Establishment Labs’ (ESTA) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of Establishment Labs (NASDAQ:ESTA) in a report released on Tuesday morning,Benzinga reports. BTIG Research currently has a $103.00 target price on the stock.

A number of other research analysts also recently issued reports on ESTA. Mizuho upped their price objective on Establishment Labs from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Citigroup upgraded Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 target price on the stock in a research note on Thursday, August 13th. Canaccord Genuity Group set a $105.00 price target on shares of Establishment Labs in a report on Thursday, August 6th. JPMorgan Chase & Co. increased their price target on shares of Establishment Labs from $84.00 to $95.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, Needham & Company LLC increased their price target on shares of Establishment Labs from $86.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $100.25.

Establishment Labs Price Performance

Shares of NASDAQ ESTA opened at $72.30 on Tuesday. Establishment Labs has a twelve month low of $36.53 and a twelve month high of $97.59. The stock’s 50 day moving average price is $83.74 and its 200-day moving average price is $74.89. The company has a market capitalization of $2.15 billion, a PE ratio of -55.19 and a beta of 1.05. The company has a quick ratio of 2.52, a current ratio of 3.84 and a debt-to-equity ratio of 12.11.

Establishment Labs (NASDAQ:ESTA) last released its earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The business had revenue of $67.54 million during the quarter, compared to the consensus estimate of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.57) earnings per share. On average, equities analysts anticipate that Establishment Labs will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Establishment Labs

A number of large investors have recently modified their holdings of the company. California State Teachers Retirement System grew its stake in Establishment Labs by 8,625.7% during the second quarter. California State Teachers Retirement System now owns 1,930,124 shares of the company’s stock valued at $165,624,000 after acquiring an additional 1,908,004 shares in the last quarter. BlackRock Inc. purchased a new stake in Establishment Labs in the 2nd quarter worth approximately $135,752,000. William Blair Investment Management LLC bought a new position in Establishment Labs in the 2nd quarter valued at $61,273,000. Bank of America Corp DE bought a new position in Establishment Labs in the 2nd quarter valued at $52,176,000. Finally, Rice Hall James & Associates LLC bought a new position in Establishment Labs in the 2nd quarter valued at $48,134,000. 72.91% of the stock is currently owned by institutional investors.

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.