Citigroup Cuts Establishment Labs (NASDAQ:ESTA) Price Target to $74.00

Establishment Labs (NASDAQ:ESTA) had its price target trimmed by Citigroup from $81.00 to $74.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also weighed in on ESTA. Wall Street Zen raised Establishment Labs from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. BTIG Research raised their price target on Establishment Labs from $86.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. 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. JPMorgan Chase & Co. upped their price objective on shares of Establishment Labs from $71.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. Finally, Canaccord Genuity Group increased their price objective on shares of Establishment Labs from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $86.86.

Establishment Labs Trading Down 0.4%

Shares of NASDAQ:ESTA opened at $63.35 on Wednesday. Establishment Labs has a 52-week low of $26.56 and a 52-week high of $83.31. The company has a debt-to-equity ratio of 10.51, a quick ratio of 2.00 and a current ratio of 3.04. The company has a market capitalization of $1.86 billion, a P/E ratio of -36.41 and a beta of 0.91. The company has a 50-day simple moving average of $70.25 and a 200 day simple moving average of $60.41.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.13. The firm had revenue of $64.62 million for the quarter, compared to the consensus estimate of $63.80 million. Establishment Labs had a negative return on equity of 201.79% and a negative net margin of 24.19%.The business’s revenue was up 45.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.19) earnings per share. Sell-side analysts forecast that Establishment Labs will post -2.41 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new stake in Establishment Labs during the third quarter worth about $34,000. Kestra Advisory Services LLC bought a new position in Establishment Labs in the 4th quarter valued at about $47,000. State of Wyoming bought a new position in Establishment Labs in the 3rd quarter valued at about $71,000. Osaic Holdings Inc. raised its position in shares of Establishment Labs by 900.0% in the 2nd quarter. Osaic Holdings Inc. now owns 2,000 shares of the company’s stock valued at $85,000 after buying an additional 1,800 shares in the last quarter. Finally, MV Capital Management Inc. acquired a new position in shares of Establishment Labs in the 4th quarter valued at approximately $146,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

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.