Establishment Labs (NASDAQ:ESTA) Posts Quarterly Earnings Results

Establishment Labs (NASDAQ:ESTA) announced its quarterly earnings data on Tuesday. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11), Briefing.com reports. Establishment Labs had a negative return on equity of 206.05% and a negative net margin of 53.12%. The company had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.10 million. During the same quarter in the prior year, the company earned ($0.65) EPS. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. Establishment Labs updated its FY 2024 guidance to EPS.

Establishment Labs Stock Performance

ESTA traded up $2.50 on Friday, reaching $41.49. The company had a trading volume of 724,111 shares, compared to its average volume of 381,092. The stock has a market cap of $1.14 billion, a P/E ratio of -13.21 and a beta of 1.24. The company has a debt-to-equity ratio of 3.38, a quick ratio of 2.73 and a current ratio of 4.24. Establishment Labs has a fifty-two week low of $16.96 and a fifty-two week high of $61.40. The company’s fifty day moving average is $45.05 and its 200 day moving average is $46.57.

Wall Street Analysts Forecast Growth

ESTA has been the subject of a number of recent analyst reports. Citigroup cut their price target on shares of Establishment Labs from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Stephens reiterated an “overweight” rating and set a $68.00 price target on shares of Establishment Labs in a report on Wednesday. JPMorgan Chase & Co. lowered their price target on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Mizuho raised their price objective on Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Establishment Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $57.60.

Insiders Place Their Bets

In other news, CEO Quiros Juan Jose Chacon sold 3,641 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $45.04, for a total value of $163,990.64. Following the transaction, the chief executive officer now owns 210,735 shares of the company’s stock, valued at $9,491,504.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 14,346 shares of company stock worth $647,806 over the last three months. Insiders own 11.44% of the company’s stock.

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.