Bank of America Corp DE Raises Stock Position in Establishment Labs Holdings Inc. $ESTA

Key Points

• Bank of America increased its Establishment Labs stake by 56.7% in the first quarter, holding 416,840 shares worth approximately $23.7 million. Hedge funds and other institutional investors collectively own 72.91% of the company.
• Establishment Labs’ shares were trading down 3.6% at $76.62, while quarterly revenue rose 31.7% year over year to $67.54 million. However, the company reported an adjusted loss of $0.39 per share, missing analyst expectations.
• Analyst sentiment remains favorable, with eight Buy ratings and one Sell rating. The stock has a “Moderate Buy” consensus and an average price target of $100.25, well above its reported trading price.

Bank of America Corp DE grew its position in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 56.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 416,840 shares of the company's stock after purchasing an additional 150,797 shares during the quarter. Bank of America Corp DE owned about 1.42% of Establishment Labs worth $23,668,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. KBC Group NV purchased a new position in Establishment Labs during the 1st quarter worth $28,000. Kestra Advisory Services LLC purchased a new stake in Establishment Labs in the fourth quarter valued at about $47,000. Quarry LP purchased a new stake in Establishment Labs in the third quarter valued at about $34,000. MV Capital Management Inc. acquired a new stake in Establishment Labs in the fourth quarter worth about $146,000. Finally, Osaic Holdings Inc. boosted its holdings in Establishment Labs by 900.0% in the second quarter. Osaic Holdings Inc. now owns 2,000 shares of the company's stock worth $85,000 after acquiring an additional 1,800 shares in the last quarter. 72.91% of the stock is owned by hedge funds and other institutional investors.

Establishment Labs Trading Down 3.6%

NASDAQ ESTA opened at $76.62 on Tuesday. Establishment Labs Holdings Inc. has a 1 year low of $36.53 and a 1 year high of $97.59. 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 company has a market capitalization of $2.28 billion, a PE ratio of -58.49 and a beta of 1.07. The company has a fifty day moving average of $86.83 and a 200 day moving average of $74.73.

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 the consensus estimate of ($0.34) by ($0.05). Establishment Labs had a negative return on equity of 196.69% and a negative net margin of 15.82%.The company had revenue of $67.54 million for the quarter, compared to analyst estimates of $65.79 million. During the same period in the prior year, the business posted ($0.57) earnings per share. Establishment Labs's revenue for the quarter was up 31.7% on a year-over-year basis. Research analysts forecast that Establishment Labs Holdings Inc. will post -1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ESTA. Needham & Company LLC lifted their target price on shares of Establishment Labs from $86.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. BTIG Research raised their price target on shares of Establishment Labs from $96.00 to $103.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. TD Cowen lifted their price objective on shares of Establishment Labs from $95.00 to $117.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Weiss Ratings reissued a "sell (e+)" rating on shares of Establishment Labs in a report on Wednesday, June 24th. Finally, Mizuho boosted 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. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Establishment Labs has a consensus rating of "Moderate Buy" and an average target price of $100.25.

Establishment Labs Company 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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