Squarepoint Ops LLC Decreases Stake in Establishment Labs Holdings Inc. $ESTA

Key Points

• Squarepoint Ops LLC cut its Establishment Labs stake by 31.5% in the second quarter, selling 18,751 shares and retaining 40,784 shares valued at approximately $3.5 million. Institutional investors collectively own 72.91% of the company.
• Establishment Labs reported quarterly revenue of $67.54 million, up 31.7% year over year and above estimates, but its $0.39 per-share loss was wider than analysts expected.
• Analysts remain broadly positive, with eight Buy ratings and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $100.25, versus a recent price of $70.94.

Squarepoint Ops LLC lessened its holdings in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA - Free Report) by 31.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,784 shares of the company's stock after selling 18,751 shares during the period. Squarepoint Ops LLC owned 0.14% of Establishment Labs worth $3,500,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ESTA. KBC Group NV purchased a new position in Establishment Labs in the 1st quarter worth approximately $28,000. Quarry LP purchased a new stake in shares of Establishment Labs in the third quarter valued at approximately $34,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Establishment Labs in the second quarter valued at approximately $43,000. Kestra Advisory Services LLC acquired a new stake in shares of Establishment Labs in the fourth quarter valued at approximately $47,000. Finally, Osaic Holdings Inc. increased its holdings in shares of Establishment Labs by 900.0% in the second quarter. Osaic Holdings Inc. now owns 2,000 shares of the company's stock valued at $85,000 after purchasing an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 72.91% of the company's stock.

Establishment Labs Price Performance

Shares of ESTA opened at $70.94 on Friday. Establishment Labs Holdings Inc. has a 1-year low of $36.53 and a 1-year high of $97.59. The stock has a market cap of $2.11 billion, a PE ratio of -54.15 and a beta of 1.05. The firm has a 50-day simple moving average of $81.96 and a two-hundred day simple moving average of $74.81. The company has a debt-to-equity ratio of 12.11, a current ratio of 3.84 and a quick ratio of 2.52.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.05). Establishment Labs had a negative return on equity of 196.69% and a negative net margin of 15.82%.The company had revenue of $67.54 million for the quarter, compared to analysts' expectations of $65.79 million. During the same period in the previous year, the business posted ($0.57) EPS. The business's revenue for the quarter was up 31.7% on a year-over-year basis. As a group, analysts forecast that Establishment Labs Holdings Inc. will post -1.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ESTA shares. Needham & Company LLC boosted their price objective on Establishment Labs from $86.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. raised their target price on Establishment Labs from $84.00 to $95.00 and gave the stock an "overweight" rating in a research note on Friday, August 7th. Citigroup upgraded Establishment Labs from a "neutral" rating to a "buy" rating and set a $92.00 price target on the stock in a report on Thursday, August 13th. Canaccord Genuity Group set a $105.00 price target on shares of Establishment Labs in a research report on Thursday, August 6th. Finally, BTIG Research reissued a "buy" rating and issued a $103.00 price objective on shares of Establishment Labs in a report on Tuesday, September 1st. Eight research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.25.

About Establishment Labs

Establishment Labs Holdings Inc is a medical technology company focused on developing, manufacturing and commercializing products for breast aesthetics and reconstruction. Founded in 2004 and headquartered in Alajuela, Costa Rica, the company serves plastic surgeons, healthcare providers and patients in markets around the world.

Its portfolio is centered on the Motiva line of breast implants, including implants designed for cosmetic augmentation and reconstructive procedures. Establishment Labs also develops related technologies and products, including tissue expanders and surgical systems, as well as Mia Femtech, a minimally invasive breast-enhancement procedure and platform.

The company operates internationally through direct sales and distribution partnerships.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.