Establishment Labs (NASDAQ:ESTA) Shares Gap Down – Here’s What Happened

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $31.32, but opened at $30.53. Establishment Labs shares last traded at $31.83, with a volume of 62,015 shares.

Wall Street Analysts Forecast Growth

ESTA has been the subject of a number of analyst reports. Stephens reissued an “overweight” rating and issued a $52.00 price target on shares of Establishment Labs in a report on Thursday, March 6th. Needham & Company LLC began coverage on Establishment Labs in a research report on Monday. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Establishment Labs currently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Establishment Labs Stock Performance

The stock’s 50 day moving average price is $36.51 and its 200 day moving average price is $39.87. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94. The company has a market cap of $870.57 million, a price-to-earnings ratio of -11.70 and a beta of 0.77.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.64) by ($0.34). Establishment Labs had a negative return on equity of 184.55% and a negative net margin of 46.13%. The company had revenue of $44.51 million for the quarter, compared to analysts’ expectations of $44.45 million. On average, analysts expect that Establishment Labs Holdings Inc. will post -2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Establishment Labs

A number of institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Establishment Labs in the 4th quarter worth about $27,000. R Squared Ltd purchased a new position in Establishment Labs in the fourth quarter valued at approximately $36,000. KLP Kapitalforvaltning AS acquired a new position in Establishment Labs during the fourth quarter valued at approximately $161,000. Elevation Point Wealth Partners LLC purchased a new stake in Establishment Labs during the first quarter worth approximately $207,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Establishment Labs in the first quarter worth $234,000. Hedge funds and other institutional investors 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.