Granite Investment Partners LLC Has $8.15 Million Stake in Establishment Labs Holdings Inc. $ESTA

Granite Investment Partners LLC lowered its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 5.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 143,549 shares of the company’s stock after selling 7,946 shares during the quarter. Granite Investment Partners LLC owned about 0.49% of Establishment Labs worth $8,151,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in shares of Establishment Labs by 59.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 115,876 shares of the company’s stock valued at $8,445,000 after acquiring an additional 43,164 shares during the period. Bamco Inc. NY increased its position in shares of Establishment Labs by 30.2% in the third quarter. Bamco Inc. NY now owns 1,181,824 shares of the company’s stock worth $48,443,000 after purchasing an additional 274,287 shares during the period. Simplify Asset Management Inc. increased its position in shares of Establishment Labs by 92.1% in the fourth quarter. Simplify Asset Management Inc. now owns 72,894 shares of the company’s stock worth $5,313,000 after purchasing an additional 34,946 shares during the period. Portolan Capital Management LLC raised its stake in Establishment Labs by 24.7% in the third quarter. Portolan Capital Management LLC now owns 155,096 shares of the company’s stock valued at $6,357,000 after purchasing an additional 30,704 shares in the last quarter. Finally, Mudita Advisors LLP raised its stake in Establishment Labs by 14.3% in the third quarter. Mudita Advisors LLP now owns 686,764 shares of the company’s stock valued at $28,150,000 after purchasing an additional 86,100 shares in the last quarter. Institutional investors own 72.91% of the company’s stock.

Insider Buying and Selling at Establishment Labs

In other news, Director Quiros Juan Jose Chacon sold 105,000 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $75.42, for a total transaction of $7,919,100.00. Following the completion of the transaction, the director directly owned 927,504 shares in the company, valued at $69,952,351.68. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 292,500 shares of company stock valued at $20,591,021 over the last ninety days. Corporate insiders own 9.99% of the company’s stock.

Establishment Labs Stock Down 3.4%

Shares of NASDAQ ESTA opened at $87.99 on Thursday. The company has a current ratio of 2.96, a quick ratio of 1.91 and a debt-to-equity ratio of 16.82. The company has a market cap of $2.59 billion, a price-to-earnings ratio of -59.05 and a beta of 1.06. Establishment Labs Holdings Inc. has a 12 month low of $33.35 and a 12 month high of $92.83. The stock has a 50-day moving average price of $77.32 and a two-hundred day moving average price of $71.28.

Establishment Labs (NASDAQ:ESTA) last issued its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.10). Establishment Labs had a negative net margin of 19.05% and a negative return on equity of 218.77%. The company had revenue of $59.88 million during the quarter, compared to analyst estimates of $57.40 million. During the same quarter in the prior year, the business earned ($0.70) EPS. The business’s quarterly revenue was up 44.7% on a year-over-year basis. As a group, analysts forecast that Establishment Labs Holdings Inc. will post -1.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ESTA shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Establishment Labs in a research note on Wednesday, June 24th. BTIG Research boosted their target price on shares of Establishment Labs from $88.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. TD Cowen restated a “buy” rating on shares of Establishment Labs in a research report on Monday, June 8th. Wall Street Zen downgraded shares of Establishment Labs from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Citigroup increased their price target on shares of Establishment Labs from $76.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.71.

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.