Establishment Labs (NASDAQ:ESTA) Trading Down 4.6%

Establishment Labs Holdings Inc. (NASDAQ:ESTA) dropped 4.6% during mid-day trading on Wednesday . The stock traded as low as $40.42 and last traded at $40.82. Approximately 82,333 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 354,574 shares. The stock had previously closed at $42.79.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Citigroup boosted their target price on Establishment Labs from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, August 22nd. Stephens reaffirmed an “overweight” rating and issued a $68.00 target price on shares of Establishment Labs in a report on Wednesday, August 7th. 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 research note on Wednesday, August 7th. Finally, Mizuho lifted their price objective on shares of Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.60.

Establishment Labs Stock Performance

The stock has a 50 day moving average of $43.81 and a two-hundred day moving average of $47.64. The stock has a market capitalization of $1.13 billion, a PE ratio of -13.63 and a beta of 1.20. The company has a debt-to-equity ratio of 4.30, a current ratio of 4.44 and a quick ratio of 2.91.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. The company had revenue of $44.12 million for the quarter, compared to analyst estimates of $43.10 million. During the same period last year, the company earned ($0.65) earnings per share. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. Research analysts expect that Establishment Labs Holdings Inc. will post -2.12 EPS for the current fiscal year.

Insider Activity at Establishment Labs

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 3,866 shares of Establishment Labs stock in a transaction dated Monday, July 8th. The shares were 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 in the company, valued at $9,678,500.30. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold 14,346 shares of company stock valued at $647,806 in the last ninety days. Corporate insiders own 11.44% of the company’s stock.

Hedge Funds Weigh In On Establishment Labs

A number of institutional investors have recently modified their holdings of ESTA. SkyView Investment Advisors LLC acquired a new stake in shares of Establishment Labs during the 2nd quarter worth $418,000. Lighthouse Investment Partners LLC increased its stake in Establishment Labs by 191.2% during the second quarter. Lighthouse Investment Partners LLC now owns 42,702 shares of the company’s stock worth $1,940,000 after acquiring an additional 28,038 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Establishment Labs by 49.8% in the 2nd quarter. Millennium Management LLC now owns 273,605 shares of the company’s stock valued at $12,433,000 after purchasing an additional 90,943 shares in the last quarter. Affinity Asset Advisors LLC grew its holdings in shares of Establishment Labs by 4.1% during the 2nd quarter. Affinity Asset Advisors LLC now owns 223,407 shares of the company’s stock worth $10,152,000 after purchasing an additional 8,818 shares during the period. Finally, Hood River Capital Management LLC purchased a new stake in shares of Establishment Labs during the 2nd quarter worth about $43,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

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.