Establishment Labs Holdings Inc. (NASDAQ:ESTA) Sees Large Growth in Short Interest

Establishment Labs Holdings Inc. (NASDAQ:ESTAGet Free Report) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 4,560,000 shares, a growth of 10.4% from the February 29th total of 4,130,000 shares. Based on an average daily volume of 441,000 shares, the days-to-cover ratio is currently 10.3 days. Currently, 20.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price objective on Establishment Labs from $46.00 to $53.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Mizuho boosted their price objective on shares of Establishment Labs from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday. Finally, Stephens restated an “overweight” rating and set a $47.00 target price on shares of Establishment Labs in a research report on Thursday, January 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $66.50.

Check Out Our Latest Research Report on ESTA

Institutional Investors Weigh In On Establishment Labs

Institutional investors have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. raised its holdings in shares of Establishment Labs by 17.2% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 80,000 shares of the company’s stock worth $3,926,000 after acquiring an additional 11,736 shares during the period. Legato Capital Management LLC increased its stake in Establishment Labs by 63.1% during the fourth quarter. Legato Capital Management LLC now owns 8,438 shares of the company’s stock worth $218,000 after purchasing an additional 3,263 shares during the period. Bamco Inc. NY increased its stake in Establishment Labs by 29.0% during the third quarter. Bamco Inc. NY now owns 333,777 shares of the company’s stock worth $16,378,000 after purchasing an additional 75,000 shares during the period. Sei Investments Co. grew its position in shares of Establishment Labs by 11.6% during the second quarter. Sei Investments Co. now owns 44,567 shares of the company’s stock worth $3,058,000 after buying an additional 4,632 shares in the last quarter. Finally, Rice Hall James & Associates LLC grew its position in shares of Establishment Labs by 41.2% during the third quarter. Rice Hall James & Associates LLC now owns 368,407 shares of the company’s stock worth $18,078,000 after buying an additional 107,441 shares in the last quarter. Institutional investors and hedge funds own 72.91% of the company’s stock.

Establishment Labs Stock Performance

Shares of Establishment Labs stock traded up $1.65 during midday trading on Tuesday, hitting $50.45. The company had a trading volume of 879,956 shares, compared to its average volume of 460,661. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -16.60 and a beta of 1.24. The company has a quick ratio of 1.67, a current ratio of 3.06 and a debt-to-equity ratio of 10.26. The company has a fifty day simple moving average of $43.23 and a 200 day simple moving average of $35.84. Establishment Labs has a 12-month low of $16.96 and a 12-month high of $79.88.

Establishment Labs (NASDAQ:ESTAGet Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.16. Establishment Labs had a negative net margin of 47.53% and a negative return on equity of 357.81%. The company had revenue of $31.60 million during the quarter, compared to analyst estimates of $31.44 million. During the same period last year, the firm posted ($0.55) EPS. Establishment Labs’s revenue for the quarter was down 27.9% compared to the same quarter last year. As a group, analysts predict that Establishment Labs will post -1.58 earnings per share for the current fiscal year.

Establishment Labs Company Profile

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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.

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