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

Establishment Labs Holdings Inc. (NASDAQ:ESTA) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 4,930,000 shares, an increase of 8.1% from the March 15th total of 4,560,000 shares. Currently, 21.7% of the company’s shares are sold short. Based on an average daily volume of 457,400 shares, the days-to-cover ratio is presently 10.8 days.

Establishment Labs Trading Up 0.8 %

Shares of ESTA traded up $0.41 during midday trading on Wednesday, hitting $52.15. The stock had a trading volume of 197,968 shares, compared to its average volume of 435,848. Establishment Labs has a 1 year low of $16.96 and a 1 year high of $77.55. The firm has a market cap of $1.43 billion, a PE ratio of -17.15 and a beta of 1.24. The company has a debt-to-equity ratio of 10.26, a current ratio of 3.06 and a quick ratio of 1.67. The stock’s 50 day moving average is $46.09 and its 200 day moving average is $36.07.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Wednesday, February 28th. The company reported ($0.79) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $31.60 million for the quarter, compared to the consensus estimate of $31.44 million. During the same quarter in the prior year, the firm posted ($0.55) earnings per share. The business’s revenue for the quarter was down 27.9% on a year-over-year basis. As a group, analysts forecast that Establishment Labs will post -1.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ESTA shares. Stephens reissued an “overweight” rating and set a $47.00 price objective on shares of Establishment Labs in a research note on Thursday, January 11th. Citigroup upped their target price on shares of Establishment Labs from $49.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price on shares of Establishment Labs from $46.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Mizuho upped their target price on shares of Establishment Labs from $50.00 to $65.00 and gave the company a “buy” rating in a report on Monday, April 1st. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Establishment Labs presently has an average rating of “Buy” and a consensus target price of $63.33.

Institutional Investors Weigh In On Establishment Labs

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in Establishment Labs by 3,244.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 602 shares of the company’s stock worth $41,000 after buying an additional 584 shares during the period. Baker Avenue Asset Management LP purchased a new position in Establishment Labs in the 3rd quarter worth about $59,000. Global Retirement Partners LLC purchased a new position in Establishment Labs in the 3rd quarter worth about $60,000. Lazard Asset Management LLC increased its stake in Establishment Labs by 104.5% in the 1st quarter. Lazard Asset Management LLC now owns 963 shares of the company’s stock worth $64,000 after buying an additional 492 shares during the period. Finally, Deutsche Bank AG bought a new position in Establishment Labs during the 4th quarter worth about $66,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

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.