Establishment Labs (NASDAQ:ESTA) Given “Buy” Rating at TD Cowen

Establishment Labs (NASDAQ:ESTA)‘s stock had its “buy” rating reiterated by stock analysts at TD Cowen in a research report issued on Thursday, Benzinga reports. They currently have a $117.00 price objective on the stock. TD Cowen’s price objective would suggest a potential upside of 94.12% from the stock’s current price.

Several other equities research analysts have also issued reports on the stock. Mizuho lifted their price target on shares of Establishment Labs from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Canaccord Genuity Group set a $105.00 price target on shares of Establishment Labs in a research note on Thursday, August 6th. Citigroup upgraded shares of Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Thursday, August 13th. Stifel Nicolaus set a $85.00 price target on shares of Establishment Labs and gave the company a “buy” rating in a research note on Wednesday. Finally, BTIG Research reiterated a “buy” rating and issued a $103.00 price target on shares of Establishment Labs in a research note on Tuesday, September 1st. Nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $98.56.

Establishment Labs Stock Up 4.1%

Shares of ESTA stock traded up $2.39 on Thursday, hitting $60.27. 27,650 shares of the stock were exchanged, compared to its average volume of 512,636. The company has a current ratio of 3.84, a quick ratio of 2.52 and a debt-to-equity ratio of 12.11. The firm has a market capitalization of $1.80 billion, a P/E ratio of -46.01 and a beta of 1.06. The business has a 50-day moving average of $70.01 and a 200 day moving average of $74.43. Establishment Labs has a fifty-two week low of $44.26 and a fifty-two week high of $97.59.

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

Institutional Investors Weigh In On Establishment Labs

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its position in shares of Establishment Labs by 164.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 135,897 shares of the company’s stock valued at $11,661,000 after acquiring an additional 84,592 shares during the period. William Blair Investment Management LLC bought a new position in shares of Establishment Labs in the 2nd quarter valued at about $61,273,000. Bank of America Corp DE raised its stake in Establishment Labs by 56.7% in the 1st quarter. Bank of America Corp DE now owns 416,840 shares of the company’s stock valued at $23,668,000 after acquiring an additional 150,797 shares during the period. Bank of New York Mellon Corp bought a new stake in Establishment Labs in the 2nd quarter valued at $5,848,000. Finally, Tejara Capital Ltd bought a new stake in Establishment Labs in the 2nd quarter valued at $11,239,000. 72.91% of the stock is currently owned by institutional investors and hedge funds.

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.