Bank of America Corp DE Invests $52.18 Million in Establishment Labs Holdings Inc. $ESTA

Key Points

• Bank of America acquired 608,040 shares of Establishment Labs in the second quarter, worth approximately $52.18 million and representing a 2.04% stake. Institutional investors collectively own 72.91% of the company.
• Establishment Labs reported quarterly revenue of $67.54 million, up 31.7% year over year, but missed earnings expectations with a loss of $0.39 per share versus the $0.34 consensus estimate.
• Analyst sentiment remains broadly positive, with eight Buy ratings and one Sell rating, a “Moderate Buy” consensus, and an average price target of $100.25 versus the stock’s reported $69.30 price.

Bank of America Corp DE acquired a new stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 608,040 shares of the company's stock, valued at approximately $52,176,000. Bank of America Corp DE owned 2.04% of Establishment Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Simplify Asset Management Inc. increased its holdings in Establishment Labs by 92.1% during the 4th quarter. Simplify Asset Management Inc. now owns 72,894 shares of the company's stock worth $5,313,000 after purchasing an additional 34,946 shares during the period. Assenagon Asset Management S.A. raised its position in Establishment Labs by 164.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 135,897 shares of the company's stock valued at $11,661,000 after purchasing an additional 84,592 shares in the last quarter. Tejara Capital Ltd purchased a new position in shares of Establishment Labs in the 2nd quarter valued at about $11,239,000. AlTi Global Inc. purchased a new position in shares of Establishment Labs in the 1st quarter valued at about $842,000. Finally, Sigma Planning Corp grew its position in shares of Establishment Labs by 325.5% during the first quarter. Sigma Planning Corp now owns 20,424 shares of the company's stock worth $1,160,000 after buying an additional 15,624 shares in the last quarter. Institutional investors and hedge funds own 72.91% of the company's stock.

Establishment Labs Stock Performance

NASDAQ ESTA opened at $69.30 on Monday. The company has a debt-to-equity ratio of 12.11, a current ratio of 3.84 and a quick ratio of 2.52. The firm's fifty day moving average price is $80.08 and its 200 day moving average price is $74.56. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -52.90 and a beta of 1.05. Establishment Labs Holdings Inc. has a 12 month low of $37.37 and a 12 month high of $97.59.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The company had revenue of $67.54 million during the quarter, compared to analysts' expectations of $65.79 million. During the same period last year, the firm earned ($0.57) earnings per share. Establishment Labs's revenue was up 31.7% on a year-over-year basis. On average, sell-side analysts expect that Establishment Labs Holdings Inc. will post -1.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. BTIG Research restated a "buy" rating and set a $103.00 target price on shares of Establishment Labs in a research note on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price target 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. TD Cowen increased their price objective on shares of Establishment Labs from $95.00 to $117.00 and gave the company a "buy" rating in a research report on Monday, August 3rd. Mizuho raised their price objective on shares of Establishment Labs from $100.00 to $105.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Establishment Labs in a research report on Wednesday, June 24th. Eight research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Establishment Labs has a consensus rating of "Moderate Buy" and a consensus target price of $100.25.

Establishment Labs Profile

Establishment Labs Holdings Inc is a medical technology company focused on developing, manufacturing and commercializing products for breast aesthetics and reconstruction. Founded in 2004 and headquartered in Alajuela, Costa Rica, the company serves plastic surgeons, healthcare providers and patients in markets around the world.

Its portfolio is centered on the Motiva line of breast implants, including implants designed for cosmetic augmentation and reconstructive procedures. Establishment Labs also develops related technologies and products, including tissue expanders and surgical systems, as well as Mia Femtech, a minimally invasive breast-enhancement procedure and platform.

The company operates internationally through direct sales and distribution partnerships.

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