First Light Asset Management LLC Trims Stock Holdings in Establishment Labs Holdings Inc. $ESTA

First Light Asset Management LLC reduced its holdings in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 19.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 246,577 shares of the company’s stock after selling 61,161 shares during the period. Establishment Labs accounts for 1.3% of First Light Asset Management LLC’s portfolio, making the stock its 24th biggest position. First Light Asset Management LLC’s holdings in Establishment Labs were worth $21,159,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ESTA. KBC Group NV acquired a new position in Establishment Labs during the 1st quarter worth $28,000. Integrated Wealth Concepts LLC bought a new position in shares of Establishment Labs during the second quarter worth about $32,000. Quarry LP bought a new position in shares of Establishment Labs during the third quarter worth about $34,000. Northwestern Mutual Wealth Management Co. acquired a new position in Establishment Labs in the second quarter worth about $43,000. Finally, Kestra Advisory Services LLC acquired a new position in Establishment Labs in the fourth quarter worth about $47,000. 72.91% of the stock is currently owned by institutional investors.

Establishment Labs Stock Performance

Shares of NASDAQ ESTA opened at $74.51 on Thursday. The company has a quick ratio of 2.52, a current ratio of 3.84 and a debt-to-equity ratio of 12.11. The firm’s 50-day moving average price is $82.69 and its two-hundred day moving average price is $74.87. Establishment Labs Holdings Inc. has a 52-week low of $36.53 and a 52-week high of $97.59. The stock has a market capitalization of $2.22 billion, a P/E ratio of -56.88 and a beta of 1.05.

Establishment Labs (NASDAQ:ESTA) last posted its earnings results on Thursday, August 6th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.05). The company had revenue of $67.54 million for the quarter, compared to the consensus estimate of $65.79 million. Establishment Labs had a negative net margin of 15.82% and a negative return on equity of 196.69%. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period last year, the company posted ($0.57) earnings per share. As a group, sell-side analysts forecast that Establishment Labs Holdings Inc. will post -1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ESTA. Citigroup upgraded Establishment Labs from a “neutral” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Thursday, August 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Establishment Labs in a research report on Wednesday, June 24th. TD Cowen upped their price target on Establishment Labs from $95.00 to $117.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Needham & Company LLC raised their price objective on Establishment Labs from $86.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, Mizuho lifted their price objective on shares of Establishment Labs from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Wednesday, July 15th. Eight analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $100.25.

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.