Establishment Labs (NASDAQ:ESTA) Sets New 1-Year High – Here’s Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $96.99 and last traded at $95.65, with a volume of 636985 shares changing hands. The stock had previously closed at $93.42.

Analysts Set New Price Targets

ESTA has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Establishment Labs in a report on Wednesday, June 24th. BTIG Research reiterated a “buy” rating on shares of Establishment Labs in a research report on Monday, July 13th. Mizuho raised their target price on shares of Establishment Labs from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Wall Street Zen cut shares of Establishment Labs from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Citigroup boosted their price target on shares of Establishment Labs from $76.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 8th. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.43.

Establishment Labs Price Performance

The stock’s fifty day moving average price is $82.05 and its 200-day moving average price is $72.58. The company has a debt-to-equity ratio of 16.82, a current ratio of 2.96 and a quick ratio of 1.91. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of -61.14 and a beta of 1.06.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.10). The company had revenue of $59.88 million for the quarter, compared to analyst estimates of $57.40 million. Establishment Labs had a negative return on equity of 218.77% and a negative net margin of 19.05%.The business’s revenue for the quarter was up 44.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.70) earnings per share. Equities research analysts predict that Establishment Labs Holdings Inc. will post -1.07 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Quiros Juan Jose Chacon sold 105,000 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $75.42, for a total value of $7,919,100.00. Following the transaction, the director directly owned 927,504 shares in the company, valued at approximately $69,952,351.68. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold a total of 182,180 shares of company stock worth $13,369,722 in the last 90 days. Company insiders own 9.99% of the company’s stock.

Hedge Funds Weigh In On Establishment Labs

A number of hedge funds and other institutional investors have recently made changes to their positions in ESTA. Assenagon Asset Management S.A. grew its position in Establishment Labs by 59.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the company’s stock worth $8,445,000 after acquiring an additional 43,164 shares during the last quarter. Simplify Asset Management Inc. raised its position in Establishment Labs by 92.1% in the 4th quarter. Simplify Asset Management Inc. now owns 72,894 shares of the company’s stock valued at $5,313,000 after purchasing an additional 34,946 shares during the last quarter. AlTi Global Inc. bought a new position in Establishment Labs in the 1st quarter valued at $842,000. Cannon Global Investment Management LLC acquired a new position in Establishment Labs in the first quarter worth $738,000. Finally, Sofinnova Investments Inc. boosted its stake in Establishment Labs by 163.0% in the fourth quarter. Sofinnova Investments Inc. now owns 28,366 shares of the company’s stock worth $2,067,000 after purchasing an additional 17,579 shares in the last quarter. 72.91% of the stock is owned by institutional investors.

About Establishment Labs

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.