First Turn Management LLC Decreases Stock Holdings in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

First Turn Management LLC lowered its stake in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 3.5% during the third quarter, Holdings Channel reports. The institutional investor owned 357,003 shares of the company’s stock after selling 12,977 shares during the period. Establishment Labs comprises about 2.4% of First Turn Management LLC’s portfolio, making the stock its 18th biggest position. First Turn Management LLC’s holdings in Establishment Labs were worth $15,448,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ESTA. Capital Research Global Investors purchased a new stake in shares of Establishment Labs in the first quarter valued at about $45,888,000. Sofinnova Investments Inc. lifted its holdings in shares of Establishment Labs by 204.1% in the second 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 in the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Establishment Labs in the second quarter valued at about $5,829,000. Redmile Group LLC purchased a new stake in shares of Establishment Labs in the first quarter valued at about $5,820,000. Finally, Bamco Inc. NY lifted its holdings in shares of Establishment Labs by 28.4% in the first quarter. Bamco Inc. NY now owns 429,775 shares of the company’s stock valued at $21,876,000 after purchasing an additional 95,000 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Establishment Labs Stock Performance

Shares of ESTA stock opened at $37.78 on Tuesday. Establishment Labs Holdings Inc. has a one year low of $21.25 and a one year high of $60.12. The company has a debt-to-equity ratio of 5.94, a quick ratio of 2.91 and a current ratio of 3.62. The company has a 50 day moving average price of $43.15 and a 200 day moving average price of $45.55. The firm has a market capitalization of $1.06 billion, a price-to-earnings ratio of -14.99 and a beta of 1.20.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Stephens reissued an “overweight” rating and set a $68.00 price objective on shares of Establishment Labs in a research note on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Citigroup upped their price objective on shares of Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, October 1st. Finally, BTIG Research upped their price objective on shares of Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.60.

Establishment Labs Company Profile

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.