Royce & Associates LP Purchases 86,965 Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Key Points

• Royce & Associates LP increased its stake in Establishment Labs Holdings Inc. by 82.4%, acquiring an additional 86,965 shares and totaling 192,491 shares worth approximately $7.85 million.
• Establishment Labs reported a quarterly loss of ($0.70) EPS, despite surpassing analysts' expectations of ($0.83), with revenues of $41.38 million indicating an 11.3% year-over-year growth.
• Equities research analysts have set a target price for Establishment Labs, with estimates ranging from $47.00 to $70.00, reflecting a generally positive sentiment towards the company's stock.

Royce & Associates LP raised its position in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 82.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,491 shares of the company's stock after buying an additional 86,965 shares during the quarter. Royce & Associates LP owned 0.67% of Establishment Labs worth $7,855,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ESTA. Quarry LP purchased a new stake in Establishment Labs during the fourth quarter valued at about $27,000. ANTIPODES PARTNERS Ltd purchased a new stake in Establishment Labs during the first quarter valued at about $81,000. KLP Kapitalforvaltning AS purchased a new stake in Establishment Labs during the fourth quarter valued at about $161,000. Elevation Point Wealth Partners LLC purchased a new stake in Establishment Labs during the first quarter valued at about $207,000. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in Establishment Labs during the first quarter valued at about $234,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

Establishment Labs Stock Performance

ESTA stock traded up $0.79 during midday trading on Wednesday, hitting $42.02. 81,325 shares of the company traded hands, compared to its average volume of 528,790. Establishment Labs Holdings Inc. has a twelve month low of $26.56 and a twelve month high of $50.85. The company has a quick ratio of 2.05, a current ratio of 3.36 and a debt-to-equity ratio of 5.72. The business has a 50 day simple moving average of $40.09 and a 200-day simple moving average of $36.65. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -13.55 and a beta of 0.80.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.83) by $0.13. Establishment Labs had a negative return on equity of 196.25% and a negative net margin of 52.34%. The company had revenue of $41.38 million during the quarter, compared to analysts' expectations of $41.15 million. During the same period in the prior year, the business earned ($0.58) earnings per share. Establishment Labs's revenue for the quarter was up 11.3% compared to the same quarter last year. As a group, equities research analysts predict that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $48.00 price target on shares of Establishment Labs in a research report on Friday, June 13th. Mizuho increased their price target on shares of Establishment Labs from $58.00 to $70.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Wall Street Zen raised shares of Establishment Labs from a "sell" rating to a "hold" rating in a research report on Saturday. Citigroup increased their price target on shares of Establishment Labs from $38.00 to $47.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 9th. Finally, BTIG Research assumed coverage on shares of Establishment Labs in a research report on Friday, May 16th. They issued a "buy" rating and a $62.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $54.83.

Establishment Labs Company 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.