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

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s stock price shot up 6.8% during trading on Wednesday . The stock traded as high as $40.72 and last traded at $40.07. 338,672 shares were traded during mid-day trading, a decline of 12% from the average session volume of 386,367 shares. The stock had previously closed at $37.52.

Analysts Set New Price Targets

ESTA has been the subject of a number of recent analyst reports. BTIG Research increased their target price on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Stephens reaffirmed an “overweight” rating and set a $68.00 price objective on shares of Establishment Labs in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their target price on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Citigroup raised their price target on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.60.

Establishment Labs Stock Performance

The stock’s 50 day simple moving average is $42.97 and its two-hundred day simple moving average is $45.31. The company has a market capitalization of $1.21 billion, a P/E ratio of -16.52 and a beta of 1.20. The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29.

Institutional Investors Weigh In On Establishment Labs

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

Establishment Labs Company Profile

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.