Establishment Labs (NASDAQ:ESTA) Share Price Crosses Above Fifty Day Moving Average - Here's Why

Key Points

• Establishment Labs shares rose 4% and moved above their 50-day moving average of $66.26, trading at $67.02.
• Analysts’ consensus is “Moderate Buy,” with an average price target of $95; nine analysts rate the stock Buy and one rates it Sell.
• Quarterly revenue reached $71.99 million, beating estimates and rising 33.8% year over year, while EPS of a $0.35 loss missed the expected $0.26 loss.

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report) shares passed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $66.26 and traded as high as $67.98. Establishment Labs shares last traded at $67.02, with a volume of 321,678 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ESTA. Mizuho upped their target price on Establishment Labs from $100.00 to $105.00 and gave the company an "outperform" rating in a research report on Wednesday, July 15th. TD Cowen cut their price objective on shares of Establishment Labs from $117.00 to $95.00 and set a "buy" rating on the stock in a research note on Monday, October 26th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Establishment Labs in a research report on Monday, September 21st. BTIG Research reduced their price objective on shares of Establishment Labs from $103.00 to $93.00 and set a "buy" rating for the company in a research note on Thursday, October 29th. Finally, Canaccord Genuity Group set a $105.00 target price on shares of Establishment Labs in a research note on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

Establishment Labs Stock Up 4.0%

The business has a 50-day simple moving average of $66.26 and a two-hundred day simple moving average of $72.30. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -52.36 and a beta of 1.03. The company has a debt-to-equity ratio of 12.11, a quick ratio of 2.52 and a current ratio of 3.84.

Establishment Labs (NASDAQ:ESTA - Get Free Report) last announced its quarterly earnings results on Friday, October 30th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). The business had revenue of $71.99 million for the quarter, compared to analyst estimates of $66.81 million. Establishment Labs had a negative return on equity of 185.60% and a negative net margin of 14.56%. The company's revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.38) EPS. As a group, equities analysts predict that Establishment Labs Holdings Inc. will post -1.18 EPS for the current year.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Establishment Labs in the 2nd quarter worth about $135,752,000. William Blair Investment Management LLC purchased a new stake in shares of Establishment Labs during the second quarter worth about $61,273,000. Bank of America Corp DE acquired a new position in shares of Establishment Labs during the second quarter valued at $52,176,000. Rice Hall James & Associates LLC acquired a new position in Establishment Labs in the 2nd quarter worth about $48,134,000. Finally, Nantahala Capital Management LLC bought a new position in Establishment Labs during the second quarter worth about $28,817,572. 72.91% of the stock is currently owned by institutional investors.

Establishment Labs Company Profile

Establishment Labs Holdings Inc is a medical technology company focused on women's health and the breast aesthetics market. The company develops, manufactures and commercializes breast implants and related technologies designed for breast augmentation, reconstruction and revision procedures.

Its product portfolio includes the Motiva line of breast implants, which incorporates the company's proprietary implant materials, surface technologies and design features. Establishment Labs also offers Motiva Flora tissue expanders for use in breast reconstruction and has developed Mia Femtech, a minimally invasive breast enhancement procedure intended to provide a less invasive alternative to traditional augmentation techniques.

Founded in 2004, Establishment Labs is headquartered in Costa Rica and serves physicians, hospitals and patients in international markets.

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