Establishment Labs (NASDAQ:ESTA) Trading Down 5.9% – Here’s What Happened

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares dropped 5.9% during trading on Wednesday . The company traded as low as $44.05 and last traded at $43.49. Approximately 151,581 shares changed hands during trading, a decline of 63% from the average daily volume of 410,610 shares. The stock had previously closed at $46.20.

Analyst Ratings Changes

Separately, Stephens reiterated an “overweight” rating and issued a $52.00 target price on shares of Establishment Labs in a research note on Thursday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.40.

Establishment Labs Stock Performance

The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94. The firm has a 50-day moving average of $37.45 and a 200 day moving average of $41.39. The stock has a market capitalization of $1.20 billion, a P/E ratio of -16.16 and a beta of 0.95.

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

Hedge Funds Weigh In On Establishment Labs

Hedge funds have recently modified their holdings of the stock. Quarry LP bought a new stake in Establishment Labs in the fourth quarter valued at $27,000. R Squared Ltd acquired a new stake in shares of Establishment Labs in the 4th quarter valued at $36,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Establishment Labs in the 3rd quarter worth about $127,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Establishment Labs during the 4th quarter worth about $161,000. Finally, Hood River Capital Management LLC lifted its holdings in Establishment Labs by 236.4% during the 4th quarter. Hood River Capital Management LLC now owns 5,920 shares of the company’s stock valued at $273,000 after purchasing an additional 4,160 shares during the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

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.