Establishment Labs’ (ESTA) “Buy” Rating Reiterated at TD Cowen

TD Cowen reaffirmed their buy rating on shares of Establishment Labs (NASDAQ:ESTA) in a research note issued to investors on Thursday, Marketbeat.com reports. TD Cowen currently has a $117.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. Citigroup raised shares of Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Thursday, August 13th. Needham & Company LLC lifted their price target on shares of Establishment Labs from $86.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price target on shares of Establishment Labs from $84.00 to $95.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. BTIG Research restated a “buy” rating and set a $103.00 price objective on shares of Establishment Labs in a research report on Tuesday, September 1st. Finally, Stifel Nicolaus set a $85.00 price objective on Establishment Labs and gave the company a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $98.56.

Establishment Labs Stock Down 3.6%

NASDAQ ESTA opened at $59.18 on Thursday. Establishment Labs has a 12 month low of $45.39 and a 12 month high of $97.59. The company has a current ratio of 3.84, a quick ratio of 2.52 and a debt-to-equity ratio of 12.11. The stock has a market cap of $1.76 billion, a PE ratio of -45.18 and a beta of 1.06. The stock’s 50 day moving average is $69.29 and its 200 day moving average is $74.36.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The company had revenue of $67.54 million for the quarter, compared to analysts’ expectations of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The company’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business earned ($0.57) earnings per share. Research analysts predict that Establishment Labs will post -1.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue acquired a new stake in shares of Establishment Labs during the 3rd quarter worth about $80,000. Engineers Gate Manager LP boosted its stake in Establishment Labs by 7.5% during the 2nd quarter. Engineers Gate Manager LP now owns 31,458 shares of the company’s stock worth $2,699,000 after purchasing an additional 2,191 shares during the period. Integrated Wealth Concepts LLC purchased a new position in shares of Establishment Labs during the second quarter worth about $32,000. NewEdge Advisors LLC grew its stake in shares of Establishment Labs by 34.9% in the 2nd quarter. NewEdge Advisors LLC now owns 13,871 shares of the company’s stock valued at $1,190,000 after purchasing an additional 3,587 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Establishment Labs by 5.6% in the 2nd quarter. Arizona State Retirement System now owns 5,057 shares of the company’s stock valued at $434,000 after buying an additional 268 shares during the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

About Establishment Labs

Establishment Labs Holdings Inc (NASDAQ: ESTA) is a medical technology company focused on women’s health and breast aesthetics. The company develops, manufactures and markets medical devices intended for breast augmentation, reconstruction and related procedures.

Its principal product portfolio includes Motiva breast implants, a line of silicone-gel implants designed for aesthetic and reconstructive applications, as well as tissue expanders and other products used in breast surgery. Establishment Labs also offers Mia Femtech, a technology and procedure platform designed to support a less invasive approach to breast augmentation.

Founded in 2004, Establishment Labs is headquartered in Costa Rica and serves healthcare providers and patients in international markets.