Establishment Labs (NASDAQ:ESTA) Trading Down 5.1%

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares fell 5.1% during mid-day trading on Monday . The company traded as low as $43.96 and last traded at $44.63. 510,525 shares were traded during trading, an increase of 41% from the average session volume of 362,609 shares. The stock had previously closed at $47.04.

Wall Street Analysts Forecast Growth

ESTA has been the topic of several research analyst reports. Stephens reissued an “overweight” rating and issued a $68.00 price objective on shares of Establishment Labs in a report on Wednesday, August 7th. Citigroup upped their target price on shares of Establishment Labs from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, August 22nd. Mizuho lifted their price target on Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, JPMorgan Chase & Co. dropped their price target on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Establishment Labs has a consensus rating of “Moderate Buy” and a consensus target price of $56.60.

Establishment Labs Price Performance

The stock has a market cap of $1.19 billion, a PE ratio of -14.17 and a beta of 1.20. The company’s 50 day moving average is $43.10 and its 200-day moving average is $47.31. The company has a current ratio of 4.44, a quick ratio of 2.91 and a debt-to-equity ratio of 4.30.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The company had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. The company’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company earned ($0.65) earnings per share. As a group, sell-side analysts predict that Establishment Labs Holdings Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 3,641 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $45.04, for a total transaction of $163,990.64. Following the transaction, the chief executive officer now directly 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 at this link. 11.44% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Establishment Labs

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC acquired a new stake in shares of Establishment Labs in the second quarter valued at $418,000. Lighthouse Investment Partners LLC lifted its position in shares of Establishment Labs by 191.2% in the second quarter. Lighthouse Investment Partners LLC now owns 42,702 shares of the company’s stock worth $1,940,000 after purchasing an additional 28,038 shares in the last quarter. Millennium Management LLC grew its stake in Establishment Labs by 49.8% in the second quarter. Millennium Management LLC now owns 273,605 shares of the company’s stock valued at $12,433,000 after purchasing an additional 90,943 shares in the last quarter. Affinity Asset Advisors LLC raised its holdings in shares of Establishment Labs by 4.1% in the 2nd quarter. Affinity Asset Advisors LLC now owns 223,407 shares of the company’s stock valued at $10,152,000 after purchasing an additional 8,818 shares during the period. Finally, Hood River Capital Management LLC acquired a new position in shares of Establishment Labs in the second quarter valued at $43,000. 72.91% of the stock is currently owned by institutional investors.

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.