Simplify Asset Management Inc. Takes Position in Establishment Labs Holdings Inc. $ESTA

Simplify Asset Management Inc. purchased a new position in Establishment Labs Holdings Inc. (NASDAQ:ESTA) in the 3rd quarter, HoldingsChannel reports. The firm purchased 37,948 shares of the company’s stock, valued at approximately $1,555,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ESTA. Raymond James Financial Inc. boosted its holdings in shares of Establishment Labs by 0.4% in the 1st quarter. Raymond James Financial Inc. now owns 119,752 shares of the company’s stock worth $4,886,000 after purchasing an additional 491 shares during the period. Nantahala Capital Management LLC lifted its position in Establishment Labs by 7.2% in the first quarter. Nantahala Capital Management LLC now owns 1,774,044 shares of the company’s stock worth $72,390,000 after buying an additional 119,574 shares during the last quarter. Vestal Point Capital LP boosted its stake in Establishment Labs by 44.4% during the first quarter. Vestal Point Capital LP now owns 433,193 shares of the company’s stock worth $17,676,000 after buying an additional 133,193 shares during the period. First Light Asset Management LLC bought a new position in Establishment Labs during the first quarter valued at $13,746,000. Finally, Redmile Group LLC raised its stake in shares of Establishment Labs by 4.8% in the first quarter. Redmile Group LLC now owns 335,366 shares of the company’s stock valued at $13,685,000 after acquiring an additional 15,217 shares during the period. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

Establishment Labs Trading Down 4.6%

ESTA opened at $72.92 on Tuesday. The company has a quick ratio of 2.10, a current ratio of 3.33 and a debt-to-equity ratio of 15.06. The stock’s fifty day moving average is $65.31 and its two-hundred day moving average is $49.47. The company has a market capitalization of $2.12 billion, a P/E ratio of -25.68 and a beta of 1.01. Establishment Labs Holdings Inc. has a 52 week low of $26.56 and a 52 week high of $78.24.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly earnings results on Wednesday, November 5th. The company reported ($0.38) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.16. The business had revenue of $53.78 million for the quarter, compared to the consensus estimate of $52.28 million. Establishment Labs had a negative return on equity of 235.45% and a negative net margin of 43.45%.The business’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.59) EPS. Analysts forecast that Establishment Labs Holdings Inc. will post -2.41 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of Establishment Labs from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Needham & Company LLC upped their target price on Establishment Labs from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. JPMorgan Chase & Co. boosted their price objective on Establishment Labs from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Canaccord Genuity Group upped their price objective on Establishment Labs from $72.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, December 17th. Finally, Mizuho boosted their target price on shares of Establishment Labs from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.14.

About Establishment Labs

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.