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

Establishment Labs Holdings Inc. (NASDAQ:ESTA) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 5,216,520 shares, an increase of 23.6% from the March 15th total of 4,220,929 shares. Currently, 20.0% of the shares of the company are short sold. Based on an average daily volume of 542,248 shares, the short-interest ratio is presently 9.6 days.

Establishment Labs Price Performance

NASDAQ ESTA traded down $2.10 during midday trading on Thursday, hitting $64.51. The company had a trading volume of 839,204 shares, compared to its average volume of 501,246. The company has a market capitalization of $1.90 billion, a PE ratio of -37.07 and a beta of 1.08. The company has a current ratio of 3.04, a quick ratio of 2.00 and a debt-to-equity ratio of 10.51. The firm has a 50-day moving average price of $67.07 and a 200-day moving average price of $63.96. Establishment Labs has a twelve month low of $28.67 and a twelve month high of $83.31.

Establishment Labs (NASDAQ:ESTA) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.13. Establishment Labs had a negative return on equity of 201.79% and a negative net margin of 24.19%.The company had revenue of $64.62 million for the quarter, compared to analyst estimates of $63.80 million. During the same quarter last year, the company posted ($1.19) EPS. The company’s revenue for the quarter was up 45.2% compared to the same quarter last year. As a group, analysts anticipate that Establishment Labs will post -2.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Stephens lifted their price objective on Establishment Labs from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, February 25th. Wall Street Zen cut Establishment Labs from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Canaccord Genuity Group lifted their price objective on Establishment Labs from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Needham & Company LLC lifted their price objective on Establishment Labs from $84.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Citigroup dropped their price objective on Establishment Labs from $81.00 to $74.00 and set a “neutral” rating for the company in a report on Wednesday, March 11th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.86.

Insiders Place Their Bets

In related news, Director Quiros Juan Jose Chacon sold 3,575 shares of Establishment Labs stock in a transaction that occurred on Wednesday, March 25th. The stock was sold at an average price of $60.08, for a total transaction of $214,786.00. Following the completion of the sale, the director directly owned 1,220,004 shares of the company’s stock, valued at approximately $73,297,840.32. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.09% of the company’s stock.

Hedge Funds Weigh In On Establishment Labs

A number of institutional investors have recently modified their holdings of the business. MV Capital Management Inc. acquired a new position in shares of Establishment Labs during the 4th quarter worth $146,000. ADAR1 Capital Management LLC raised its holdings in shares of Establishment Labs by 89.0% during the 4th quarter. ADAR1 Capital Management LLC now owns 171,422 shares of the company’s stock worth $12,493,000 after buying an additional 80,734 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Establishment Labs during the 4th quarter worth $3,421,000. SummitTX Capital L.P. acquired a new position in shares of Establishment Labs during the 4th quarter worth $2,519,000. Finally, Tudor Investment Corp ET AL acquired a new position in shares of Establishment Labs during the 4th quarter worth $12,852,000. Institutional investors and hedge funds own 72.91% of the company’s stock.

About Establishment Labs

Establishment Labs Holdings Inc is a global medical technology company specializing in the design, development and manufacture of silicone gel breast implants for aesthetic and reconstructive surgery. The company’s proprietary portfolio is built around patient-focused safety, customization and innovation, offering solutions intended to enhance surgical outcomes and support clinical traceability.

The company’s flagship products fall under the Motiva® brand, which includes a range of ergonomic and round breast implants featuring SilkSurface® texturing and an embedded Q Inside® Safety microtransponder for unique implant identification.