Establishment Labs Holdings Inc. $ESTA Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Establishment Labs stake by 164.9% in the second quarter, owning 135,897 shares valued at approximately $11.7 million. Institutional investors and hedge funds collectively own 72.91% of the company.
• Establishment Labs reported quarterly revenue of $67.54 million, up 31.7% year over year and above expectations, but its $0.39 loss per share missed analyst estimates. Shares opened at $75.06, down 3.0%.
• Analysts remain generally positive, with seven Buy ratings, one Hold and one Sell; the stock carries a “Moderate Buy” consensus rating and an average price target of $100.25.

Assenagon Asset Management S.A. grew its holdings in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 164.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,897 shares of the company's stock after buying an additional 84,592 shares during the quarter. Assenagon Asset Management S.A. owned 0.46% of Establishment Labs worth $11,661,000 as of its most recent SEC filing.

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

Establishment Labs Trading Down 3.0%

Shares of Establishment Labs stock opened at $75.06 on Tuesday. The stock has a 50 day moving average of $86.57 and a 200 day moving average of $74.37. The company has a debt-to-equity ratio of 16.82, a quick ratio of 1.91 and a current ratio of 2.96. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of -57.30 and a beta of 1.07. Establishment Labs Holdings Inc. has a fifty-two week low of $33.35 and a fifty-two week high of $97.59.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) 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 205.79%. 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 posted ($0.57) earnings per share. Establishment Labs's revenue was up 31.7% on a year-over-year basis. As a group, research analysts predict that Establishment Labs Holdings Inc. will post -1.07 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on ESTA shares. Citigroup increased their price objective on Establishment Labs from $76.00 to $92.00 and gave the company a "neutral" rating in a research note on Wednesday, July 8th. TD Cowen raised their price target 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. Needham & Company LLC boosted their price target on shares of Establishment Labs from $86.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, August 6th. Mizuho upped their price objective on shares of Establishment Labs from $100.00 to $105.00 and gave the company an "outperform" rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Establishment Labs from $84.00 to $95.00 and gave the company an "overweight" rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently 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.

Want to see what other hedge funds are holding ESTA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source