Establishment Labs (NASDAQ:ESTA) Stock Price Down 3.7% – Time to Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA) traded down 3.7% on Thursday . The stock traded as low as $40.79 and last traded at $40.88. 100,327 shares traded hands during trading, a decline of 74% from the average session volume of 385,940 shares. The stock had previously closed at $42.46.

Wall Street Analysts Forecast Growth

ESTA has been the subject of several recent analyst reports. Citigroup upped their price target on Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 1st. Stephens upgraded Establishment Labs to a “strong-buy” rating in a report on Monday, December 2nd. Finally, BTIG Research boosted 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $60.60.

Establishment Labs Trading Up 2.7 %

The company has a debt-to-equity ratio of 5.94, a quick ratio of 2.29 and a current ratio of 3.62. The company’s 50 day moving average is $43.69 and its 200 day moving average is $43.82. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of -15.51 and a beta of 1.16.

Hedge Funds Weigh In On Establishment Labs

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of Establishment Labs in the second quarter valued at $303,000. Principal Financial Group Inc. acquired a new position in Establishment Labs in the second quarter worth about $593,000. First Turn Management LLC bought a new position in Establishment Labs during the second quarter worth about $16,812,000. 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. Finally, Sofinnova Investments Inc. grew its stake in shares of Establishment Labs by 204.1% in the 2nd 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 during the period. 72.91% of the stock is currently owned by institutional investors.

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.