90,630 Establishment Labs Holdings Inc. $ESTA Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Establishment Labs stake by 66.7% in the third quarter, selling 90,630 shares and retaining 45,267 shares valued at approximately $2.9 million.
• Several major institutions, including BlackRock, William Blair, and Bank of America, initiated positions in the second quarter; institutional investors and hedge funds collectively own 72.91% of ESTA.
• Establishment Labs reported quarterly revenue of $67.54 million, up 31.7% year over year, but missed EPS expectations. Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $98.56 versus a recent price of $62.28.

Assenagon Asset Management S.A. lowered its stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 66.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 45,267 shares of the company's stock after selling 90,630 shares during the quarter. Assenagon Asset Management S.A. owned about 0.15% of Establishment Labs worth $2,905,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ESTA. BlackRock Inc. purchased a new position in Establishment Labs in the 2nd quarter worth approximately $135,752,000. William Blair Investment Management LLC acquired a new stake in Establishment Labs in the second quarter valued at approximately $61,273,000. Bank of America Corp DE purchased a new stake in shares of Establishment Labs during the second quarter valued at approximately $52,176,000. Rice Hall James & Associates LLC purchased a new stake in shares of Establishment Labs during the second quarter valued at approximately $48,134,000. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Establishment Labs during the second quarter valued at approximately $28,817,572. Institutional investors and hedge funds own 72.91% of the company's stock.

Establishment Labs Price Performance

Establishment Labs stock opened at $62.28 on Thursday. The company has a current ratio of 3.84, a quick ratio of 2.52 and a debt-to-equity ratio of 12.11. The stock has a 50 day moving average of $68.43 and a 200-day moving average of $74.56. Establishment Labs Holdings Inc. has a 52 week low of $47.00 and a 52 week high of $97.59.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). The company had revenue of $67.54 million during the quarter, compared to the consensus estimate of $65.79 million. Establishment Labs had a negative return on equity of 196.69% and a negative net margin of 15.82%. The firm's quarterly revenue was up 31.7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.57) EPS. Equities analysts expect that Establishment Labs Holdings Inc. will post -1.08 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ESTA. Stifel Nicolaus set a $85.00 target price on shares of Establishment Labs and gave the company a "buy" rating in a research note on Wednesday, October 14th. Citigroup raised shares of Establishment Labs from a "neutral" rating to a "buy" rating and set a $92.00 price target on the stock in a research note on Thursday, August 13th. BTIG Research reaffirmed a "buy" rating and set a $103.00 price target on shares of Establishment Labs in a research note on Tuesday, September 1st. Mizuho boosted their price objective on shares of Establishment Labs from $100.00 to $105.00 and gave the stock an "outperform" rating in a report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Establishment Labs from $84.00 to $95.00 and gave the stock an "overweight" rating in a report on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $98.56.

About Establishment Labs

Establishment Labs Holdings Inc is a medical technology company focused on women's health and the breast aesthetics market. The company develops, manufactures and commercializes breast implants and related technologies designed for breast augmentation, reconstruction and revision procedures.

Its product portfolio includes the Motiva line of breast implants, which incorporates the company's proprietary implant materials, surface technologies and design features. Establishment Labs also offers Motiva Flora tissue expanders for use in breast reconstruction and has developed Mia Femtech, a minimally invasive breast enhancement procedure intended to provide a less invasive alternative to traditional augmentation techniques.

Founded in 2004, Establishment Labs is headquartered in Costa Rica and serves physicians, hospitals and patients in international markets.

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