Mizuho Raises Establishment Labs (NASDAQ:ESTA) Price Target to $70.00

Establishment Labs (NASDAQ:ESTA) had its price objective upped by equities researchers at Mizuho from $58.00 to $70.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 57.59% from the company’s previous close.

Several other research analysts also recently weighed in on ESTA. Wall Street Zen downgraded shares of Establishment Labs from a “hold” rating to a “sell” rating in a research note on Saturday. BTIG Research began coverage on shares of Establishment Labs in a research note on Friday, May 16th. They issued a “buy” rating and a $62.00 target price for the company. Citigroup increased their price objective on shares of Establishment Labs from $38.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $48.00 price target on shares of Establishment Labs in a research report on Friday, June 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Establishment Labs presently has an average rating of “Moderate Buy” and a consensus price target of $54.83.

Establishment Labs Price Performance

Establishment Labs stock opened at $44.42 on Wednesday. Establishment Labs has a 52-week low of $26.56 and a 52-week high of $52.41. The firm has a fifty day moving average of $38.68 and a 200-day moving average of $36.90. The firm has a market capitalization of $1.28 billion, a P/E ratio of -14.33 and a beta of 0.80. The company has a quick ratio of 2.05, a current ratio of 3.36 and a debt-to-equity ratio of 5.72.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.83) by $0.13. Establishment Labs had a negative net margin of 52.34% and a negative return on equity of 196.25%. The company had revenue of $41.38 million during the quarter, compared to analyst estimates of $41.15 million. During the same quarter in the prior year, the business earned ($0.58) earnings per share. The business’s quarterly revenue was up 11.3% compared to the same quarter last year. As a group, analysts predict that Establishment Labs will post -2.41 EPS for the current year.

Hedge Funds Weigh In On Establishment Labs

Several large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. increased its stake in Establishment Labs by 0.4% during the 1st quarter. Raymond James Financial Inc. now owns 119,752 shares of the company’s stock valued at $4,886,000 after buying an additional 491 shares during the period. Swiss National Bank boosted its holdings in shares of Establishment Labs by 1.3% in the first quarter. Swiss National Bank now owns 39,000 shares of the company’s stock worth $1,591,000 after buying an additional 500 shares during the period. Quarry LP acquired a new position in shares of Establishment Labs in the fourth quarter worth about $27,000. Federated Hermes Inc. boosted its holdings in shares of Establishment Labs by 3.0% in the fourth quarter. Federated Hermes Inc. now owns 32,720 shares of the company’s stock worth $1,507,000 after buying an additional 953 shares during the period. Finally, ANTIPODES PARTNERS Ltd acquired a new position in shares of Establishment Labs in the first quarter worth about $81,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

About Establishment Labs

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.