First Light Asset Management LLC Acquires New Shares in Establishment Labs Holdings Inc. $ESTA

Key Points

• First Light Asset Management LLC acquired 336,870 shares of Establishment Labs Holdings Inc. for approximately $13.7 million, making it the company's 20th largest holding.
• Analysts have given mixed ratings on Establishment Labs, with a consensus rating of "Moderate Buy" and an average target price of $56.50.
• Establishment Labs reported a revenue of $51.3 million for the most recent quarter but missed earnings per share estimates by $0.03.

First Light Asset Management LLC acquired a new stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 336,870 shares of the company's stock, valued at approximately $13,746,000. Establishment Labs makes up approximately 1.6% of First Light Asset Management LLC's portfolio, making the stock its 20th biggest position. First Light Asset Management LLC owned about 1.16% of Establishment Labs as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. increased its holdings in shares of Establishment Labs by 0.4% during the first quarter. Raymond James Financial Inc. now owns 119,752 shares of the company's stock valued at $4,886,000 after acquiring an additional 491 shares in the last quarter. Swiss National Bank boosted its position in shares of Establishment Labs by 1.3% during the first quarter. Swiss National Bank now owns 39,000 shares of the company's stock valued at $1,591,000 after buying an additional 500 shares during the last quarter. Quarry LP purchased a new position in shares of Establishment Labs during the fourth quarter valued at approximately $27,000. ANTIPODES PARTNERS Ltd purchased a new position in shares of Establishment Labs during the first quarter valued at approximately $81,000. Finally, Stonepine Capital Management LLC boosted its position in shares of Establishment Labs by 6.7% during the fourth quarter. Stonepine Capital Management LLC now owns 80,002 shares of the company's stock valued at $3,686,000 after buying an additional 5,002 shares during the last quarter. Institutional investors own 72.91% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ESTA. Mizuho lifted their target price on Establishment Labs from $58.00 to $70.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Wall Street Zen cut Establishment Labs from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. Canaccord Genuity Group started coverage on Establishment Labs in a research report on Wednesday, August 20th. They issued a "buy" rating and a $60.00 price objective on the stock. BTIG Research started coverage on Establishment Labs in a research report on Friday, May 16th. They issued a "buy" rating and a $62.00 price objective on the stock. Finally, 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. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $56.50.

Establishment Labs Stock Performance

Shares of ESTA traded up $0.36 during mid-day trading on Friday, hitting $39.03. The stock had a trading volume of 173,812 shares, compared to its average volume of 392,709. The firm has a market cap of $1.13 billion, a P/E ratio of -12.80 and a beta of 0.85. The business has a fifty day moving average price of $41.41 and a 200-day moving average price of $37.90. 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 52 week low of $26.56 and a 52 week high of $50.85.

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