Establishment Labs (NASDAQ:ESTA) Trading Down 6% – Should You Sell?

Shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) fell 6% on Tuesday . The company traded as low as $31.14 and last traded at $31.69. 738,442 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 956,751 shares. The stock had previously closed at $33.71.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup raised their price target on shares of Establishment Labs from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 1st. Stephens upgraded Establishment Labs to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, BTIG Research upped their target price on shares of Establishment Labs from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Establishment Labs has a consensus rating of “Buy” and an average price target of $60.60.

Establishment Labs Price Performance

The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. The company’s 50 day simple moving average is $43.20 and its 200 day simple moving average is $43.47. The company has a market capitalization of $969.92 million, a PE ratio of -13.43 and a beta of 1.15.

Institutional Investors Weigh In On Establishment Labs

Several hedge funds and other institutional investors have recently bought and sold shares of ESTA. Hood River Capital Management LLC purchased a new position in Establishment Labs during the 2nd quarter worth $43,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Establishment Labs during the 3rd quarter worth approximately $127,000. Nkcfo LLC purchased a new position in shares of Establishment Labs in the 2nd quarter valued at approximately $227,000. Black Swift Group LLC purchased a new stake in shares of Establishment Labs during the third quarter worth approximately $312,000. Finally, Verition Fund Management LLC lifted its holdings in shares of Establishment Labs by 22.8% during the third quarter. Verition Fund Management LLC now owns 9,400 shares of the company’s stock worth $407,000 after purchasing an additional 1,746 shares during the period. 72.91% of the stock is currently owned by institutional investors and hedge funds.

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.