Needham & Company LLC Upgrades Establishment Labs (NASDAQ:ESTA) to Buy

Establishment Labs (NASDAQ:ESTA) was upgraded by Needham & Company LLC from a “hold” rating to a “buy” rating in a research note issued on Wednesday,Benzinga reports. The firm currently has a $48.00 price objective on the stock. Needham & Company LLC’s target price would suggest a potential upside of 37.30% from the company’s previous close.

Separately, Stephens reissued an “overweight” rating and issued a $52.00 price objective on shares of Establishment Labs in a report on Thursday, March 6th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Establishment Labs has a consensus rating of “Moderate Buy” and an average target price of $55.83.

Establishment Labs Trading Up 1.1%

Shares of ESTA opened at $34.96 on Wednesday. The firm has a 50-day moving average price of $34.65 and a 200 day moving average price of $38.41. Establishment Labs has a 12-month low of $26.56 and a 12-month high of $60.12. 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 firm has a market capitalization of $1.01 billion, a P/E ratio of -13.55 and a beta of 0.73.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.13. The business had revenue of $41.38 million for the quarter, compared to the consensus estimate of $41.15 million. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.58) EPS. Sell-side analysts forecast that Establishment Labs will post -2.41 EPS for the current year.

Institutional Investors Weigh In On Establishment Labs

Large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. purchased a new position in Establishment Labs in the 4th quarter valued at $12,898,000. Raymond James Financial Inc. acquired a new position in shares of Establishment Labs during the fourth quarter worth about $5,494,000. Swiss National Bank raised its holdings in Establishment Labs by 2.7% during the fourth quarter. Swiss National Bank now owns 38,500 shares of the company’s stock worth $1,774,000 after purchasing an additional 1,000 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Establishment Labs during the fourth quarter worth about $161,000. Finally, Sei Investments Co. lifted its position in Establishment Labs by 22.3% in the fourth quarter. Sei Investments Co. now owns 42,471 shares of the company’s stock valued at $1,957,000 after purchasing an additional 7,731 shares during the period. 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.