Boothbay Fund Management LLC Cuts Holdings in Establishment Labs Holdings Inc. $ESTA

Boothbay Fund Management LLC decreased its holdings in Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 19.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 432,706 shares of the company’s stock after selling 104,807 shares during the quarter. Boothbay Fund Management LLC’s holdings in Establishment Labs were worth $17,737,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ESTA. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Establishment Labs by 20.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 57,215 shares of the company’s stock valued at $2,335,000 after acquiring an additional 9,557 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Establishment Labs by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 25,917 shares of the company’s stock worth $1,105,000 after acquiring an additional 299 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Establishment Labs by 94.2% during the 2nd quarter. SG Americas Securities LLC now owns 8,712 shares of the company’s stock worth $372,000 after purchasing an additional 4,226 shares during the last quarter. ARS Investment Partners LLC purchased a new stake in shares of Establishment Labs during the 2nd quarter worth $278,000. Finally, JPMorgan Chase & Co. boosted its position in Establishment Labs by 0.5% during the second quarter. JPMorgan Chase & Co. now owns 373,112 shares of the company’s stock valued at $15,936,000 after purchasing an additional 1,719 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on ESTA shares. BTIG Research boosted their target price on shares of Establishment Labs from $86.00 to $88.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Wall Street Zen upgraded shares of Establishment Labs from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Mizuho lifted their price objective on shares of Establishment Labs from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Canaccord Genuity Group boosted their price objective on shares of Establishment Labs from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Establishment Labs in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.86.

Establishment Labs Stock Performance

ESTA opened at $63.35 on Friday. The company has a market cap of $1.86 billion, a P/E ratio of -36.41 and a beta of 0.91. The company has a quick ratio of 2.00, a current ratio of 3.04 and a debt-to-equity ratio of 10.51. The firm’s 50-day moving average price is $70.25 and its 200-day moving average price is $60.54. Establishment Labs Holdings Inc. has a 52-week low of $26.56 and a 52-week high of $83.31.

Establishment Labs (NASDAQ:ESTA) last released its earnings results on Tuesday, February 24th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.13. The company had revenue of $64.62 million during the quarter, compared to analysts’ expectations of $63.80 million. Establishment Labs had a negative net margin of 24.19% and a negative return on equity of 201.79%. Establishment Labs’s revenue for the quarter was up 45.2% on a year-over-year basis. During the same period last year, the business earned ($1.19) EPS. As a group, equities analysts anticipate that Establishment Labs Holdings Inc. will post -2.41 EPS for the current fiscal year.

About Establishment Labs

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.