Establishment Labs (NASDAQ:ESTA) Shares Down 6% – Should You Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA)’s share price fell 6% on Tuesday . The stock traded as low as $31.14 and last traded at $31.69. 738,442 shares traded hands during trading, a decline of 23% from the average session volume of 956,751 shares. The stock had previously closed at $33.71.

Analysts Set New Price Targets

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

Establishment Labs Stock Down 2.2 %

The stock has a market capitalization of $922.81 million, a P/E ratio of -12.78 and a beta of 1.15. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94. The firm’s fifty day moving average is $44.04 and its 200-day moving average is $43.68.

Hedge Funds Weigh In On Establishment Labs

A number of large investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. acquired a new position in shares of Establishment Labs during the fourth quarter worth approximately $12,898,000. SkyView Investment Advisors LLC lifted its position in shares of Establishment Labs by 30.5% during the third quarter. SkyView Investment Advisors LLC now owns 12,000 shares of the company’s stock worth $519,000 after purchasing an additional 2,805 shares in the last quarter. Barclays PLC lifted its position in shares of Establishment Labs by 9,643.3% during the third quarter. Barclays PLC now owns 31,471 shares of the company’s stock worth $1,362,000 after purchasing an additional 31,148 shares in the last quarter. Redmile Group LLC lifted its position in shares of Establishment Labs by 22.9% during the third quarter. Redmile Group LLC now owns 261,803 shares of the company’s stock worth $11,328,000 after purchasing an additional 48,779 shares in the last quarter. Finally, Point72 Asset Management L.P. lifted its position in shares of Establishment Labs by 210.8% during the third quarter. Point72 Asset Management L.P. now owns 49,400 shares of the company’s stock worth $2,138,000 after purchasing an additional 33,507 shares in the last quarter. 72.91% of the stock is currently owned by institutional investors and hedge funds.

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.