Establishment Labs (NASDAQ:ESTA) Rating Increased to Hold at Wall Street Zen

Key Points

• Establishment Labs has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, reflecting a more optimistic outlook on the company's stock.
• Multiple brokerages are also bullish, with Needham & Company and BTIG Research giving the stock a "buy" rating and setting target prices of $48.00 and $62.00, respectively.
• Establishment Labs reported a quarterly EPS of ($0.70), surpassing analysts' expectations, and achieved a revenue of $41.38 million, representing an 11.3% year-over-year increase.

Establishment Labs (NASDAQ:ESTA - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Several other research firms also recently commented on ESTA. BTIG Research initiated coverage on shares of Establishment Labs in a research report on Friday, May 16th. They set a "buy" rating and a $62.00 target price on the stock. Mizuho raised their target price on Establishment Labs from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Needham & Company LLC reaffirmed a "buy" rating and set a $48.00 target price on shares of Establishment Labs in a research report on Friday, June 13th. Finally, Citigroup raised their target price on Establishment Labs from $38.00 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $54.83.

Establishment Labs Stock Down 1.7%

ESTA traded down $0.74 during trading on Friday, hitting $42.41. The stock had a trading volume of 302,751 shares, compared to its average volume of 325,433. The company has a 50 day moving average price of $39.91 and a 200-day moving average price of $36.79. Establishment Labs has a one year low of $26.56 and a one year high of $50.85. The company has a debt-to-equity ratio of 5.72, a quick ratio of 2.05 and a current ratio of 3.36.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.83) by $0.13. The business had revenue of $41.38 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.58) earnings per share. On average, equities research analysts anticipate that Establishment Labs will post -2.41 earnings per share for the current year.

Institutional Trading of Establishment Labs

Several hedge funds have recently bought and sold shares of ESTA. Quarry LP bought a new stake in Establishment Labs during the fourth quarter valued at about $27,000. ANTIPODES PARTNERS Ltd bought a new stake in Establishment Labs in the 1st quarter valued at $81,000. CWM LLC increased its holdings in Establishment Labs by 45.9% in the 2nd quarter. CWM LLC now owns 2,182 shares of the company's stock valued at $93,000 after acquiring an additional 686 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in Establishment Labs in the 4th quarter valued at $161,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Establishment Labs during the first quarter valued at about $207,000. Institutional investors own 72.91% of the company's stock.

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.