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

Key Points

• Assenagon Asset Management S.A. reduced its holdings in Establishment Labs by 47.5%, selling 69,806 shares, and now owns 0.27% of the company valued at approximately $3.3 million.
• Several institutional investors initiated new stakes in Establishment Labs, highlighting a significant interest from the hedge fund community, which collectively owns 72.91% of the stock.
• Despite missing earnings expectations with a reported ($0.57) EPS, Establishment Labs saw a revenue increase of 16.1% year-over-year, totaling $51.30 million for the quarter.

Assenagon Asset Management S.A. cut its holdings in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 47.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,186 shares of the company's stock after selling 69,806 shares during the quarter. Assenagon Asset Management S.A. owned 0.27% of Establishment Labs worth $3,297,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ESTA. ANTIPODES PARTNERS Ltd acquired a new stake in Establishment Labs during the 1st quarter worth about $81,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Establishment Labs in the first quarter worth about $207,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Establishment Labs during the first quarter worth about $234,000. ADAR1 Capital Management LLC purchased a new position in Establishment Labs during the first quarter valued at approximately $326,000. Finally, New York State Common Retirement Fund purchased a new position in Establishment Labs during the first quarter valued at approximately $894,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ESTA. Needham & Company LLC reaffirmed a "buy" rating and set a $48.00 price objective on shares of Establishment Labs in a research note on Friday, June 13th. Wall Street Zen upgraded shares of Establishment Labs from a "sell" rating to a "hold" rating in a research report on Saturday, September 20th. Citigroup upped their price objective on shares of Establishment Labs from $38.00 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Canaccord Genuity Group began coverage on Establishment Labs in a research report on Wednesday, August 20th. They set a "buy" rating and a $60.00 target price on the stock. Finally, Mizuho upped their price target on Establishment Labs from $58.00 to $70.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Establishment Labs presently has an average rating of "Moderate Buy" and an average price target of $56.50.

Establishment Labs Stock Performance

Shares of NASDAQ:ESTA opened at $41.66 on Thursday. The company has a debt-to-equity ratio of 9.71, a current ratio of 2.84 and a quick ratio of 1.67. Establishment Labs Holdings Inc. has a 1 year low of $26.56 and a 1 year high of $50.85. The firm has a market capitalization of $1.21 billion, a PE ratio of -13.66 and a beta of 0.85. The business's 50 day moving average price is $40.08 and its 200-day moving average price is $37.89.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.03). Establishment Labs had a negative net margin of 49.89% and a negative return on equity of 224.34%. The firm had revenue of $51.30 million during the quarter, compared to analyst estimates of $50.80 million. During the same period in the prior year, the company posted ($0.62) earnings per share. The firm's revenue for the quarter was up 16.1% compared to the same quarter last year. Establishment Labs has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current fiscal 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.

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