Establishment Labs (NASDAQ:ESTA) Shares Up 6% – Time to Buy?

Establishment Labs Holdings Inc. (NASDAQ:ESTA) was up 6% on Wednesday . The stock traded as high as $46.50 and last traded at $45.88. Approximately 31,734 shares changed hands during trading, a decline of 92% from the average daily volume of 385,023 shares. The stock had previously closed at $43.28.

Analysts Set New Price Targets

Several equities analysts have weighed in on ESTA shares. Citigroup raised their target price on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. BTIG Research raised their target price on Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Stephens upgraded Establishment Labs to a “strong-buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $60.60.

Establishment Labs Trading Up 8.3 %

The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -18.16 and a beta of 1.16. The company has a 50-day moving average price of $43.50 and a 200-day moving average price of $44.18. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94.

Institutional Investors Weigh In On Establishment Labs

A number of institutional investors have recently added to or reduced their stakes in the company. Rice Hall James & Associates LLC grew its position in Establishment Labs by 10.7% during the third quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company’s stock worth $34,326,000 after buying an additional 76,959 shares in the last quarter. Bamco Inc. NY boosted its holdings in Establishment Labs by 13.6% during the third quarter. Bamco Inc. NY now owns 489,386 shares of the company’s stock valued at $21,176,000 after purchasing an additional 58,611 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Establishment Labs by 14.5% during the second quarter. William Blair Investment Management LLC now owns 481,572 shares of the company’s stock valued at $21,883,000 after purchasing an additional 60,848 shares in the last quarter. Sofinnova Investments Inc. boosted its holdings in Establishment Labs by 204.1% during the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock valued at $19,505,000 after purchasing an additional 288,082 shares in the last quarter. Finally, First Turn Management LLC acquired a new stake in Establishment Labs during the second quarter valued at approximately $16,812,000. 72.91% of the stock is 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.