Needham & Company LLC Initiates Coverage on Establishment Labs (NASDAQ:ESTA)

Stock analysts at Needham & Company LLC initiated coverage on shares of Establishment Labs (NASDAQ:ESTA) in a note issued to investors on Monday, MarketBeat.com reports. The firm set a “hold” rating on the stock.

Separately, Stephens restated an “overweight” rating and set a $52.00 price target on shares of Establishment Labs in a research note on Thursday, March 6th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Establishment Labs presently has an average rating of “Moderate Buy” and a consensus target price of $57.40.

Establishment Labs Stock Performance

NASDAQ:ESTA opened at $31.47 on Monday. Establishment Labs has a 12 month low of $26.56 and a 12 month high of $60.12. The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. The firm has a market capitalization of $907.78 million, a PE ratio of -12.20 and a beta of 0.77. The business’s fifty day moving average price is $36.48 and its 200 day moving average price is $39.93.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.34). Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The company had revenue of $44.51 million during the quarter, compared to analysts’ expectations of $44.45 million. On average, sell-side analysts anticipate that Establishment Labs will post -2.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of Establishment Labs by 9,643.3% during the third quarter. Barclays PLC now owns 31,471 shares of the company’s stock worth $1,362,000 after purchasing an additional 31,148 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Establishment Labs by 89.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,351 shares of the company’s stock worth $1,789,000 after acquiring an additional 19,531 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Establishment Labs in the fourth quarter valued at about $12,898,000. HighTower Advisors LLC raised its holdings in Establishment Labs by 32.5% during the third quarter. HighTower Advisors LLC now owns 10,311 shares of the company’s stock worth $446,000 after purchasing an additional 2,529 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Establishment Labs in the fourth quarter valued at about $5,494,000. 72.91% of the stock is currently owned by hedge funds and other 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.