Establishment Labs Holdings Inc. (NASDAQ:ESTA – Get Free Report) was the target of a significant increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,210,000 shares, an increase of 7.3% from the September 30th total of 2,060,000 shares. Approximately 9.7% of the company’s shares are sold short. Based on an average daily volume of 178,800 shares, the short-interest ratio is presently 12.4 days.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on ESTA shares. Stephens reaffirmed an “overweight” rating and set a $89.00 price objective on shares of Establishment Labs in a research note on Friday, July 21st. JPMorgan Chase & Co. started coverage on Establishment Labs in a research note on Thursday, August 31st. They set an “overweight” rating and a $75.00 price objective for the company. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Establishment Labs presently has an average rating of “Buy” and an average target price of $91.60.
Get Our Latest Report on Establishment Labs
Establishment Labs Stock Down 7.5 %
Establishment Labs (NASDAQ:ESTA – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.68) by $0.03. The firm had revenue of $48.56 million during the quarter, compared to analysts’ expectations of $47.25 million. Establishment Labs had a negative return on equity of 755.73% and a negative net margin of 34.35%. As a group, equities analysts expect that Establishment Labs will post -2.45 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. GPS Wealth Strategies Group LLC bought a new position in shares of Establishment Labs during the second quarter worth about $25,000. BNP Paribas Arbitrage SA boosted its position in Establishment Labs by 3,244.4% during the first quarter. BNP Paribas Arbitrage SA now owns 602 shares of the company’s stock valued at $41,000 after purchasing an additional 584 shares during the last quarter. Lazard Asset Management LLC boosted its position in Establishment Labs by 104.5% during the first quarter. Lazard Asset Management LLC now owns 963 shares of the company’s stock valued at $64,000 after purchasing an additional 492 shares during the last quarter. Deutsche Bank AG acquired a new position in Establishment Labs during the fourth quarter valued at approximately $66,000. Finally, Global Retirement Partners LLC acquired a new position in Establishment Labs during the third quarter valued at approximately $60,000. 78.56% of the stock is currently owned by institutional investors.
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 Motiva Implants brand name. 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.
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