Assenagon Asset Management S.A. Reduces Stock Position in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Assenagon Asset Management S.A. lessened its holdings in Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 47.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146,992 shares of the company’s stock after selling 132,980 shares during the period. Assenagon Asset Management S.A. owned about 0.51% of Establishment Labs worth $5,998,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB raised its position in shares of Establishment Labs by 32.3% during the fourth quarter. Handelsbanken Fonder AB now owns 8,200 shares of the company’s stock valued at $378,000 after buying an additional 2,000 shares during the last quarter. Raymond James Financial Inc. bought a new position in Establishment Labs during the 4th quarter worth about $5,494,000. Black Swift Group LLC lifted its position in shares of Establishment Labs by 98.6% during the fourth quarter. Black Swift Group LLC now owns 14,300 shares of the company’s stock valued at $659,000 after buying an additional 7,100 shares during the last quarter. Swiss National Bank lifted its position in shares of Establishment Labs by 2.7% during the fourth quarter. Swiss National Bank now owns 38,500 shares of the company’s stock valued at $1,774,000 after buying an additional 1,000 shares during the last quarter. Finally, Royce & Associates LP purchased a new position in shares of Establishment Labs in the 4th quarter valued at approximately $4,862,000. Institutional investors own 72.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ESTA shares. Stephens reaffirmed an “overweight” rating and set a $52.00 price objective on shares of Establishment Labs in a research note on Thursday, March 6th. Wall Street Zen upgraded shares of Establishment Labs from a “sell” rating to a “hold” rating in a report on Saturday. Needham & Company LLC reiterated a “buy” rating and set a $48.00 price target on shares of Establishment Labs in a research note on Friday. Finally, BTIG Research assumed coverage on Establishment Labs in a research report on Friday, May 16th. They set a “buy” rating and a $62.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.40.

Establishment Labs Price Performance

Shares of NASDAQ ESTA opened at $37.44 on Friday. The stock has a fifty day moving average price of $33.99 and a 200 day moving average price of $37.29. The company has a market cap of $1.08 billion, a PE ratio of -14.51 and a beta of 0.74. The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. Establishment Labs Holdings Inc. has a 1-year low of $26.56 and a 1-year high of $52.41.

Establishment Labs (NASDAQ:ESTA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.83) by $0.13. The business had revenue of $41.38 million during the quarter, compared to analysts’ expectations of $41.15 million. Establishment Labs had a negative return on equity of 184.55% and a negative net margin of 46.13%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.58) earnings per share. Sell-side analysts forecast that Establishment Labs Holdings Inc. will post -2.41 EPS for the current year.

Establishment Labs Company Profile

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 the Motiva Implants brand. 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.