Establishment Labs (NASDAQ:ESTA) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Establishment Labs (NASDAQ:ESTA) announced its quarterly earnings data on Tuesday. The company reported ($0.62) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11), Briefing.com reports. Establishment Labs had a negative net margin of 53.12% and a negative return on equity of 206.05%. The company had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. During the same period in the previous year, the firm posted ($0.65) earnings per share. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Establishment Labs updated its FY 2024 guidance to EPS.

Establishment Labs Trading Up 6.4 %

NASDAQ:ESTA traded up $2.50 during trading hours on Friday, hitting $41.49. 724,111 shares of the stock were exchanged, compared to its average volume of 381,092. The company’s 50 day moving average is $45.05 and its two-hundred day moving average is $46.57. The company has a market capitalization of $1.14 billion, a P/E ratio of -13.21 and a beta of 1.24. Establishment Labs has a twelve month low of $16.96 and a twelve month high of $61.40. The company has a quick ratio of 2.73, a current ratio of 4.24 and a debt-to-equity ratio of 3.38.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Stephens reissued an “overweight” rating and set a $68.00 price objective on shares of Establishment Labs in a research report on Wednesday. Mizuho upped their target price on shares of Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Citigroup cut their price target on shares of Establishment Labs from $60.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered their price objective on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $57.60.

Insider Transactions at Establishment Labs

In related news, CEO Quiros Juan Jose Chacon sold 3,641 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $45.04, for a total value of $163,990.64. Following the transaction, the chief executive officer now owns 210,735 shares in the company, valued at $9,491,504.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 14,346 shares of company stock worth $647,806 over the last 90 days. 11.44% of the stock is owned by insiders.

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.