Assenagon Asset Management S.A. Sells 64,571 Shares of Establishment Labs Holdings Inc. $ESTA

Key Points

• Assenagon Asset Management cut its stake in Establishment Labs by 55.7% in the first quarter, selling 64,571 shares and leaving it with 51,305 shares worth about $2.9 million.
• Institutional ownership remains high, with 72.91% of the stock held by institutional investors, and several funds either increased or initiated positions in the company.
• Analyst sentiment is mostly positive: Establishment Labs has a consensus rating of “Moderate Buy” with an average price target of $87.14, even as some firms maintain neutral or sell views.

Assenagon Asset Management S.A. lowered its position in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 51,305 shares of the company's stock after selling 64,571 shares during the quarter. Assenagon Asset Management S.A. owned about 0.17% of Establishment Labs worth $2,913,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Establishment Labs by 20.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,215 shares of the company's stock valued at $2,335,000 after purchasing an additional 9,557 shares during the period. Geode Capital Management LLC raised its stake in shares of Establishment Labs by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 25,917 shares of the company's stock valued at $1,105,000 after purchasing an additional 299 shares during the period. WINTON GROUP Ltd bought a new stake in shares of Establishment Labs during the 2nd quarter valued at $651,000. Nebula Research & Development LLC lifted its holdings in Establishment Labs by 27.9% during the 2nd quarter. Nebula Research & Development LLC now owns 16,214 shares of the company's stock worth $692,000 after purchasing an additional 3,538 shares in the last quarter. Finally, Sei Investments Co. lifted its holdings in Establishment Labs by 13.3% during the 2nd quarter. Sei Investments Co. now owns 48,428 shares of the company's stock worth $2,068,000 after purchasing an additional 5,668 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ESTA has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Establishment Labs in a report on Wednesday, June 24th. TD Cowen reissued a "buy" rating on shares of Establishment Labs in a report on Monday, June 8th. Citigroup restated a "neutral" rating on shares of Establishment Labs in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Establishment Labs from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Finally, BTIG Research boosted their price objective on shares of Establishment Labs from $88.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Establishment Labs has a consensus rating of "Moderate Buy" and an average target price of $87.14.

Insider Transactions at Establishment Labs

In other Establishment Labs news, Director Quiros Juan Jose Chacon sold 105,000 shares of Establishment Labs stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $75.42, for a total transaction of $7,919,100.00. Following the completion of the sale, the director owned 927,504 shares of the company's stock, valued at $69,952,351.68. The trade was a 10.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 292,500 shares of company stock worth $20,591,021 over the last three months. Insiders own 9.99% of the company's stock.

Establishment Labs Stock Down 1.8%

Shares of NASDAQ ESTA opened at $85.81 on Wednesday. The company has a current ratio of 2.96, a quick ratio of 1.91 and a debt-to-equity ratio of 16.82. The business has a 50-day moving average of $74.45 and a 200-day moving average of $70.56. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of -57.59 and a beta of 1.11. Establishment Labs Holdings Inc. has a 12 month low of $33.35 and a 12 month high of $90.50.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.10). The company had revenue of $59.88 million for the quarter, compared to the consensus estimate of $57.40 million. Establishment Labs had a negative net margin of 19.05% and a negative return on equity of 218.77%. The company's revenue for the quarter was up 44.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.70) earnings per share. Sell-side analysts expect that Establishment Labs Holdings Inc. will post -1.07 earnings per share for the current fiscal year.

Establishment Labs Profile

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company's proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company's flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.

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