Short Interest in Establishment Labs Holdings Inc. (NASDAQ:ESTA) Increases By 14.5%

Establishment Labs Holdings Inc. (NASDAQ:ESTA) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 5,280,000 shares, an increase of 14.5% from the September 30th total of 4,610,000 shares. Approximately 23.2% of the shares of the company are short sold. Based on an average daily trading volume, of 376,600 shares, the days-to-cover ratio is currently 14.0 days.

Wall Street Analyst Weigh In

ESTA has been the topic of a number of analyst reports. BTIG Research raised their price objective on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. dropped their price target on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Citigroup upped their price objective 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. Finally, Stephens reissued an “overweight” rating and set a $68.00 target price on shares of Establishment Labs in a research note on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.83.

Establishment Labs Price Performance

NASDAQ:ESTA traded up $0.70 during trading hours on Thursday, reaching $45.67. 42,119 shares of the company were exchanged, compared to its average volume of 373,141. The stock’s 50-day moving average is $43.21 and its 200-day moving average is $46.07. Establishment Labs has a twelve month low of $16.96 and a twelve month high of $60.12. The firm has a market cap of $1.28 billion, a PE ratio of -14.46 and a beta of 1.20. The company has a current ratio of 4.44, a quick ratio of 2.91 and a debt-to-equity ratio of 4.30.

Establishment Labs (NASDAQ:ESTA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11). The firm had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. Establishment Labs’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.65) earnings per share. On average, sell-side analysts anticipate that Establishment Labs will post -2.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESTA. Capital Research Global Investors acquired a new stake in shares of Establishment Labs in the first quarter valued at about $45,888,000. William Blair Investment Management LLC acquired a new stake in Establishment Labs in the 1st quarter valued at about $21,415,000. First Turn Management LLC purchased a new position in Establishment Labs in the 2nd quarter worth approximately $16,812,000. Sofinnova Investments Inc. boosted its holdings in shares of Establishment Labs by 204.1% during the 2nd quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock worth $19,505,000 after purchasing an additional 288,082 shares during the last quarter. Finally, Divisadero Street Capital Management LP purchased a new stake in shares of Establishment Labs in the second quarter valued at approximately $5,829,000. Hedge funds and other institutional investors 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.