Establishment Labs Holdings Inc. (NASDAQ:ESTA) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. cut its stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,293,203 shares of the company's stock after selling 45,166 shares during the period. Brown Advisory Inc. owned about 7.95% of Establishment Labs worth $93,574,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Quarry LP purchased a new stake in Establishment Labs in the fourth quarter worth about $27,000. KLP Kapitalforvaltning AS acquired a new stake in Establishment Labs during the fourth quarter valued at $161,000. Elevation Point Wealth Partners LLC purchased a new position in Establishment Labs during the first quarter worth about $207,000. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Establishment Labs in the 1st quarter valued at $234,000. Finally, Hood River Capital Management LLC raised its position in Establishment Labs by 236.4% during the 4th quarter. Hood River Capital Management LLC now owns 5,920 shares of the company's stock worth $273,000 after buying an additional 4,160 shares during the last quarter. 72.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ESTA shares. Needham & Company LLC reiterated a "buy" rating and issued a $48.00 price target on shares of Establishment Labs in a research report on Friday, June 13th. Wall Street Zen downgraded shares of Establishment Labs from a "hold" rating to a "sell" rating in a research note on Saturday. Citigroup lifted their price target on shares of Establishment Labs from $38.00 to $47.00 and gave the stock a "neutral" rating in a report on Wednesday. Finally, BTIG Research began coverage on shares of Establishment Labs in a research note on Friday, May 16th. They issued a "buy" rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, Establishment Labs presently has a consensus rating of "Moderate Buy" and an average target price of $51.80.

Establishment Labs Stock Down 2.3%

Shares of NASDAQ ESTA traded down $1.08 during mid-day trading on Friday, reaching $44.89. The company had a trading volume of 192,033 shares, compared to its average volume of 479,416. Establishment Labs Holdings Inc. has a 12-month low of $26.56 and a 12-month high of $52.41. The company has a debt-to-equity ratio of 5.72, a quick ratio of 2.05 and a current ratio of 3.36. The stock has a fifty day moving average of $38.21 and a two-hundred day moving average of $36.92. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -14.48 and a beta of 0.80.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share for the quarter, topping analysts' consensus estimates of ($0.83) by $0.13. The company had revenue of $41.38 million during 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 company's revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.58) earnings per share. As a group, equities research analysts expect that Establishment Labs Holdings Inc. will post -2.41 EPS for the current year.

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.