Granite Investment Partners LLC Sells 7,946 Shares of Establishment Labs Holdings Inc. $ESTA

Granite Investment Partners LLC reduced its holdings in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 5.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,549 shares of the company’s stock after selling 7,946 shares during the period. Granite Investment Partners LLC’s holdings in Establishment Labs were worth $8,151,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new position in shares of Establishment Labs in the 4th quarter valued at about $47,000. Quarry LP bought a new stake in shares of Establishment Labs during the 3rd quarter valued at about $34,000. MV Capital Management Inc. acquired a new stake in Establishment Labs during the fourth quarter worth approximately $146,000. Osaic Holdings Inc. grew its stake in Establishment Labs by 900.0% during the second quarter. Osaic Holdings Inc. now owns 2,000 shares of the company’s stock worth $85,000 after purchasing an additional 1,800 shares during the period. Finally, Truist Financial Corp acquired a new stake in Establishment Labs during the fourth quarter worth approximately $200,000. 72.91% of the stock is owned by institutional investors.

Establishment Labs Price Performance

Shares of NASDAQ:ESTA opened at $87.99 on Thursday. The company has a current ratio of 2.96, a quick ratio of 1.91 and a debt-to-equity ratio of 16.82. The stock’s fifty day simple moving average is $77.32 and its two-hundred day simple moving average is $71.28. Establishment Labs Holdings Inc. has a 1-year low of $33.35 and a 1-year high of $92.83. The stock has a market cap of $2.59 billion, a PE ratio of -59.05 and a beta of 1.06.

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

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 that occurred on Wednesday, May 6th. The shares were sold at an average price of $75.42, for a total transaction of $7,919,100.00. Following the transaction, the director owned 927,504 shares of the company’s stock, valued at $69,952,351.68. This trade represents a 10.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 292,500 shares of company stock valued at $20,591,021. Company insiders own 9.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ESTA. Wall Street Zen downgraded shares of Establishment Labs from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Establishment Labs in a research report on Wednesday, June 24th. Citigroup increased their target price on shares of Establishment Labs from $76.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday. TD Cowen restated a “buy” rating on shares of Establishment Labs in a report on Monday, June 8th. Finally, BTIG Research lifted their price target on shares of Establishment Labs from $88.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.71.

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.