Kornitzer Capital Management Inc. KS Boosts Stock Position in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Kornitzer Capital Management Inc. KS increased its holdings in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 26.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 389,160 shares of the company’s stock after acquiring an additional 81,155 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Establishment Labs were worth $10,075,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its stake in Establishment Labs by 2.3% during the 4th quarter. Legal & General Group Plc now owns 6,965 shares of the company’s stock worth $457,000 after buying an additional 157 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Establishment Labs by 0.8% during the first quarter. Geode Capital Management LLC now owns 22,736 shares of the company’s stock worth $1,540,000 after purchasing an additional 176 shares in the last quarter. California State Teachers Retirement System raised its stake in Establishment Labs by 1.3% in the 1st quarter. California State Teachers Retirement System now owns 16,285 shares of the company’s stock valued at $1,097,000 after purchasing an additional 204 shares during the last quarter. Walleye Capital LLC lifted its holdings in Establishment Labs by 3.9% in the 1st quarter. Walleye Capital LLC now owns 6,119 shares of the company’s stock valued at $412,000 after purchasing an additional 228 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its holdings in Establishment Labs by 39.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 842 shares of the company’s stock valued at $46,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on ESTA shares. Stephens reiterated an “overweight” rating and issued a $47.00 target price on shares of Establishment Labs in a research report on Thursday, January 11th. Mizuho raised their target price on shares of Establishment Labs from $50.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Citigroup boosted 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, JPMorgan Chase & Co. increased their price target on Establishment Labs from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Establishment Labs currently has an average rating of “Buy” and an average price target of $55.00.

Establishment Labs Trading Down 9.9 %

ESTA stock traded down $5.19 during trading on Friday, reaching $47.38. 427,182 shares of the stock were exchanged, compared to its average volume of 319,381. The company has a current ratio of 3.06, a quick ratio of 1.67 and a debt-to-equity ratio of 10.26. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -15.59 and a beta of 1.24. The business has a 50 day moving average price of $47.12 and a 200-day moving average price of $36.32. Establishment Labs Holdings Inc. has a 1 year low of $16.96 and a 1 year high of $77.55.

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

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.