Stephens Reiterates “Overweight” Rating for Establishment Labs (NASDAQ:ESTA)

Stephens reissued their overweight rating on shares of Establishment Labs (NASDAQ:ESTA) in a research note published on Wednesday morning, Benzinga reports. The firm currently has a $68.00 target price on the stock.

A number of other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Establishment Labs from $61.00 to $50.00 and set an overweight rating for the company in a report on Wednesday. Mizuho increased their price objective on shares of Establishment Labs from $65.00 to $70.00 and gave the stock a buy rating in a research note on Thursday, June 6th. Finally, Citigroup reduced their price target on Establishment Labs from $60.00 to $50.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Establishment Labs presently has a consensus rating of Moderate Buy and an average target price of $57.60.

Establishment Labs Stock Up 10.0 %

Shares of ESTA traded up $3.54 during midday trading on Wednesday, hitting $39.10. 222,110 shares of the company’s stock traded hands, compared to its average volume of 377,631. Establishment Labs has a 1 year low of $16.96 and a 1 year high of $62.16. The firm’s fifty day moving average is $45.30 and its 200-day moving average is $46.62. The company has a current ratio of 4.24, a quick ratio of 2.73 and a debt-to-equity ratio of 3.38. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of -12.17 and a beta of 1.24.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Establishment Labs had a negative net margin of 53.12% and a negative return on equity of 206.05%. The business had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. During the same quarter in the prior year, the company posted ($0.65) EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Establishment Labs will post -1.79 earnings per share for the current year.

Insider Buying and Selling at Establishment Labs

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $45.01, for a total transaction of $174,008.66. Following the completion of the transaction, the chief executive officer now owns 215,030 shares of the company’s stock, valued at $9,678,500.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 14,346 shares of company stock valued at $647,806 over the last quarter. 11.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Establishment Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Establishment Labs by 67.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,591 shares of the company’s stock worth $119,000 after acquiring an additional 1,845 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Establishment Labs during the fourth quarter worth $120,000. Concurrent Investment Advisors LLC acquired a new stake in Establishment Labs during the first quarter worth $263,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in Establishment Labs during the second quarter worth $373,000. Finally, Principal Financial Group Inc. purchased a new position in shares of Establishment Labs during the second quarter worth $593,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

About Establishment Labs

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.