Establishment Labs (NASDAQ:ESTA) Shares Down 5.3% - Time to Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report)'s share price dropped 5.3% during mid-day trading on Thursday . The stock traded as low as $36.50 and last traded at $36.50. Approximately 357,253 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 474,011 shares. The stock had previously closed at $38.54.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Stephens reaffirmed an "overweight" rating and issued a $52.00 target price on shares of Establishment Labs in a research report on Thursday, March 6th. Wall Street Zen lowered Establishment Labs from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. BTIG Research began 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $48.00 price target on shares of Establishment Labs in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $52.40.

Establishment Labs Stock Up 1.1%

The firm has a market capitalization of $1.08 billion, a PE ratio of -14.48 and a beta of 0.74. The business's fifty day moving average price is $33.79 and its 200 day moving average price is $37.41. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.70) EPS 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 firm had revenue of $41.38 million during the quarter, compared to the consensus estimate of $41.15 million. During the same period in the prior year, the business earned ($0.58) EPS. The firm's revenue was up 11.3% compared to the same quarter last year. On average, equities research analysts forecast that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Establishment Labs

Several institutional investors have recently bought and sold shares of ESTA. Toronto Dominion Bank purchased a new stake in shares of Establishment Labs in the fourth quarter valued at about $24,879,000. Brown Advisory Inc. increased its position in 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 during the period. Capital Research Global Investors increased its position in 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 during the period. 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 buying an additional 402,707 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Establishment Labs by 96.9% in the 4th quarter. Millennium Management LLC now owns 711,691 shares of the company's stock valued at $32,788,000 after buying an additional 350,213 shares during the period. 72.91% of the stock is owned by institutional investors and hedge funds.

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.