Establishment Labs (NASDAQ:ESTA) Stock Price Up 6.8% – Here’s What Happened

Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) rose 6.8% during trading on Wednesday . The company traded as high as $40.72 and last traded at $40.07. Approximately 338,672 shares traded hands during mid-day trading, a decline of 12% from the average daily volume of 386,367 shares. The stock had previously closed at $37.52.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ESTA shares. JPMorgan Chase & Co. reduced their price target on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Citigroup lifted their target price on shares of Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Stephens reaffirmed an “overweight” rating and set a $68.00 price target on shares of Establishment Labs in a research note on Wednesday, August 7th. Finally, BTIG Research upped their price target on Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Establishment Labs currently has an average rating of “Moderate Buy” and an average price target of $60.60.

Establishment Labs Trading Up 8.7 %

The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. The company’s fifty day moving average is $42.95 and its 200-day moving average is $45.36. The company has a market capitalization of $1.14 billion, a PE ratio of -15.53 and a beta of 1.20.

Institutional Trading of Establishment Labs

A number of hedge funds have recently added to or reduced their stakes in the company. Hood River Capital Management LLC acquired a new position in shares of Establishment Labs during the 2nd quarter worth approximately $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Establishment Labs in the third quarter valued at about $127,000. Nkcfo LLC purchased a new stake in shares of Establishment Labs during the second quarter worth about $227,000. SG Americas Securities LLC acquired a new position in shares of Establishment Labs during the 2nd quarter worth about $303,000. Finally, Black Swift Group LLC acquired a new stake in Establishment Labs in the 3rd quarter worth about $312,000. 72.91% of the stock is owned by hedge funds and other institutional investors.

About Establishment Labs

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.