Establishment Labs (NASDAQ:ESTA) Shares Gap Up on Better-Than-Expected Earnings

Establishment Labs Holdings Inc. (NASDAQ:ESTAGet Free Report) gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $51.25, but opened at $54.39. Establishment Labs shares last traded at $56.00, with a volume of 29,448 shares trading hands.

The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.07. Establishment Labs had a negative net margin of 47.53% and a negative return on equity of 357.81%. The business had revenue of $37.17 million during the quarter, compared to analyst estimates of $35.61 million. During the same period in the previous year, the business posted ($0.48) EPS. The company’s quarterly revenue was down 20.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

ESTA has been the subject of several research reports. Mizuho lifted their price target on shares of Establishment Labs from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. JPMorgan Chase & Co. lifted their price objective on shares of Establishment Labs from $46.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Citigroup lifted their price objective on shares of Establishment Labs from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $55.00.

Read Our Latest Research Report on ESTA

Institutional Trading of Establishment Labs

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Baker Avenue Asset Management LP bought a new stake in shares of Establishment Labs during the 3rd quarter worth about $59,000. Clear Street Markets LLC bought a new stake in shares of Establishment Labs during the 3rd quarter worth about $88,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Establishment Labs by 159.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,746 shares of the company’s stock worth $135,000 after buying an additional 1,688 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in shares of Establishment Labs during the 4th quarter worth about $93,000. Finally, SG Americas Securities LLC bought a new stake in shares of Establishment Labs during the 4th quarter worth about $120,000. 72.91% of the stock is currently owned by institutional investors.

Establishment Labs Stock Performance

The business’s 50-day simple moving average is $50.73 and its 200 day simple moving average is $37.67. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.67 and a current ratio of 3.06.

About Establishment Labs

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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.

Further Reading

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