Kornitzer Capital Management Inc. KS Has $8.67 Million Position in Establishment Labs Holdings Inc. $ESTA

Key Points

• Kornitzer Capital cut its stake by 33% in Q4 and now holds 118,920 shares of Establishment Labs worth $8.67 million (about 0.41% of the company), while other institutional investors have generally been increasing positions and institutions own 72.91% of the stock.
• Analysts are mostly bullish — six Buys, one Hold and one Sell — and the consensus rating is a Moderate Buy with a consensus price target of $86.86 after several recent price-target increases.
• Establishment Labs beat quarterly estimates with EPS of -$0.09 (vs. -$0.22 est.) and revenue of $64.62M, up 45.2% year-over-year, but the company remains unprofitable with a negative net margin and negative return on equity, and insiders have sold about 150,000 shares in the last 90 days.

Kornitzer Capital Management Inc. KS reduced its position in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 33.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,920 shares of the company's stock after selling 58,560 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.41% of Establishment Labs worth $8,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Nantahala Capital Management LLC lifted its holdings in Establishment Labs by 11.1% during the 3rd quarter. Nantahala Capital Management LLC now owns 1,973,492 shares of the company's stock worth $80,893,000 after purchasing an additional 197,962 shares during the last quarter. Bamco Inc. NY lifted its holdings in Establishment Labs by 30.2% during the 3rd quarter. Bamco Inc. NY now owns 1,181,824 shares of the company's stock worth $48,443,000 after purchasing an additional 274,287 shares during the last quarter. Tyro Capital Management LLC lifted its holdings in Establishment Labs by 1.0% during the 3rd quarter. Tyro Capital Management LLC now owns 1,077,456 shares of the company's stock worth $44,165,000 after purchasing an additional 10,735 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Establishment Labs by 17.6% during the 3rd quarter. William Blair Investment Management LLC now owns 1,017,543 shares of the company's stock worth $41,709,000 after purchasing an additional 152,299 shares during the last quarter. Finally, Mudita Advisors LLP lifted its holdings in Establishment Labs by 14.3% during the 3rd quarter. Mudita Advisors LLP now owns 686,764 shares of the company's stock worth $28,150,000 after purchasing an additional 86,100 shares during the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Needham & Company LLC lifted their price target on Establishment Labs from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Tuesday, February 24th. Mizuho lifted their price target on Establishment Labs from $90.00 to $100.00 and gave the stock an "outperform" rating in a report on Wednesday, February 25th. Stephens raised their price objective on Establishment Labs from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 25th. BTIG Research restated a "buy" rating and set a $88.00 price objective on shares of Establishment Labs in a research note on Wednesday. Finally, Citigroup lowered their price objective on Establishment Labs from $81.00 to $74.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 11th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Establishment Labs presently has a consensus rating of "Moderate Buy" and a consensus price target of $86.86.

Insiders Place Their Bets

In related news, Director Quiros Juan Jose Chacon sold 2,180 shares of the business's stock in a transaction on Monday, April 27th. The stock was sold at an average price of $66.26, for a total transaction of $144,446.80. Following the sale, the director owned 1,107,504 shares in the company, valued at $73,383,215.04. The trade was a 0.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 150,000 shares of company stock worth $9,629,263. Insiders own 9.99% of the company's stock.

Establishment Labs Trading Up 2.3%

Shares of ESTA opened at $70.23 on Friday. Establishment Labs Holdings Inc. has a 52-week low of $31.04 and a 52-week high of $83.31. The business's fifty day moving average is $65.53 and its 200-day moving average is $65.71. The company has a debt-to-equity ratio of 10.51, a quick ratio of 2.00 and a current ratio of 3.04. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -40.36 and a beta of 1.12.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.13. The company had revenue of $64.62 million for the quarter, compared to analyst estimates of $63.80 million. Establishment Labs had a negative return on equity of 201.79% and a negative net margin of 24.19%.The company's revenue for the quarter was up 45.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.19) EPS. Equities analysts anticipate that Establishment Labs Holdings Inc. will post -0.86 EPS for the current fiscal year.

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.

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