Millennium Management LLC Acquires 350,213 Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Millennium Management LLC increased its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 96.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 711,691 shares of the company's stock after acquiring an additional 350,213 shares during the quarter. Millennium Management LLC owned about 2.54% of Establishment Labs worth $32,788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quarry LP bought a new position in shares of Establishment Labs during the fourth quarter worth $27,000. R Squared Ltd purchased a new stake in Establishment Labs during the fourth quarter valued at $36,000. Federated Hermes Inc. raised its stake in Establishment Labs by 3.0% during the fourth quarter. Federated Hermes Inc. now owns 32,720 shares of the company's stock valued at $1,507,000 after purchasing an additional 953 shares in the last quarter. Swiss National Bank raised its stake in Establishment Labs by 2.7% during the fourth quarter. Swiss National Bank now owns 38,500 shares of the company's stock valued at $1,774,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Establishment Labs by 32.3% during the fourth quarter. Handelsbanken Fonder AB now owns 8,200 shares of the company's stock valued at $378,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 72.91% of the company's stock.

Establishment Labs Trading Down 0.6%

Shares of NASDAQ ESTA traded down $0.23 during mid-day trading on Friday, reaching $36.62. The company had a trading volume of 306,871 shares, compared to its average volume of 473,448. The business's 50-day moving average is $34.33 and its 200-day moving average is $37.88. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -14.19 and a beta of 0.73. Establishment Labs Holdings Inc. has a 52 week low of $26.56 and a 52 week high of $58.00.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported ($0.70) EPS for the quarter, topping analysts' consensus estimates of ($0.83) by $0.13. The firm had revenue of $41.38 million for the quarter, compared to analysts' expectations of $41.15 million. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The business's revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.58) earnings per share. Equities analysts expect that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ESTA. Wall Street Zen downgraded shares of Establishment Labs from a "hold" rating to a "sell" rating in a research note on Thursday. Stephens reaffirmed an "overweight" rating and set a $52.00 price target on shares of Establishment Labs in a research note on Thursday, March 6th. Needham & Company LLC raised shares of Establishment Labs from a "hold" rating to a "buy" rating and set a $48.00 price target on the stock in a research note on Wednesday, May 14th. Finally, BTIG Research assumed coverage on shares of Establishment Labs in a research note on Friday, May 16th. They set a "buy" rating and a $62.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy 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 $55.33.

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.