Summit Partners Public Asset Management LLC lowered its holdings in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA – Free Report) by 8.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 391,850 shares of the company’s stock after selling 38,310 shares during the period. Summit Partners Public Asset Management LLC’s holdings in Establishment Labs were worth $28,558,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. ExodusPoint Capital Management LP acquired a new stake in shares of Establishment Labs in the fourth quarter valued at about $9,165,000. Mangrove Partners IM LLC acquired a new stake in shares of Establishment Labs in the fourth quarter valued at about $1,154,000. Sofinnova Investments Inc. increased its stake in shares of Establishment Labs by 163.0% in the fourth quarter. Sofinnova Investments Inc. now owns 28,366 shares of the company’s stock valued at $2,067,000 after buying an additional 17,579 shares during the period. Satovsky Asset Management LLC acquired a new stake in shares of Establishment Labs in the fourth quarter valued at about $288,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of Establishment Labs in the fourth quarter valued at about $835,000. Institutional investors own 72.91% of the company’s stock.
Insiders Place Their Bets
In other Establishment Labs news, Director Quiros Juan Jose Chacon sold 105,000 shares of Establishment Labs stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $75.42, for a total value of $7,919,100.00. Following the completion of the sale, the director directly owned 927,504 shares of the company’s stock, valued at approximately $69,952,351.68. The trade was a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 330,000 shares of company stock valued at $22,854,538 over the last ninety days. Insiders own 9.99% of the company’s stock.
Establishment Labs Price Performance
Establishment Labs (NASDAQ:ESTA – Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.10). Establishment Labs had a negative net margin of 19.05% and a negative return on equity of 218.77%. The firm had revenue of $59.88 million during the quarter, compared to analyst estimates of $57.40 million. During the same quarter in the previous year, the firm earned ($0.70) EPS. Establishment Labs’s quarterly revenue was up 44.7% on a year-over-year basis. On average, analysts expect that Establishment Labs Holdings Inc. will post -1.07 earnings per share for the current year.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the company. Mizuho increased their price target on Establishment Labs from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “sell (e+)” rating on shares of Establishment Labs in a report on Friday, March 27th. Citigroup restated a “neutral” rating on shares of Establishment Labs in a report on Wednesday, May 6th. Canaccord Genuity Group boosted their target price on shares of Establishment Labs from $85.00 to $90.00 and gave the company a “buy” rating in a report on Thursday, February 26th. Finally, TD Cowen restated a “buy” rating on shares of Establishment Labs in a report on Monday, June 8th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.14.
Check Out Our Latest Research Report on Establishment Labs
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.
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