Needham & Company LLC Reaffirms Buy Rating for Establishment Labs (NASDAQ:ESTA)

Establishment Labs (NASDAQ:ESTA)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They presently have a $84.00 price objective on the stock. Needham & Company LLC’s target price suggests a potential upside of 26.39% from the stock’s previous close.

Several other research firms have also recently issued reports on ESTA. Citigroup increased their price objective on Establishment Labs from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Mizuho lifted their price objective on Establishment Labs from $85.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Wall Street Zen upgraded shares of Establishment Labs from a “sell” rating to a “hold” rating in a report on Sunday, October 19th. BTIG Research boosted their price objective on shares of Establishment Labs from $81.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, December 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Establishment Labs from $71.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, December 17th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.86.

Establishment Labs Stock Down 2.8%

Shares of NASDAQ:ESTA traded down $1.88 during trading hours on Monday, reaching $66.46. The stock had a trading volume of 141,247 shares, compared to its average volume of 429,610. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of -23.50 and a beta of 0.92. The firm’s 50 day moving average is $68.95 and its 200-day moving average is $51.56. The company has a debt-to-equity ratio of 15.06, a quick ratio of 2.10 and a current ratio of 3.33. Establishment Labs has a 1 year low of $26.56 and a 1 year high of $78.24.

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

Institutional Investors Weigh In On Establishment Labs

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CenterBook Partners LP bought a new position in Establishment Labs during the second quarter worth $16,204,000. Viking Global Investors LP acquired a new position in Establishment Labs in the 2nd quarter valued at $14,669,000. Bamco Inc. NY increased its position in Establishment Labs by 30.2% during the 3rd quarter. Bamco Inc. NY now owns 1,181,824 shares of the company’s stock worth $48,443,000 after buying an additional 274,287 shares during the period. Woodson Capital Management LP boosted its position in shares of Establishment Labs by 113.3% in the third quarter. Woodson Capital Management LP now owns 480,000 shares of the company’s stock valued at $19,675,000 after acquiring an additional 255,000 shares during the period. Finally, Pier Capital LLC bought a new position in shares of Establishment Labs in the 2nd quarter valued at $10,777,000. 72.91% of the stock is currently owned by institutional investors.

About Establishment Labs

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.