Zacks Investment Research Lowers Establishment Labs (NASDAQ:ESTA) to Sell

Establishment Labs (NASDAQ:ESTA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Establishment Labs Holdings Inc. is a medical technology company. It focuses on designing, developing, manufacturing and marketing portfolio of silicone gel-filled breast implants ae well as body shaping implants. The company’s brand consists of Motiva Implants(R) and MotivaImagine (R) platform. Its technologies portfolio includes Divina 3D Simulation System(R), Puregraft and MotivaImagine Centers (R). Establishment Labs Holdings Inc. is based in NEW YORK. “

Separately, ValuEngine lowered Establishment Labs from a “buy” rating to a “hold” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.50.

Shares of Establishment Labs stock traded down $0.46 during trading hours on Tuesday, reaching $28.03. 95,100 shares of the company’s stock were exchanged, compared to its average volume of 108,756. Establishment Labs has a 52-week low of $16.55 and a 52-week high of $30.06. The firm has a market capitalization of $591.65 million, a price-to-earnings ratio of -25.03 and a beta of 0.57. The company has a fifty day moving average of $26.35 and a 200-day moving average of $22.32. The company has a current ratio of 4.81, a quick ratio of 3.52 and a debt-to-equity ratio of 1.09.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings results on Tuesday, November 12th. 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 75.10% and a negative net margin of 52.76%. The business had revenue of $22.85 million for the quarter, compared to analysts’ expectations of $20.00 million. On average, equities research analysts anticipate that Establishment Labs will post -2.12 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in Establishment Labs by 257.1% during the second quarter. Tower Research Capital LLC TRC now owns 1,350 shares of the company’s stock worth $30,000 after purchasing an additional 972 shares in the last quarter. Berkshire Asset Management LLC PA acquired a new stake in shares of Establishment Labs during the 3rd quarter worth about $218,000. JPMorgan Chase & Co. lifted its stake in shares of Establishment Labs by 96.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,014 shares of the company’s stock worth $273,000 after buying an additional 6,386 shares during the last quarter. Vanguard Group Inc. acquired a new stake in shares of Establishment Labs during the 2nd quarter worth about $349,000. Finally, BBR Partners LLC acquired a new stake in shares of Establishment Labs during the 2nd quarter worth about $445,000. 43.72% of the stock is currently owned by institutional investors and hedge funds.

About Establishment Labs

Establishment Labs Holdings Inc, a medical technology company, manufactures and markets medical devices for aesthetic plastic surgery and reconstructive plastic surgery. The company primarily offers silicone gel-filled breast implants under Motiva Implants brand name. It also provides Divina 3D simulation systems to plastic surgeons for use in pre-surgical patient consultations and planning; and distributes Puregraft line of products that is used to remove blood, lipids, and other components from adipose tissue.

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