Establishment Labs (NASDAQ:ESTA) Posts Quarterly Earnings Results, Misses Expectations By $0.11 EPS

Establishment Labs (NASDAQ:ESTA) issued its quarterly earnings data on Tuesday. The company reported ($0.62) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.11), Briefing.com reports. Establishment Labs had a negative net margin of 53.12% and a negative return on equity of 206.05%. The business had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.10 million. During the same quarter in the prior year, the company posted ($0.65) EPS. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. Establishment Labs updated its FY 2024 guidance to EPS.

Establishment Labs Stock Performance

ESTA traded up $2.50 during midday trading on Friday, hitting $41.49. 724,111 shares of the company were exchanged, compared to its average volume of 381,092. The company’s 50 day simple moving average is $45.05 and its 200 day simple moving average is $46.57. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of -13.21 and a beta of 1.24. The company has a current ratio of 4.24, a quick ratio of 2.73 and a debt-to-equity ratio of 3.38. Establishment Labs has a 1-year low of $16.96 and a 1-year high of $61.40.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ESTA. Stephens reiterated an “overweight” rating and set a $68.00 price objective on shares of Establishment Labs in a report on Wednesday. Mizuho upped their target price on Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. Citigroup cut their target price on Establishment Labs from $60.00 to $50.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut their target price on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating on the stock in a research report on Wednesday. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.60.

Insiders Place Their Bets

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $45.01, for a total transaction of $174,008.66. Following the sale, the chief executive officer now directly owns 215,030 shares of the company’s stock, valued at approximately $9,678,500.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 14,346 shares of company stock valued at $647,806. Company insiders own 11.44% of the company’s stock.

About Establishment Labs

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.