Establishment Labs (NASDAQ:ESTA) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Establishment Labs (NASDAQ:ESTA) from a hold rating to a sell rating in a research report sent to investors on Tuesday, Zacks.com reports.

According to Zacks, “Establishment Labs Holdings Inc. is a medical technology company. It focuses on designing, developing, manufacturing and marketing portfolio of silicone gel-filled breast implants ae well as body shaping implants. The company’s brand consists of Motiva Implants(R) and MotivaImagine (R) platform. Its technologies portfolio includes Divina 3D Simulation System(R), Puregraft and MotivaImagine Centers (R). Establishment Labs Holdings Inc. is based in NEW YORK. “

A number of other equities research analysts also recently issued reports on ESTA. BTIG Research restated a buy rating and set a $35.00 price objective on shares of Establishment Labs in a research report on Thursday, May 7th. Goldman Sachs Group assumed coverage on Establishment Labs in a research note on Thursday, May 14th. They set a neutral rating and a $20.00 target price on the stock. Stephens cut their target price on Establishment Labs from $30.00 to $23.00 and set an overweight rating on the stock in a research note on Monday, March 23rd. ValuEngine cut Establishment Labs from a strong-buy rating to a buy rating in a research note on Thursday, April 2nd. Finally, BidaskClub raised Establishment Labs from a strong sell rating to a sell rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $24.40.

NASDAQ:ESTA opened at $16.36 on Tuesday. The company has a current ratio of 6.58, a quick ratio of 5.45 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $376.76 million, a P/E ratio of -7.72 and a beta of 1.46. Establishment Labs has a 12 month low of $7.56 and a 12 month high of $29.78. The business’s 50-day moving average is $18.41 and its 200 day moving average is $20.04.

Establishment Labs (NASDAQ:ESTA) last posted its earnings results on Thursday, May 7th. The company reported ($0.79) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.49). Establishment Labs had a negative return on equity of 75.95% and a negative net margin of 48.39%. The firm had revenue of $24.48 million during the quarter, compared to analysts’ expectations of $23.10 million. On average, research analysts forecast that Establishment Labs will post -1.65 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its stake in Establishment Labs by 63.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,493 shares of the company’s stock worth $97,000 after purchasing an additional 1,362 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Establishment Labs during the 1st quarter worth $25,000. Morgan Stanley boosted its position in Establishment Labs by 5.4% during the first quarter. Morgan Stanley now owns 136,498 shares of the company’s stock valued at $1,972,000 after purchasing an additional 7,035 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Establishment Labs in the first quarter valued at about $152,000. Finally, Magnetar Financial LLC grew its stake in Establishment Labs by 13.6% in the fourth quarter. Magnetar Financial LLC now owns 148,133 shares of the company’s stock valued at $4,097,000 after purchasing an additional 17,744 shares during the last quarter. 53.33% of the stock is currently owned by institutional investors.

Establishment Labs Company Profile

Establishment Labs Holdings Inc, a medical technology company, manufactures and markets medical devices for aesthetic plastic surgery and reconstructive plastic surgery. The company primarily offers silicone gel-filled breast implants under Motiva Implants brand name. It also provides Divina 3D simulation systems to plastic surgeons for use in pre-surgical patient consultations and planning; and distributes Puregraft line of products that is used to remove blood, lipids, and other components from adipose tissue.

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