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Establishment Labs (NASDAQ:ESTA) Trading Down 3.7% - Here's Why


Establishment Labs (NASDAQ:ESTA) Trading Down 3.7%  - Here's Why

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report) shares were down 3.7% during trading on Thursday . The stock traded as low as $40.79 and last traded at $40.88. Approximately 100,327 shares traded hands during trading, a decline of 74% from the average daily volume of 385,940 shares. The stock had previously closed at $42.46.

ESTA has been the subject of several recent research reports. Citigroup increased their price target on Establishment Labs from $45.00 to $50.00 and gave the company a "neutral" rating in a research note on Tuesday, October 1st. Stephens upgraded shares of Establishment Labs to a "strong-buy" rating in a research report on Monday, December 2nd. Finally, BTIG Research increased their price objective on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $60.60.

Check Out Our Latest Analysis on Establishment Labs

The company's 50-day moving average is $43.68 and its two-hundred day moving average is $43.94. The firm has a market cap of $1.10 billion, a P/E ratio of -15.22 and a beta of 1.16. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTA. First Turn Management LLC bought a new position in shares of Establishment Labs during the 2nd quarter worth approximately $16,812,000. Sofinnova Investments Inc. lifted its holdings in Establishment Labs by 204.1% during the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company's stock worth $19,505,000 after acquiring an additional 288,082 shares during the period. Divisadero Street Capital Management LP purchased a new position in Establishment Labs in the second quarter worth $5,829,000. Millennium Management LLC increased its position in shares of Establishment Labs by 49.8% during the 2nd quarter. Millennium Management LLC now owns 273,605 shares of the company's stock valued at $12,433,000 after purchasing an additional 90,943 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of Establishment Labs by 10.7% during the 3rd quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company's stock worth $34,326,000 after purchasing an additional 76,959 shares during the period. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

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