Establishment Labs (NASDAQ:ESTA) Posts Earnings Results

Establishment Labs (NASDAQ:ESTA) released its quarterly earnings results on Wednesday. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.07, Briefing.com reports. The business had revenue of $37.17 million during the quarter, compared to the consensus estimate of $35.61 million. Establishment Labs had a negative return on equity of 357.81% and a negative net margin of 47.53%. The business’s quarterly revenue was down 20.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.48) EPS. Establishment Labs updated its FY 2024 guidance to EPS.

Establishment Labs Price Performance

ESTA stock traded up $5.58 during midday trading on Thursday, hitting $56.83. The company’s stock had a trading volume of 670,128 shares, compared to its average volume of 408,826. Establishment Labs has a 12 month low of $16.96 and a 12 month high of $73.00. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 10.26. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -18.57 and a beta of 1.23. The company has a 50 day moving average of $50.27 and a two-hundred day moving average of $37.38.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ESTA shares. JPMorgan Chase & Co. boosted their price target on Establishment Labs from $46.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Mizuho boosted their price objective on Establishment Labs from $50.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Citigroup boosted their price objective on Establishment Labs from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, Stephens reiterated an “overweight” rating and set a $47.00 price objective on shares of Establishment Labs in a research note on Thursday, January 11th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $55.00.

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.