been the subject of a number of recent analyst reports. BTIG Research began coverage on Establishment Labs in a research note on Friday, May 16th. They issued a "buy" rating and a $62.00 price objective for the company. Needham & Company LLC restated a "buy" rating and set a $48.00 target price on shares of Establishment Labs in a research report on Friday, June 13th. Finally, Wall Street Zen upgraded Establishment Labs from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.40.

Establishment Labs Trading Down 1.1%

The stock's 50-day simple moving average is $36.78 and its 200-day simple moving average is $36.81. 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 firm has a market capitalization of $1.27 billion, a PE 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, beating the consensus estimate of ($0.83) by $0.13. The company had revenue of $41.38 million for the quarter, compared to analyst estimates of $41.15 million. Establishment Labs had a negative return on equity of 196.25% and a negative net margin of 52.34%. The firm's revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.58) earnings per share. As a group, sell-side analysts expect that Establishment Labs Holdings Inc. will post -2.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Brown Advisory Inc. increased its stake in shares of Establishment Labs by 23.1% during the fourth quarter. Brown Advisory Inc. now owns 2,338,369 shares of the company's stock valued at $107,729,000 after purchasing an additional 438,057 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Establishment Labs by 29.3% in the 4th quarter. Capital Research Global Investors now owns 1,911,525 shares of the company's stock worth $88,064,000 after buying an additional 433,484 shares during the last quarter. Nantahala Capital Management LLC increased its position in Establishment Labs by 7.2% during the 1st quarter. Nantahala Capital Management LLC now owns 1,774,044 shares of the company's stock valued at $72,390,000 after buying an additional 119,574 shares in the last quarter. Findell Capital Management LLC raised its stake in Establishment Labs by 28.5% during the fourth quarter. Findell Capital Management LLC now owns 1,346,480 shares of the company's stock valued at $62,032,000 after buying an additional 298,380 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in Establishment Labs by 7.4% during the first quarter. Rice Hall James & Associates LLC now owns 827,423 shares of the company's stock valued at $33,763,000 after buying an additional 56,756 shares during the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

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.