Establishment Labs (NASDAQ:ESTA) Trading Down 3.7% – Here’s Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares were down 3.7% during trading on Thursday . The stock traded as low as $40.79 and last traded at $40.88. Approximately 100,327 shares traded hands during trading, a decline of 74% from the average daily volume of 385,940 shares. The stock had previously closed at $42.46.

Analyst Upgrades and Downgrades

ESTA has been the subject of several recent research reports. Citigroup increased their price target on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Stephens upgraded shares of Establishment Labs to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, BTIG Research increased their price objective on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $60.60.

Establishment Labs Stock Performance

The company’s 50-day moving average is $43.68 and its two-hundred day moving average is $43.94. The firm has a market cap of $1.10 billion, a P/E ratio of -15.22 and a beta of 1.16. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTA. First Turn Management LLC bought a new position in shares of Establishment Labs during the 2nd quarter worth approximately $16,812,000. Sofinnova Investments Inc. lifted its holdings in Establishment Labs by 204.1% during the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock worth $19,505,000 after acquiring an additional 288,082 shares during the period. Divisadero Street Capital Management LP purchased a new position in Establishment Labs in the second quarter worth $5,829,000. Millennium Management LLC increased its position in shares of Establishment Labs by 49.8% during 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 during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of Establishment Labs by 10.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company’s stock worth $34,326,000 after purchasing an additional 76,959 shares during the period. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

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.