Establishment Labs (NASDAQ:ESTA) Trading Up 6% – Still a Buy?

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

Analyst Ratings Changes

A number of equities analysts recently commented on ESTA shares. BTIG Research lifted their price target on Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup lifted their target price on Establishment Labs from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 1st. Finally, Stephens raised 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Establishment Labs has a consensus rating of “Buy” and a consensus target price of $60.60.

Establishment Labs Price Performance

The stock has a 50 day simple moving average of $43.61 and a 200 day simple moving average of $44.21. 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 Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. First Turn Management LLC acquired a new position in shares of Establishment Labs during the second quarter valued at $16,812,000. Sofinnova Investments Inc. boosted its stake in Establishment Labs by 204.1% during 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. Divisadero Street Capital Management LP bought a new position in Establishment Labs in the 2nd quarter worth about $5,829,000. Millennium Management LLC increased its stake in shares of Establishment Labs by 49.8% in the second quarter. Millennium Management LLC now owns 273,605 shares of the company’s stock valued at $12,433,000 after purchasing an additional 90,943 shares during the period. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Establishment Labs by 10.7% during the third quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company’s stock valued at $34,326,000 after buying an additional 76,959 shares during the last quarter. 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.