JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Establishment Labs (NASDAQ:ESTA) Stock

Establishment Labs (NASDAQ:ESTA) had its price target increased by research analysts at JPMorgan Chase & Co. from $71.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 7.66% from the company’s previous close.

Several other equities research analysts have also recently weighed in on ESTA. Weiss Ratings reissued a “sell (e+)” rating on shares of Establishment Labs in a research report on Monday. BTIG Research increased their price target on shares of Establishment Labs from $70.00 to $81.00 and gave the company a “buy” rating in a report on Friday, November 14th. Needham & Company LLC raised their price target on shares of Establishment Labs from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Citigroup upped their price objective on shares of Establishment Labs from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, December 11th. Finally, Canaccord Genuity Group set a $85.00 target price on Establishment Labs in a research report on Wednesday. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $78.14.

Establishment Labs Stock Up 0.2%

NASDAQ:ESTA traded up $0.16 on Wednesday, hitting $74.31. 512,662 shares of the company’s stock traded hands, compared to its average volume of 494,735. Establishment Labs has a 1 year low of $26.56 and a 1 year high of $78.24. The company has a current ratio of 3.33, a quick ratio of 2.10 and a debt-to-equity ratio of 15.06. The company has a market cap of $2.16 billion, a PE ratio of -26.10 and a beta of 1.01. The firm has a 50-day moving average price of $59.72 and a 200-day moving average price of $47.10.

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

Institutional Investors Weigh In On Establishment Labs

A number of hedge funds and other institutional investors have recently bought and sold shares of ESTA. Swiss National Bank raised its position in Establishment Labs by 1.3% in the 1st quarter. Swiss National Bank now owns 39,000 shares of the company’s stock valued at $1,591,000 after purchasing an additional 500 shares during the last quarter. Nuveen LLC acquired a new position in Establishment Labs during the 1st quarter worth about $13,054,000. Raymond James Financial Inc. grew its holdings in Establishment Labs by 0.4% during the 1st quarter. Raymond James Financial Inc. now owns 119,752 shares of the company’s stock worth $4,886,000 after acquiring an additional 491 shares during the last quarter. Nantahala Capital Management LLC raised its stake in shares of 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 acquiring an additional 119,574 shares during the last quarter. Finally, Vestal Point Capital LP lifted its position in shares of 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 purchasing an additional 133,193 shares in the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

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.