Short Interest in Establishment Labs Holdings Inc. (NASDAQ:ESTA) Grows By 14.5%

Establishment Labs Holdings Inc. (NASDAQ:ESTA) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totalling 5,280,000 shares, a growth of 14.5% from the September 30th total of 4,610,000 shares. Based on an average trading volume of 376,600 shares, the days-to-cover ratio is currently 14.0 days. Currently, 23.2% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ESTA shares. Citigroup upped their price target on shares of Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. Stephens restated an “overweight” rating and issued a $68.00 target price on shares of Establishment Labs in a research note 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, BTIG Research increased their price objective on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.83.

Establishment Labs Stock Down 0.9 %

Shares of ESTA traded down $0.39 during mid-day trading on Thursday, hitting $44.58. The company’s stock had a trading volume of 98,189 shares, compared to its average volume of 373,407. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -14.46 and a beta of 1.20. The company’s 50-day moving average is $43.21 and its 200-day moving average is $46.07. The company has a current ratio of 4.44, a quick ratio of 2.91 and a debt-to-equity ratio of 4.30. Establishment Labs has a 52-week low of $16.96 and a 52-week high of $60.12.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.62) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.10 million. Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. Establishment Labs’s revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.65) earnings per share. On average, equities research analysts forecast that Establishment Labs will post -2.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets increased its stake in Establishment Labs by 32,968.7% during the 1st quarter. BNP Paribas Financial Markets now owns 97,222 shares of the company’s stock valued at $4,949,000 after purchasing an additional 96,928 shares in the last quarter. Swiss National Bank raised its stake in shares of Establishment Labs by 13.6% in the first quarter. Swiss National Bank now owns 37,500 shares of the company’s stock worth $1,909,000 after purchasing an additional 4,500 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new stake in shares of Establishment Labs during the first quarter worth about $263,000. William Blair Investment Management LLC acquired a new stake in shares of Establishment Labs during the first quarter worth about $21,415,000. Finally, Vanguard Group Inc. boosted its position in Establishment Labs by 11.8% in the first quarter. Vanguard Group Inc. now owns 77,798 shares of the company’s stock valued at $3,960,000 after buying an additional 8,210 shares during the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

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.