Establishment Labs (NASDAQ:ESTA) Trading Up 10.1% – Here’s What Happened

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

Analyst Ratings Changes

ESTA has been the subject of several analyst reports. BTIG Research lifted their price objective on Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a report on Monday, October 14th. Citigroup boosted their price target on Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, Stephens upgraded shares of Establishment Labs to a “strong-buy” rating in a research note on Monday, December 2nd. One equities 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 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 has a market cap of $967.68 million, a price-to-earnings ratio of -13.40 and a beta of 1.15. The business has a fifty day moving average price of $43.20 and a 200 day moving average price of $43.47.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. bought a new stake in shares of Establishment Labs during the 4th quarter valued at approximately $12,898,000. Divisadero Street Capital Management LP acquired a new stake in Establishment Labs in the second quarter valued at approximately $5,829,000. Millennium Management LLC grew its stake in shares of Establishment Labs by 49.8% during the second quarter. Millennium Management LLC now owns 273,605 shares of the company’s stock worth $12,433,000 after buying an additional 90,943 shares during the last quarter. Rice Hall James & Associates LLC increased 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 worth $34,326,000 after buying an additional 76,959 shares in the last quarter. Finally, Stonepine Capital Management LLC bought a new position in shares of Establishment Labs in the 3rd quarter valued at $3,245,000. Institutional investors and hedge funds 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.