Establishment Labs Holdings Inc. (NASDAQ:ESTA) Short Interest Update

Establishment Labs Holdings Inc. (NASDAQ:ESTA) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,930,000 shares, a growth of 8.1% from the March 15th total of 4,560,000 shares. Based on an average trading volume of 457,400 shares, the short-interest ratio is currently 10.8 days. Currently, 21.7% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of research firms recently commented on ESTA. Stephens reaffirmed an “overweight” rating and set a $47.00 target price on shares of Establishment Labs in a report on Thursday, January 11th. JPMorgan Chase & Co. lifted their target price on Establishment Labs from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Citigroup lifted their target price on Establishment Labs from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Finally, Mizuho lifted their target price on Establishment Labs from $50.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $63.33.

Establishment Labs Stock Performance

NASDAQ:ESTA traded up $0.41 during trading hours on Wednesday, reaching $52.15. The company had a trading volume of 202,493 shares, compared to its average volume of 435,597. Establishment Labs has a 1-year low of $16.96 and a 1-year high of $77.55. The firm has a market cap of $1.43 billion, a PE ratio of -17.35 and a beta of 1.24. The business’s 50 day moving average price is $46.09 and its 200-day moving average price is $36.07. The company has a debt-to-equity ratio of 10.26, a current ratio of 3.06 and a quick ratio of 1.67.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Wednesday, February 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.16. Establishment Labs had a negative return on equity of 357.81% and a negative net margin of 47.53%. The firm had revenue of $31.60 million for the quarter, compared to analyst estimates of $31.44 million. During the same quarter last year, the firm posted ($0.55) EPS. The business’s revenue was down 27.9% on a year-over-year basis. Research analysts forecast that Establishment Labs will post -1.58 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Establishment Labs by 22.4% in the 1st quarter. Bank of New York Mellon Corp now owns 18,643 shares of the company’s stock valued at $1,256,000 after purchasing an additional 3,416 shares during the last quarter. Bank of Montreal Can acquired a new position in Establishment Labs in the 1st quarter valued at $1,408,000. BlackRock Inc. raised its stake in Establishment Labs by 2.5% in the 1st quarter. BlackRock Inc. now owns 90,995 shares of the company’s stock valued at $6,133,000 after purchasing an additional 2,198 shares during the last quarter. Vanguard Group Inc. raised its stake in Establishment Labs by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 75,747 shares of the company’s stock valued at $5,104,000 after purchasing an additional 3,154 shares during the last quarter. Finally, Affinity Asset Advisors LLC raised its stake in Establishment Labs by 125.2% in the 1st quarter. Affinity Asset Advisors LLC now owns 174,500 shares of the company’s stock valued at $11,760,000 after purchasing an additional 97,000 shares during the last quarter. Hedge funds and other institutional investors 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.