Citigroup Cuts Establishment Labs (NASDAQ:ESTA) Price Target to $50.00

Establishment Labs (NASDAQ:ESTA) had its price objective lowered by investment analysts at Citigroup from $60.00 to $50.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would indicate a potential upside of 9.58% from the company’s current price.

Separately, Mizuho increased their target price on Establishment Labs from $65.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, June 6th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Establishment Labs Price Performance

NASDAQ:ESTA opened at $45.63 on Wednesday. The company has a quick ratio of 2.73, a current ratio of 4.24 and a debt-to-equity ratio of 3.38. The stock’s 50 day moving average price is $49.29 and its two-hundred day moving average price is $44.55. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of -14.53 and a beta of 1.24. Establishment Labs has a 12-month low of $16.96 and a 12-month high of $73.00.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Wednesday, May 8th. The company reported ($0.58) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.07. The company had revenue of $37.17 million for the quarter, compared to analyst estimates of $35.61 million. Establishment Labs had a negative return on equity of 206.05% and a negative net margin of 53.12%. The firm’s quarterly revenue was down 20.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.48) earnings per share. On average, analysts anticipate that Establishment Labs will post -1.79 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $45.01, for a total transaction of $174,008.66. Following the sale, the chief executive officer now owns 215,030 shares of the company’s stock, valued at $9,678,500.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 14,346 shares of company stock valued at $647,806 over the last 90 days. 11.44% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Establishment Labs

Large investors have recently modified their holdings of the business. Stableford Capital II LLC acquired a new stake in shares of Establishment Labs in the 1st quarter valued at $1,568,000. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Establishment Labs by 26.3% in the 4th quarter. Kornitzer Capital Management Inc. KS now owns 389,160 shares of the company’s stock valued at $10,075,000 after purchasing an additional 81,155 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of Establishment Labs by 63.9% in the 4th quarter. Brown Advisory Inc. now owns 2,428,792 shares of the company’s stock valued at $62,881,000 after purchasing an additional 946,612 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Establishment Labs by 357.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 30,247 shares of the company’s stock valued at $783,000 after acquiring an additional 23,639 shares in the last quarter. Finally, Legato Capital Management LLC boosted its holdings in shares of Establishment Labs by 63.1% during the 4th quarter. Legato Capital Management LLC now owns 8,438 shares of the company’s stock valued at $218,000 after acquiring an additional 3,263 shares in the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

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.