Bay Colony Advisory Group Inc d b a Bay Colony Advisors Acquires New Shares in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,199 shares of the company’s stock, valued at approximately $373,000.

Other hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. increased its position in Establishment Labs by 63.9% in the 4th quarter. Brown Advisory Inc. now owns 2,428,792 shares of the company’s stock valued at $62,881,000 after acquiring an additional 946,612 shares during the period. Capital Research Global Investors acquired a new stake in Establishment Labs in the first quarter valued at $45,888,000. Fourth Sail Capital LP bought a new position in Establishment Labs during the 4th quarter worth $14,473,000. William Blair Investment Management LLC bought a new position in Establishment Labs during the 1st quarter worth $21,415,000. Finally, Redmile Group LLC acquired a new position in Establishment Labs during the 1st quarter worth about $5,820,000. 72.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ESTA has been the subject of a number of recent analyst reports. Stephens reissued an “overweight” rating and set a $68.00 target price on shares of Establishment Labs in a research report on Wednesday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Mizuho increased their price objective on shares of Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Finally, Citigroup increased their price objective on shares of Establishment Labs from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.60.

Insiders Place Their Bets

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $45.01, for a total value of $174,008.66. Following the completion of the sale, the chief executive officer now directly owns 215,030 shares in the company, valued at $9,678,500.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders sold 14,346 shares of company stock worth $647,806. 11.44% of the stock is currently owned by company insiders.

Establishment Labs Stock Up 4.8 %

NASDAQ:ESTA traded up $2.06 during trading hours on Friday, reaching $45.39. The company had a trading volume of 58,227 shares, compared to its average volume of 368,063. The company has a quick ratio of 2.73, a current ratio of 4.24 and a debt-to-equity ratio of 3.38. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -13.80 and a beta of 1.24. The business’s 50-day simple moving average is $43.68 and its two-hundred day simple moving average is $46.95. Establishment Labs Holdings Inc. has a twelve month low of $16.96 and a twelve month high of $61.40.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The company had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.10 million. Establishment Labs had a negative return on equity of 206.05% and a negative net margin of 53.12%. The company’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.65) earnings per share. On average, equities analysts expect that Establishment Labs Holdings Inc. will post -1.79 earnings per share for the current year.

Establishment Labs Profile

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.