Establishment Labs (NASDAQ:ESTA) Shares Gap Up to $41.19

Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) gapped up prior to trading on Friday . The stock had previously closed at $41.19, but opened at $49.61. Establishment Labs shares last traded at $47.23, with a volume of 710,280 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on ESTA. Stephens reissued an “overweight” rating and issued a $68.00 price objective on shares of Establishment Labs in a research report on Wednesday, August 7th. Mizuho upped their price target on shares of Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Citigroup boosted their price objective on shares of Establishment Labs from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. Finally, JPMorgan Chase & Co. cut their target price on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research report 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. Based on data from MarketBeat, Establishment Labs currently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Establishment Labs Price Performance

The company has a market cap of $1.29 billion, a PE ratio of -14.98 and a beta of 1.20. The business’s 50 day moving average price is $43.10 and its 200-day moving average price is $47.35. The company has a quick ratio of 2.91, a current ratio of 4.44 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) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.11). Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. The business had revenue of $44.12 million for the quarter, compared to analyst estimates of $43.10 million. During the same quarter in the prior year, the business earned ($0.65) earnings per share. The firm’s revenue was down 9.2% on a year-over-year basis. As a group, analysts forecast that Establishment Labs Holdings Inc. will post -2.2 earnings per share for the current year.

Insider Buying and Selling at Establishment Labs

In other news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $45.01, for a total transaction of $174,008.66. Following the transaction, the chief executive officer now owns 215,030 shares of the company’s stock, valued at $9,678,500.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold 14,346 shares of company stock worth $647,806 in the last ninety days. 11.44% of the stock is owned by insiders.

Institutional Investors Weigh In On Establishment Labs

A number of institutional investors have recently modified their holdings of the business. Hood River Capital Management LLC bought a new position in shares of Establishment Labs during the second quarter worth about $43,000. Nkcfo LLC bought a new stake in Establishment Labs during the 2nd quarter valued at $227,000. Concurrent Investment Advisors LLC bought a new position in shares of Establishment Labs in the first quarter worth $263,000. SG Americas Securities LLC acquired a new position in shares of Establishment Labs during the second quarter valued at $303,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Establishment Labs during the second quarter valued at about $373,000. Institutional investors own 72.91% 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.