Establishment Labs Holdings Inc. $ESTA Position Lessened by JW Asset Management LLC

Key Points

• JW Asset Management cut its Establishment Labs stake by 12% in the second quarter, selling 368,838 shares and retaining 2.69 million shares worth approximately $231.1 million. The position remains 72.6% of the firm’s portfolio and represents about 9.04% of ESTA.
• Institutional ownership remains substantial at 72.91%, with several major investors increasing their positions, including California State Teachers’ Retirement System, BlackRock, Bamco and Goldman Sachs.
• Establishment Labs reported quarterly revenue of $67.54 million, up 31.7% year over year, but missed the EPS consensus with a loss of $0.39 per share. Analysts maintain a “Moderate Buy” consensus and an average price target of $100.25, versus a recent share price of $75.29.

JW Asset Management LLC lowered its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 12.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,692,856 shares of the company's stock after selling 368,838 shares during the quarter. Establishment Labs comprises 72.6% of JW Asset Management LLC's portfolio, making the stock its largest position. JW Asset Management LLC owned approximately 9.04% of Establishment Labs worth $231,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Nantahala Capital Management LLC grew its stake in Establishment Labs by 11.1% in the third quarter. Nantahala Capital Management LLC now owns 1,973,492 shares of the company's stock worth $80,893,000 after purchasing an additional 197,962 shares during the period. California State Teachers Retirement System increased its stake in shares of Establishment Labs by 8,625.7% in the 2nd quarter. California State Teachers Retirement System now owns 1,930,124 shares of the company's stock worth $165,624,000 after acquiring an additional 1,908,004 shares in the last quarter. BlackRock Inc. bought a new position in shares of Establishment Labs in the 2nd quarter worth about $135,752,000. Bamco Inc. NY lifted its position in Establishment Labs by 21.5% during the 2nd quarter. Bamco Inc. NY now owns 907,537 shares of the company's stock valued at $38,761,000 after acquiring an additional 160,755 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in Establishment Labs by 117.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 811,536 shares of the company's stock valued at $59,145,000 after acquiring an additional 438,206 shares during the period. 72.91% of the stock is owned by institutional investors.

Establishment Labs Stock Up 1.3%

Shares of NASDAQ ESTA traded up $1.00 during midday trading on Tuesday, hitting $75.29. The stock had a trading volume of 433,849 shares, compared to its average volume of 540,089. The business's 50 day moving average is $83.19 and its 200-day moving average is $74.89. Establishment Labs Holdings Inc. has a 52 week low of $36.53 and a 52 week high of $97.59. The company has a quick ratio of 2.52, a current ratio of 3.84 and a debt-to-equity ratio of 12.11. The company has a market cap of $2.24 billion, a P/E ratio of -57.47 and a beta of 1.05.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate 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 business had revenue of $67.54 million for the quarter, compared to analysts' expectations of $65.79 million. During the same quarter in the prior year, the business posted ($0.57) earnings per share. The business's revenue for the quarter was up 31.7% on a year-over-year basis. As a group, analysts predict that Establishment Labs Holdings Inc. will post -1.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. BTIG Research restated a "buy" rating and issued a $103.00 price objective on shares of Establishment Labs in a report on Tuesday, September 1st. Citigroup raised Establishment Labs from a "neutral" rating to a "buy" rating and set a $92.00 price target on the stock in a research report on Thursday, August 13th. Mizuho upped their price target on Establishment Labs from $100.00 to $105.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Needham & Company LLC raised their price objective on Establishment Labs from $86.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Finally, Canaccord Genuity Group set a $105.00 price objective on Establishment Labs in a research note on Thursday, August 6th. Eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $100.25.

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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