Establishment Labs’ (ESTA) “Buy” Rating Reaffirmed at TD Cowen

Establishment Labs (NASDAQ:ESTA)‘s stock had its “buy” rating reaffirmed by investment analysts at TD Cowen in a research report issued on Thursday, MarketBeat reports. They currently have a $117.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 94.69% from the stock’s previous close.

ESTA has been the topic of a number of other reports. Canaccord Genuity Group set a $105.00 target price on shares of Establishment Labs in a research note on Thursday, August 6th. Needham & Company LLC boosted their price target on shares of Establishment Labs from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. BTIG Research reissued a “buy” rating and issued a $103.00 price objective on shares of Establishment Labs in a research report on Tuesday, September 1st. JPMorgan Chase & Co. raised their price objective on shares of Establishment Labs from $84.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, August 7th. Finally, Citigroup upgraded shares of Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Thursday, August 13th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Establishment Labs presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.56.

Establishment Labs Stock Up 3.8%

Shares of ESTA stock traded up $2.22 during trading on Thursday, reaching $60.10. The company’s stock had a trading volume of 155,675 shares, compared to its average volume of 513,373. Establishment Labs has a 1-year low of $44.26 and a 1-year high of $97.59. The stock’s 50-day moving average price is $70.01 and its 200 day moving average price is $74.43. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -46.08 and a beta of 1.06. The company has a debt-to-equity ratio of 12.11, a current ratio of 3.84 and a quick ratio of 2.52.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The business had revenue of $67.54 million during the quarter, compared to analysts’ expectations of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The business’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the prior year, the business earned ($0.57) EPS. On average, research analysts anticipate that Establishment Labs will post -1.15 EPS for the current year.

Hedge Funds Weigh In On Establishment Labs

Several hedge funds have recently added to or reduced their stakes in ESTA. BlackRock Inc. acquired a new stake in shares of Establishment Labs in the second quarter valued at approximately $135,752,000. William Blair Investment Management LLC purchased a new position in Establishment Labs during the 2nd quarter worth $61,273,000. Bank of America Corp DE purchased a new position in Establishment Labs during the 2nd quarter worth $52,176,000. Rice Hall James & Associates LLC acquired a new position in Establishment Labs in the second quarter valued at $48,134,000. Finally, Nantahala Capital Management LLC purchased a new stake in shares of Establishment Labs in the second quarter valued at about $28,817,572. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

About Establishment Labs

Establishment Labs Holdings Inc (NASDAQ: ESTA) is a medical technology company focused on women’s health and breast aesthetics. The company develops, manufactures and markets medical devices intended for breast augmentation, reconstruction and related procedures.

Its principal product portfolio includes Motiva breast implants, a line of silicone-gel implants designed for aesthetic and reconstructive applications, as well as tissue expanders and other products used in breast surgery. Establishment Labs also offers Mia Femtech, a technology and procedure platform designed to support a less invasive approach to breast augmentation.

Founded in 2004, Establishment Labs is headquartered in Costa Rica and serves healthcare providers and patients in international markets.