Cannon Global Investment Management LLC Acquires New Stake in Establishment Labs Holdings Inc. $ESTA

Cannon Global Investment Management LLC acquired a new stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 13,000 shares of the company’s stock, valued at approximately $738,000. Establishment Labs comprises about 1.4% of Cannon Global Investment Management LLC’s holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of ESTA. Goldman Sachs Group Inc. increased its stake in Establishment Labs by 117.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 811,536 shares of the company’s stock worth $59,145,000 after purchasing an additional 438,206 shares during the period. Viking Global Investors LP bought a new position in Establishment Labs in the 2nd quarter worth about $14,669,000. Bamco Inc. NY increased its position in shares of Establishment Labs by 30.2% during the third quarter. Bamco Inc. NY now owns 1,181,824 shares of the company’s stock worth $48,443,000 after acquiring an additional 274,287 shares during the period. Soleus Capital Management L.P. purchased a new position in shares of Establishment Labs during the second quarter worth approximately $9,050,000. Finally, Summit Partners Public Asset Management LLC raised its stake in shares of Establishment Labs by 87.1% during the third quarter. Summit Partners Public Asset Management LLC now owns 430,160 shares of the company’s stock valued at $17,632,000 after acquiring an additional 200,255 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Insider Buying and Selling

In other Establishment Labs news, Director Quiros Juan Jose Chacon sold 105,000 shares of Establishment Labs stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $75.42, for a total value of $7,919,100.00. Following the transaction, the director directly owned 927,504 shares of the company’s stock, valued at approximately $69,952,351.68. The trade was a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 292,500 shares of company stock worth $20,591,021 over the last three months. Corporate insiders own 9.99% of the company’s stock.

Establishment Labs Trading Down 0.8%

Shares of NASDAQ:ESTA opened at $88.38 on Friday. Establishment Labs Holdings Inc. has a 12-month low of $33.35 and a 12-month high of $90.50. The business’s fifty day simple moving average is $73.62 and its 200-day simple moving average is $70.35. The company has a market capitalization of $2.60 billion, a PE ratio of -59.32 and a beta of 1.11. The company has a current ratio of 2.96, a quick ratio of 1.91 and a debt-to-equity ratio of 16.82.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.45) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.10). Establishment Labs had a negative net margin of 19.05% and a negative return on equity of 218.77%. The company had revenue of $59.88 million for the quarter, compared to the consensus estimate of $57.40 million. During the same period in the previous year, the business earned ($0.70) EPS. Establishment Labs’s revenue for the quarter was up 44.7% compared to the same quarter last year. As a group, equities research analysts predict that Establishment Labs Holdings Inc. will post -1.07 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ESTA. Weiss Ratings reissued a “sell (e+)” rating on shares of Establishment Labs in a research note on Wednesday. BTIG Research upped their target price on Establishment Labs from $88.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Citigroup reissued a “neutral” rating on shares of Establishment Labs in a research report on Wednesday, May 6th. TD Cowen restated a “buy” rating on shares of Establishment Labs in a research note on Monday, June 8th. Finally, Wall Street Zen downgraded Establishment Labs from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $87.14.

Establishment Labs Profile

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.