Establishment Labs (NASDAQ:ESTA) Trading 10.1% Higher – Still a Buy?

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s share price was up 10.1% during mid-day trading on Wednesday . The stock traded as high as $36.61 and last traded at $36.51. Approximately 522,421 shares were traded during mid-day trading, a decline of 50% from the average daily volume of 1,049,284 shares. The stock had previously closed at $33.15.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ESTA. Citigroup upped their price target on shares of Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. BTIG Research upped their price target on Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Stephens upgraded Establishment Labs to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $60.60.

Establishment Labs Trading Up 4.5 %

The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. The stock’s 50 day moving average is $43.75 and its 200-day moving average is $43.60. The company has a market capitalization of $970.13 million, a P/E ratio of -13.43 and a beta of 1.15.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Sofinnova Investments Inc. grew its stake in Establishment Labs by 204.1% in the second 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 period. Divisadero Street Capital Management LP purchased a new stake in shares of Establishment Labs in the 2nd quarter worth about $5,829,000. Sei Investments Co. increased its stake in shares of Establishment Labs by 634.5% in the 2nd quarter. Sei Investments Co. now owns 40,576 shares of the company’s stock worth $1,844,000 after acquiring an additional 35,052 shares in the last quarter. Nkcfo LLC purchased a new position in Establishment Labs during the 2nd quarter valued at about $227,000. Finally, Hood River Capital Management LLC bought a new stake in Establishment Labs during the second quarter worth about $43,000. 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.