Sofinnova Investments Inc. Purchases 288,082 Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Sofinnova Investments Inc. lifted its position in Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 204.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 429,244 shares of the company’s stock after purchasing an additional 288,082 shares during the period. Establishment Labs comprises 1.0% of Sofinnova Investments Inc.’s portfolio, making the stock its 27th largest holding. Sofinnova Investments Inc. owned approximately 1.56% of Establishment Labs worth $19,505,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Concurrent Investment Advisors LLC bought a new stake in Establishment Labs during the first quarter valued at about $263,000. SG Americas Securities LLC purchased a new position in Establishment Labs in the 2nd quarter worth approximately $303,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Establishment Labs in the 2nd quarter worth approximately $373,000. Principal Financial Group Inc. bought a new position in Establishment Labs in the 2nd quarter worth approximately $593,000. Finally, Bayesian Capital Management LP purchased a new stake in Establishment Labs during the 1st quarter valued at approximately $631,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Establishment Labs Price Performance

ESTA stock opened at $44.66 on Tuesday. Establishment Labs Holdings Inc. has a 52 week low of $16.96 and a 52 week high of $60.12. The firm has a market capitalization of $1.23 billion, a P/E ratio of -14.22 and a beta of 1.20. The company has a fifty day simple moving average of $43.74 and a two-hundred day simple moving average of $47.70. The company has a quick ratio of 2.91, a current ratio of 4.44 and a debt-to-equity ratio of 4.30.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. The business had revenue of $44.12 million during the quarter, compared to the consensus estimate of $43.10 million. During the same period in the previous year, the business posted ($0.65) EPS. The firm’s revenue was down 9.2% on a year-over-year basis. Analysts anticipate that Establishment Labs Holdings Inc. will post -2.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ESTA has been the topic of several research analyst reports. Citigroup boosted their target price on shares of Establishment Labs from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 22nd. Mizuho increased their price objective on shares of Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 6th. Stephens reaffirmed an “overweight” rating and issued a $68.00 target price on shares of Establishment Labs in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Insider Transactions at Establishment Labs

In related news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction 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 sale, the chief executive officer now owns 215,030 shares in the company, valued at approximately $9,678,500.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders sold 14,346 shares of company stock worth $647,806. 11.44% of the stock is currently owned by company insiders.

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.