Establishment Labs (NASDAQ:ESTA) Trading Down 6% – Here’s Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s stock price was down 6% during mid-day trading on Tuesday . The company traded as low as $31.14 and last traded at $31.69. Approximately 738,442 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 956,751 shares. The stock had previously closed at $33.71.

Analysts Set New Price Targets

A number of brokerages have commented on ESTA. Citigroup boosted their target price on shares of Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 1st. BTIG Research raised their target price on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Stephens upgraded shares of Establishment Labs to a “strong-buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Establishment Labs has an average rating of “Buy” and an average target price of $60.60.

Establishment Labs Price Performance

The stock’s 50-day moving average price is $43.20 and its 200 day moving average price is $43.47. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94. The firm has a market capitalization of $969.92 million, a price-to-earnings ratio of -13.43 and a beta of 1.15.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hood River Capital Management LLC acquired a new position in shares of Establishment Labs during the 2nd quarter valued at about $43,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Establishment Labs during the 3rd quarter valued at approximately $127,000. Nkcfo LLC acquired a new position in Establishment Labs in the second quarter valued at approximately $227,000. Black Swift Group LLC purchased a new position in Establishment Labs in the third quarter worth approximately $312,000. Finally, Verition Fund Management LLC increased its stake in Establishment Labs by 22.8% during the third quarter. Verition Fund Management LLC now owns 9,400 shares of the company’s stock worth $407,000 after acquiring an additional 1,746 shares during the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

Establishment Labs Company Profile

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.