Establishment Labs (NASDAQ:ESTA) Shares Down 3.7% – Should You Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA) shares dropped 3.7% on Thursday . The stock traded as low as $72.70 and last traded at $71.9450. Approximately 95,954 shares changed hands during trading, a decline of 81% from the average daily volume of 496,393 shares. The stock had previously closed at $74.71.

Wall Street Analysts Forecast Growth

ESTA has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on Establishment Labs from $72.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Establishment Labs in a research note on Monday. JPMorgan Chase & Co. lifted their target price on shares of Establishment Labs from $71.00 to $80.00 and gave the stock an “overweight” rating in a research report on Wednesday. Mizuho boosted their price target on shares of Establishment Labs from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Establishment Labs from a “sell” rating to a “hold” rating in a research note on Sunday, October 19th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Establishment Labs has an average rating of “Moderate Buy” and an average price target of $78.14.

Establishment Labs Stock Down 7.4%

The company has a debt-to-equity ratio of 15.06, a current ratio of 3.33 and a quick ratio of 2.10. The business has a 50 day simple moving average of $60.41 and a 200 day simple moving average of $47.30. The stock has a market cap of $2.01 billion, a PE ratio of -24.36 and a beta of 1.01.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings results on Wednesday, November 5th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $53.78 million during the quarter, compared to analyst estimates of $52.28 million. During the same period in the previous year, the company earned ($0.59) EPS. The firm’s revenue was up 33.8% on a year-over-year basis. On average, equities research analysts forecast that Establishment Labs Holdings Inc. will post -2.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Establishment Labs

A number of large investors have recently bought and sold shares of ESTA. CenterBook Partners LP acquired a new position in Establishment Labs during the 2nd quarter worth $16,204,000. Viking Global Investors LP bought a new position in shares of Establishment Labs in the second quarter worth about $14,669,000. First Light Asset Management LLC bought a new position in shares of Establishment Labs in the first quarter worth about $13,746,000. Nuveen LLC acquired a new position in shares of Establishment Labs during the 1st quarter worth about $13,054,000. Finally, Bamco Inc. NY boosted its stake in Establishment Labs by 30.2% during the 3rd quarter. Bamco Inc. NY now owns 1,181,824 shares of the company’s stock valued at $48,443,000 after purchasing an additional 274,287 shares during the period. 72.91% of the stock is currently 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.