Establishment Labs (NASDAQ:ESTA) Announces Quarterly Earnings Results

Establishment Labs (NASDAQ:ESTA) issued its earnings results on Wednesday. The company reported ($0.58) EPS for the quarter, beating the consensus estimate of ($0.65) by $0.07, Briefing.com reports. Establishment Labs had a negative net margin of 47.53% and a negative return on equity of 357.81%. The company had revenue of $37.17 million for the quarter, compared to the consensus estimate of $35.61 million. During the same quarter in the previous year, the company earned ($0.48) EPS. The firm’s revenue for the quarter was down 20.1% compared to the same quarter last year. Establishment Labs updated its FY 2024 guidance to EPS.

Establishment Labs Stock Performance

Shares of ESTA stock traded up $5.58 during midday trading on Thursday, hitting $56.83. 670,128 shares of the company were exchanged, compared to its average volume of 408,826. The firm has a market capitalization of $1.56 billion, a P/E ratio of -18.57 and a beta of 1.23. The company has a debt-to-equity ratio of 10.26, a quick ratio of 1.67 and a current ratio of 3.06. Establishment Labs has a 52 week low of $16.96 and a 52 week high of $73.00. The firm’s 50 day moving average price is $50.27 and its two-hundred day moving average price is $37.38.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ESTA shares. Mizuho raised their price target on Establishment Labs from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Citigroup increased their price target on shares of Establishment Labs from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Establishment Labs from $46.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Stephens reiterated an “overweight” rating and issued a $47.00 price objective on shares of Establishment Labs in a research report on Thursday, January 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Establishment Labs currently has a consensus rating of “Buy” and a consensus target price of $55.00.

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.