Establishment Labs (NASDAQ:ESTA) Earns Buy Rating from TD Cowen

Establishment Labs (NASDAQ:ESTA)‘s stock had its “buy” rating reiterated by research analysts at TD Cowen in a research note issued on Thursday, Benzinga reports. They currently have a $117.00 price objective on the stock. TD Cowen’s price objective would indicate a potential upside of 93.99% from the stock’s current price.

Several other equities research analysts have also recently issued reports on ESTA. Needham & Company LLC lifted their target price on Establishment Labs from $86.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Stifel Nicolaus set a $85.00 target price on Establishment Labs and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “sell (e+)” rating on shares of Establishment Labs in a research note on Monday, September 21st. Citigroup upgraded Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 price target for the company in a report on Thursday, August 13th. Finally, Mizuho lifted their price objective on Establishment Labs from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 15th. Nine analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Establishment Labs has a consensus rating of “Moderate Buy” and a consensus price target of $98.56.

Establishment Labs Price Performance

Shares of NASDAQ:ESTA traded up $2.43 during midday trading on Thursday, reaching $60.31. 46,879 shares of the company were exchanged, compared to its average volume of 512,718. The company has a current ratio of 3.84, a quick ratio of 2.52 and a debt-to-equity ratio of 12.11. The business’s fifty day moving average is $70.01 and its two-hundred day moving average is $74.43. Establishment Labs has a one year low of $44.26 and a one year high of $97.59. The stock has a market cap of $1.80 billion, a PE ratio of -45.92 and a beta of 1.06.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.05). The company had revenue of $67.54 million during the quarter, compared to the consensus estimate of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The business’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.57) earnings per share. As a group, analysts predict that Establishment Labs will post -1.15 earnings per share for the current year.

Institutional Trading of Establishment Labs

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in shares of Establishment Labs in the 2nd quarter valued at approximately $135,752,000. William Blair Investment Management LLC purchased a new position in shares of Establishment Labs in the 2nd quarter worth approximately $61,273,000. Bank of America Corp DE bought a new position in shares of Establishment Labs during the 2nd quarter valued at approximately $52,176,000. Rice Hall James & Associates LLC bought a new position in shares of Establishment Labs during the 2nd quarter valued at approximately $48,134,000. Finally, Nantahala Capital Management LLC bought a new position in shares of Establishment Labs during the 2nd quarter valued at approximately $28,817,572. 72.91% of the stock is currently owned by institutional investors.

Establishment Labs Company Profile

Establishment Labs Holdings Inc (NASDAQ: ESTA) is a medical technology company focused on women’s health and breast aesthetics. The company develops, manufactures and markets medical devices intended for breast augmentation, reconstruction and related procedures.

Its principal product portfolio includes Motiva breast implants, a line of silicone-gel implants designed for aesthetic and reconstructive applications, as well as tissue expanders and other products used in breast surgery. Establishment Labs also offers Mia Femtech, a technology and procedure platform designed to support a less invasive approach to breast augmentation.

Founded in 2004, Establishment Labs is headquartered in Costa Rica and serves healthcare providers and patients in international markets.