Establishment Labs (NASDAQ:ESTA) Shares Down 3.7% – Here’s Why

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ESTA shares. Citigroup boosted their price objective on Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Stephens raised shares of Establishment Labs to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BTIG Research boosted their target price on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $60.60.

Establishment Labs Stock Performance

The firm has a fifty day moving average of $43.69 and a 200-day moving average of $43.82. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94. The firm has a market cap of $1.12 billion, a P/E ratio of -15.51 and a beta of 1.16.

Hedge Funds Weigh In On Establishment Labs

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Establishment Labs by 89.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 41,351 shares of the company’s stock valued at $1,789,000 after purchasing an additional 19,531 shares during the period. Divisadero Street Capital Management LP bought a new position in Establishment Labs during the second quarter worth about $5,829,000. Principal Financial Group Inc. bought a new position in Establishment Labs during the second quarter worth about $593,000. Sei Investments Co. grew its position in shares of Establishment Labs by 634.5% during the 2nd quarter. Sei Investments Co. now owns 40,576 shares of the company’s stock worth $1,844,000 after buying an additional 35,052 shares during the period. Finally, Sofinnova Investments Inc. increased its stake in shares of Establishment Labs by 204.1% in the 2nd quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock valued at $19,505,000 after acquiring an additional 288,082 shares during the last quarter. 72.91% of the stock is owned by institutional investors.

Establishment Labs Company 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.