Establishment Labs (NASDAQ:ESTA) Given “Buy” Rating at BTIG Research

BTIG Research restated their buy rating on shares of Establishment Labs (NASDAQ:ESTA) in a research note issued to investors on Monday, AnalystRatings.com reports.

Several other research firms have also recently weighed in on ESTA. Zacks Investment Research upgraded shares of Establishment Labs from a strong sell rating to a hold rating in a report on Monday, August 3rd. UBS Group initiated coverage on shares of Establishment Labs in a report on Thursday, August 27th. They issued a buy rating and a $23.00 price target on the stock. Finally, BidaskClub upgraded shares of Establishment Labs from a sell rating to a hold rating in a report on Thursday, September 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $22.80.

Shares of NASDAQ ESTA opened at $17.27 on Monday. The company has a quick ratio of 5.22, a current ratio of 6.64 and a debt-to-equity ratio of 0.60. Establishment Labs has a 52 week low of $7.56 and a 52 week high of $29.78. The firm’s fifty day moving average is $18.42 and its 200 day moving average is $16.98. The company has a market cap of $403.55 million, a price-to-earnings ratio of -8.11 and a beta of 1.35.

Establishment Labs (NASDAQ:ESTA) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.01. The business had revenue of $10.47 million for the quarter, compared to analysts’ expectations of $14.40 million. Establishment Labs had a negative net margin of 56.74% and a negative return on equity of 69.87%. Equities research analysts anticipate that Establishment Labs will post -1.74 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC boosted its holdings in shares of Establishment Labs by 53.0% during the 2nd quarter. Nuveen Asset Management LLC now owns 158,238 shares of the company’s stock valued at $2,956,000 after buying an additional 54,845 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Establishment Labs by 33.1% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 28,307 shares of the company’s stock worth $529,000 after purchasing an additional 7,033 shares in the last quarter. Jane Street Group LLC boosted its stake in Establishment Labs by 94.8% in the 2nd quarter. Jane Street Group LLC now owns 50,604 shares of the company’s stock worth $945,000 after purchasing an additional 24,627 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Establishment Labs in the 2nd quarter worth about $2,790,000. Finally, Globeflex Capital L P bought a new position in Establishment Labs in the 2nd quarter worth about $85,000. Hedge funds and other institutional investors own 54.82% of the company’s stock.

About Establishment Labs

Establishment Labs Holdings Inc, a medical technology company, manufactures and markets medical devices for aesthetic plastic surgery and reconstructive plastic surgery. The company primarily offers silicone gel-filled breast implants under Motiva Implants brand name. It also provides Divina 3D simulation systems to plastic surgeons for use in pre-surgical patient consultations and planning; and distributes Puregraft line of products that is used to remove blood, lipids, and other components from adipose tissue.

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