New York State Common Retirement Fund Acquires New Holdings in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Key Points

• The New York State Common Retirement Fund acquired approximately 21,897 shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) in the 1st quarter, valued at around $894,000.
• Wall Street analysts have mixed views on ESTA, with Mizuho raising its price target from $58.00 to $70.00 and issuing an "outperform" rating, while several other firms have rated it as a "buy" or "hold".
• As of the latest report, shares of Establishment Labs are down 1.7%, with a current price of $42.41, and the company has a market capitalization of $1.23 billion.

New York State Common Retirement Fund purchased a new stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,897 shares of the company's stock, valued at approximately $894,000. New York State Common Retirement Fund owned approximately 0.08% of Establishment Labs as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Swiss National Bank grew 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 worth $1,774,000 after buying an additional 1,000 shares in the last quarter. Sei Investments Co. grew its stake in Establishment Labs by 22.3% during the fourth quarter. Sei Investments Co. now owns 42,471 shares of the company's stock worth $1,957,000 after buying an additional 7,731 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in Establishment Labs during the fourth quarter worth about $161,000. Sit Investment Associates Inc. grew its stake in Establishment Labs by 104.7% during the fourth quarter. Sit Investment Associates Inc. now owns 21,600 shares of the company's stock worth $995,000 after buying an additional 11,050 shares in the last quarter. Finally, Federated Hermes Inc. grew 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 worth $1,507,000 after buying an additional 953 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. 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 objective on the stock. Wall Street Zen upgraded shares of Establishment Labs from a "sell" rating to a "hold" rating in a research note on Saturday. Needham & Company LLC reiterated a "buy" rating and set a $48.00 price objective on shares of Establishment Labs in a research note on Friday, June 13th. Mizuho increased their price objective on shares of Establishment Labs from $58.00 to $70.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, Citigroup increased their target price on shares of Establishment Labs from $38.00 to $47.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Establishment Labs has an average rating of "Moderate Buy" and a consensus target price of $54.83.

Establishment Labs Price Performance

Shares of ESTA stock traded up $1.24 on Tuesday, reaching $43.72. The company had a trading volume of 22,339 shares, compared to its average volume of 530,321. The stock has a market capitalization of $1.26 billion, a PE ratio of -14.12 and a beta of 0.80. The company has a quick ratio of 2.05, a current ratio of 3.36 and a debt-to-equity ratio of 5.72. Establishment Labs Holdings Inc. has a one year low of $26.56 and a one year high of $50.85. The business's 50-day moving average is $40.02 and its 200 day moving average is $36.62.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.83) by $0.13. The business had revenue of $41.38 million during the quarter, compared to analyst estimates of $41.15 million. Establishment Labs had a negative net margin of 52.34% and a negative return on equity of 196.25%. The firm's quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.58) EPS. Equities research analysts forecast that Establishment Labs Holdings Inc. will post -2.41 EPS 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.