Ameriprise Financial Inc. Trims Stock Position in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Ameriprise Financial Inc. reduced its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 91,652 shares of the company’s stock after selling 6,241 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.33% of Establishment Labs worth $4,222,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ESTA. Capital Research Global Investors boosted its holdings in shares of Establishment Labs by 29.3% during the 4th quarter. Capital Research Global Investors now owns 1,911,525 shares of the company’s stock valued at $88,064,000 after buying an additional 433,484 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Establishment Labs by 7,249.5% during the 4th quarter. Voya Investment Management LLC now owns 408,262 shares of the company’s stock valued at $18,809,000 after buying an additional 402,707 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Establishment Labs by 44.1% during the 4th quarter. William Blair Investment Management LLC now owns 812,825 shares of the company’s stock valued at $37,447,000 after buying an additional 248,888 shares in the last quarter. Boothbay Fund Management LLC boosted its holdings in shares of Establishment Labs by 68.8% during the 4th quarter. Boothbay Fund Management LLC now owns 525,248 shares of the company’s stock valued at $24,198,000 after buying an additional 214,119 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in shares of Establishment Labs during the 4th quarter valued at $7,261,000. Institutional investors own 72.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ESTA shares. Wall Street Zen cut shares of Establishment Labs from a “hold” rating to a “sell” rating in a report on Thursday. Needham & Company LLC upgraded shares of Establishment Labs from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, May 14th. Stephens reissued an “overweight” rating and set a $52.00 price objective on shares of Establishment Labs in a research report on Thursday, March 6th. Finally, BTIG Research assumed coverage on shares of Establishment Labs in a report on Friday, May 16th. They issued a “buy” rating and a $62.00 target price for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.33.

Establishment Labs Price Performance

Shares of NASDAQ ESTA opened at $36.62 on Monday. Establishment Labs Holdings Inc. has a twelve month low of $26.56 and a twelve month high of $58.00. The firm has a market cap of $1.06 billion, a P/E ratio of -14.19 and a beta of 0.73. The company has a 50 day moving average of $34.33 and a 200 day moving average of $37.80. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94.

Establishment Labs (NASDAQ:ESTA) last posted its earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.83) by $0.13. The business had revenue of $41.38 million for the quarter, compared to analysts’ expectations of $41.15 million. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The business’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.58) EPS. As a group, research analysts expect that Establishment Labs Holdings Inc. will post -2.41 EPS for the current fiscal year.

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.