Establishment Labs (NASDAQ:ESTA) Issues Earnings Results, Beats Expectations By $0.07 EPS

Establishment Labs (NASDAQ:ESTA) announced its quarterly earnings data on Wednesday. The company reported ($0.58) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.07, Briefing.com reports. Establishment Labs had a negative net margin of 47.53% and a negative return on equity of 357.81%. The business had revenue of $37.17 million during the quarter, compared to the consensus estimate of $35.61 million. During the same quarter last year, the firm earned ($0.48) earnings per share. The firm’s quarterly revenue was down 20.1% compared to the same quarter last year. Establishment Labs updated its FY 2024 guidance to EPS.

Establishment Labs Stock Up 10.9 %

NASDAQ:ESTA traded up $5.58 during midday trading on Thursday, reaching $56.83. 670,128 shares of the stock traded hands, compared to its average volume of 408,297. Establishment Labs has a 12-month low of $16.96 and a 12-month high of $73.00. The business has a 50-day moving average of $50.27 and a two-hundred day moving average of $37.38. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.67 and a current ratio of 3.06. The stock has a market capitalization of $1.56 billion, a PE ratio of -18.57 and a beta of 1.23.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ESTA shares. Mizuho upped their price objective on Establishment Labs from $50.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, April 1st. JPMorgan Chase & Co. upped their target price on shares of Establishment Labs from $46.00 to $53.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of Establishment Labs in a report on Thursday, January 11th. Finally, Citigroup lifted their target price on Establishment Labs from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.00.

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.