Establishment Labs (NASDAQ:ESTA) Reaches New 1-Year Low – Here’s What Happened

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s stock price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $29.87 and last traded at $31.03, with a volume of 104635 shares traded. The stock had previously closed at $32.05.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BTIG Research lifted their price target on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Stephens raised shares of Establishment Labs to a “strong-buy” rating in a research note on Monday, December 2nd. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $60.60.

Establishment Labs Price Performance

The stock has a market cap of $863.38 million, a PE ratio of -11.95 and a beta of 1.12. The business’s 50-day simple moving average is $41.64 and its 200-day simple moving average is $42.62. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.59) earnings per share for the quarter, beating the consensus estimate of ($0.61) by $0.02. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The business had revenue of $40.23 million for the quarter, compared to analysts’ expectations of $40.60 million. During the same quarter in the previous year, the business posted ($1.12) earnings per share. On average, research analysts expect that Establishment Labs Holdings Inc. will post -2.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Establishment Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sei Investments Co. lifted its position in Establishment Labs by 634.5% during the 2nd quarter. Sei Investments Co. now owns 40,576 shares of the company’s stock valued at $1,844,000 after acquiring an additional 35,052 shares during the period. Millennium Management LLC increased its position in 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 buying an additional 90,943 shares in the last quarter. Rice Hall James & Associates LLC grew its stake in shares of Establishment Labs by 10.7% in the third quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company’s stock worth $34,326,000 after acquiring an additional 76,959 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Establishment Labs by 2.5% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 248,435 shares of the company’s stock worth $10,750,000 after purchasing an additional 6,050 shares during the last quarter. Finally, Black Swift Group LLC bought a new stake in Establishment Labs during the 3rd quarter valued at about $312,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

About Establishment Labs

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.