Citigroup Cuts Establishment Labs (NASDAQ:ESTA) Price Target to $74.00

Establishment Labs (NASDAQ:ESTA) had its price objective lowered by equities research analysts at Citigroup from $81.00 to $74.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target suggests a potential upside of 12.14% from the company’s current price.

A number of other research analysts also recently commented on the stock. BTIG Research upped their price objective on shares of Establishment Labs from $86.00 to $88.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Canaccord Genuity Group raised their price objective on Establishment Labs from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 26th. Needham & Company LLC lifted their price objective on Establishment Labs from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, February 24th. Wall Street Zen raised shares of Establishment Labs from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Stephens upped their target price on Establishment Labs from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $86.86.

Establishment Labs Price Performance

Establishment Labs stock traded down $0.36 during midday trading on Wednesday, reaching $65.99. 137,408 shares of the company were exchanged, compared to its average volume of 517,331. The firm’s 50-day simple moving average is $70.68 and its 200-day simple moving average is $60.19. Establishment Labs has a 1 year low of $26.56 and a 1 year high of $83.31. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -37.95 and a beta of 0.91. The company has a debt-to-equity ratio of 10.51, a quick ratio of 2.00 and a current ratio of 3.04.

Establishment Labs (NASDAQ:ESTA) last released its earnings results on Tuesday, February 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.13. The company had revenue of $64.62 million for the quarter, compared to analyst estimates of $63.80 million. Establishment Labs had a negative net margin of 24.19% and a negative return on equity of 201.79%. The firm’s quarterly revenue was up 45.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.19) EPS. On average, analysts anticipate that Establishment Labs will post -2.41 EPS for the current year.

Institutional Investors Weigh In On Establishment Labs

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Establishment Labs by 117.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 811,536 shares of the company’s stock worth $59,145,000 after buying an additional 438,206 shares during the period. CenterBook Partners LP bought a new stake in Establishment Labs during the 2nd quarter valued at $16,204,000. Viking Global Investors LP acquired a new position in Establishment Labs during the 2nd quarter worth $14,669,000. Bamco Inc. NY grew its stake in shares of Establishment Labs by 30.2% in the third quarter. Bamco Inc. NY now owns 1,181,824 shares of the company’s stock worth $48,443,000 after purchasing an additional 274,287 shares in the last quarter. Finally, Woodson Capital Management LP increased its holdings in shares of Establishment Labs by 113.3% during the third quarter. Woodson Capital Management LP now owns 480,000 shares of the company’s stock valued at $19,675,000 after purchasing an additional 255,000 shares during the period. Institutional investors own 72.91% of the company’s stock.

Establishment Labs Company Profile

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.