Establishment Labs Holdings Inc. $ESTA Shares Sold by First Light Asset Management LLC

Key Points

• First Light Asset Management cut its Establishment Labs stake by 19.9% in the second quarter, selling 61,161 shares and retaining 246,577 shares worth approximately $21.2 million. Institutional investors collectively own 72.91% of the company.
• Establishment Labs reported quarterly revenue of $67.54 million, up 31.7% year over year and above estimates, but its adjusted loss of $0.39 per share missed consensus expectations. The company continues to post negative profitability metrics.
• Wall Street remains broadly positive, with eight analysts rating the stock a Buy and one a Sell. The consensus rating is Moderate Buy, with an average price target of $100.25 versus a recent share price of $74.51.

First Light Asset Management LLC decreased its position in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 19.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 246,577 shares of the company's stock after selling 61,161 shares during the period. Establishment Labs accounts for approximately 1.3% of First Light Asset Management LLC's portfolio, making the stock its 24th largest holding. First Light Asset Management LLC owned approximately 0.83% of Establishment Labs worth $21,159,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. KBC Group NV purchased a new stake in Establishment Labs in the 1st quarter worth approximately $28,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Establishment Labs during the second quarter worth $32,000. Quarry LP acquired a new stake in shares of Establishment Labs during the third quarter worth $34,000. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Establishment Labs in the second quarter valued at $43,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of Establishment Labs in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 72.91% of the company's stock.

Establishment Labs Stock Performance

Shares of NASDAQ:ESTA opened at $74.51 on Thursday. The business's 50-day simple moving average is $82.69 and its 200 day simple moving average is $74.87. The company has a market cap of $2.22 billion, a P/E ratio of -56.88 and a beta of 1.05. The company has a debt-to-equity ratio of 12.11, a quick ratio of 2.52 and a current ratio of 3.84. Establishment Labs Holdings Inc. has a one year low of $36.53 and a one year high of $97.59.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The firm had revenue of $67.54 million during the quarter, compared to analyst estimates of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The firm's revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business earned ($0.57) EPS. On average, sell-side analysts forecast that Establishment Labs Holdings Inc. will post -1.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ESTA shares. BTIG Research reiterated a "buy" rating and set a $103.00 target price on shares of Establishment Labs in a research report on Tuesday, September 1st. Needham & Company LLC upped their price objective on shares of Establishment Labs from $86.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Citigroup raised shares of Establishment Labs from a "neutral" rating to a "buy" rating and set a $92.00 price objective for the company in a research note on Thursday, August 13th. TD Cowen increased their price objective on shares of Establishment Labs from $95.00 to $117.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their target price on shares of Establishment Labs from $84.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Establishment Labs presently has a consensus rating of "Moderate Buy" and a consensus target price of $100.25.

About Establishment Labs

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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