Establishment Labs (NASDAQ:ESTA) Stock Price Down 3.9% – Should You Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA) dropped 3.9% during mid-day trading on Thursday . The company traded as low as $34.52 and last traded at $34.83. Approximately 89,377 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 855,608 shares. The stock had previously closed at $36.23.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ESTA shares. BTIG Research boosted their price objective on Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Stephens raised Establishment Labs to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Citigroup lifted their target price on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $60.60.

Establishment Labs Stock Performance

The firm’s fifty day moving average price is $42.38 and its 200-day moving average price is $43.10. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94. The company has a market cap of $920.92 million, a P/E ratio of -12.75 and a beta of 1.15.

Establishment Labs (NASDAQ:ESTA) last posted its earnings results on Thursday, November 7th. The company reported ($0.59) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.02. Establishment Labs had a negative net margin of 46.13% and a negative return on equity of 184.55%. The business had revenue of $40.23 million for the quarter, compared to analysts’ expectations of $40.60 million. During the same quarter in the previous year, the firm posted ($1.12) earnings per share. As a group, research analysts forecast that Establishment Labs Holdings Inc. will post -2.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. R Squared Ltd bought a new stake in shares of Establishment Labs in the 4th quarter worth about $36,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Establishment Labs in the 3rd quarter worth approximately $127,000. Black Swift Group LLC bought a new stake in Establishment Labs during the 3rd quarter worth approximately $312,000. Verition Fund Management LLC increased its holdings in Establishment Labs by 22.8% during the 3rd quarter. Verition Fund Management LLC now owns 9,400 shares of the company’s stock valued at $407,000 after purchasing an additional 1,746 shares in the last quarter. Finally, SkyView Investment Advisors LLC acquired a new position in Establishment Labs in the second quarter worth $418,000. 72.91% of the stock is currently owned by institutional investors and hedge funds.

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.