Establishment Labs Holdings Inc. $ESTA Shares Sold by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC significantly reduced its stake in Establishment Labs Holdings Inc. by 48.9%, now holding 0.72% of the company, valued at approximately $8.5 million.
• Analyst ratings for Establishment Labs show mixed signals, with Wall Street Zen downgrading the stock to "sell," while Canaccord Genuity and Needham & Company continue to maintain "buy" ratings with price targets of $60.00 and $48.00 respectively.
• Establishment Labs reported a revenue increase of 16.1% year-over-year, with earnings per share at ($0.57), slightly missing the consensus estimate of ($0.54).

Voya Investment Management LLC cut its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 48.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 208,723 shares of the company's stock after selling 199,539 shares during the period. Voya Investment Management LLC owned 0.72% of Establishment Labs worth $8,517,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Mudita Advisors LLP grew its stake in shares of Establishment Labs by 15.6% during the 1st quarter. Mudita Advisors LLP now owns 479,359 shares of the company's stock valued at $19,560,000 after buying an additional 64,859 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Establishment Labs by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,215 shares of the company's stock worth $2,335,000 after purchasing an additional 9,557 shares during the period. Boothbay Fund Management LLC boosted its position in Establishment Labs by 0.6% during the 1st quarter. Boothbay Fund Management LLC now owns 528,308 shares of the company's stock worth $21,558,000 after purchasing an additional 3,060 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Establishment Labs during the 1st quarter worth $326,000. Finally, Redmile Group LLC boosted its position in Establishment Labs by 4.8% during the 1st quarter. Redmile Group LLC now owns 335,366 shares of the company's stock worth $13,685,000 after purchasing an additional 15,217 shares during the period. 72.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Establishment Labs Stock Performance

ESTA traded down $1.09 on Friday, hitting $39.46. 158,628 shares of the company's stock were exchanged, compared to its average volume of 224,994. The firm has a market cap of $1.14 billion, a PE ratio of -12.94 and a beta of 0.85. Establishment Labs Holdings Inc. has a twelve month low of $26.56 and a twelve month high of $50.85. The stock has a fifty day moving average of $40.24 and a two-hundred day moving average of $37.83. The company has a current ratio of 2.84, a quick ratio of 1.67 and a debt-to-equity ratio of 9.71.

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

Establishment Labs Profile

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.