Establishment Labs (NASDAQ:ESTA) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of Establishment Labs (NASDAQ:ESTA) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Establishment Labs Holdings Inc. is a medical technology company. It focuses on designing, developing, manufacturing and marketing portfolio of silicone gel-filled breast implants ae well as body shaping implants. The company’s brand consists of Motiva Implants(R) and MotivaImagine (R) platform. Its technologies portfolio includes Divina 3D Simulation System(R), Puregraft and MotivaImagine Centers (R). Establishment Labs Holdings Inc. is based in NEW YORK. “

ESTA has been the topic of a number of other research reports. ValuEngine raised Establishment Labs from a hold rating to a buy rating in a report on Monday, July 29th. Wells Fargo & Co set a $29.00 target price on Establishment Labs and gave the company a buy rating in a report on Friday, July 12th. BTIG Research reissued a buy rating and issued a $40.00 target price on shares of Establishment Labs in a report on Thursday, May 16th. Finally, Stephens assumed coverage on Establishment Labs in a report on Thursday, June 6th. They issued an overweight rating and a $37.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Establishment Labs has a consensus rating of Buy and an average target price of $35.33.

Establishment Labs stock opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.94 and a quick ratio of 4.10. Establishment Labs has a one year low of $19.61 and a one year high of $30.70. The stock has a market capitalization of $410.00 million and a PE ratio of -17.86. The business’s fifty day moving average is $22.82 and its 200 day moving average is $24.36.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.08. Establishment Labs had a negative return on equity of 60.43% and a negative net margin of 38.63%. The company had revenue of $21.68 million for the quarter, compared to analysts’ expectations of $20.10 million. As a group, sell-side analysts expect that Establishment Labs will post -1.97 EPS for the current fiscal year.

In other news, major shareholder Jw Asset Management, Llc bought 2,500 shares of the stock in a transaction on Monday, July 29th. The shares were bought at an average price of $25.58 per share, with a total value of $63,950.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Nicholas Sheridan Lewin bought 2,700 shares of the stock in a transaction on Monday, August 19th. The stock was purchased at an average cost of $20.11 per share, for a total transaction of $54,297.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 9,700 shares of company stock worth $222,662. 2.64% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Establishment Labs by 257.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,350 shares of the company’s stock worth $30,000 after buying an additional 972 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Establishment Labs by 96.3% in the second quarter. JPMorgan Chase & Co. now owns 13,014 shares of the company’s stock worth $273,000 after buying an additional 6,386 shares during the period. Vanguard Group Inc. bought a new position in shares of Establishment Labs in the second quarter worth about $349,000. BBR Partners LLC bought a new position in shares of Establishment Labs in the second quarter worth about $445,000. Finally, Wells Fargo & Company MN bought a new position in shares of Establishment Labs in the second quarter worth about $479,000. 25.86% 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 plastic surgery and reconstructive plastic surgery. The company primarily offers silicone gel-filled breast implants under Motiva Implants brand name. It also provides Divina 3D simulation systems to plastic surgeons for use in pre-surgical patient consultations and planning; and distributes Puregraft line of products that is used to remove blood, lipids, and other components from adipose tissue.

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