Principal Financial Group Inc. Purchases New Stake in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Principal Financial Group Inc. acquired a new position in shares of Establishment Labs Holdings Inc. (NASDAQ:ESTA) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,049 shares of the company’s stock, valued at approximately $593,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Concurrent Investment Advisors LLC purchased a new stake in shares of Establishment Labs in the first quarter worth approximately $263,000. SG Americas Securities LLC purchased a new stake in Establishment Labs in the 2nd quarter worth approximately $303,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new stake in shares of Establishment Labs during the 2nd quarter valued at $373,000. Bayesian Capital Management LP acquired a new stake in shares of Establishment Labs during the 1st quarter valued at $631,000. Finally, California State Teachers Retirement System grew its holdings in shares of Establishment Labs by 14.5% during the 1st quarter. California State Teachers Retirement System now owns 17,096 shares of the company’s stock valued at $870,000 after acquiring an additional 2,167 shares in the last quarter. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Insider Buying and Selling

In other Establishment Labs news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $45.01, for a total transaction of $174,008.66. Following the completion of the sale, the chief executive officer now directly owns 215,030 shares in the company, valued at $9,678,500.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 14,346 shares of company stock worth $647,806 in the last quarter. 11.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ESTA. Mizuho lifted their price objective on Establishment Labs from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. JPMorgan Chase & Co. reduced their price target on Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Stephens restated an “overweight” rating and issued a $68.00 price objective on shares of Establishment Labs in a report on Wednesday, August 7th. Finally, Citigroup lifted their target price on shares of Establishment Labs from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $56.60.

Establishment Labs Stock Performance

Shares of NASDAQ ESTA opened at $44.20 on Friday. The business’s 50-day simple moving average is $43.72 and its 200-day simple moving average is $47.56. The company has a debt-to-equity ratio of 4.30, a quick ratio of 2.91 and a current ratio of 4.44. Establishment Labs Holdings Inc. has a 52 week low of $16.96 and a 52 week high of $60.12. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -14.08 and a beta of 1.20.

Establishment Labs (NASDAQ:ESTA) last announced its earnings results on Tuesday, August 6th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). Establishment Labs had a negative return on equity of 220.67% and a negative net margin of 54.97%. The company had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.10 million. During the same period in the previous year, the company earned ($0.65) EPS. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, equities research analysts expect that Establishment Labs Holdings Inc. will post -2.2 earnings per share for the current fiscal year.

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.