Affinity Asset Advisors LLC Increases Stock Holdings in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Affinity Asset Advisors LLC raised its position in Establishment Labs Holdings Inc. (NASDAQ:ESTA) by 4.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 223,407 shares of the company’s stock after acquiring an additional 8,818 shares during the period. Establishment Labs accounts for about 1.2% of Affinity Asset Advisors LLC’s portfolio, making the stock its 23rd largest position. Affinity Asset Advisors LLC’s holdings in Establishment Labs were worth $10,152,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Capital Research Global Investors purchased a new position in shares of Establishment Labs during the 1st quarter worth $45,888,000. William Blair Investment Management LLC grew its stake in shares of Establishment Labs by 14.5% in the second quarter. William Blair Investment Management LLC now owns 481,572 shares of the company’s stock valued at $21,883,000 after buying an additional 60,848 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of Establishment Labs by 28.4% in the 1st quarter. Bamco Inc. NY now owns 429,775 shares of the company’s stock valued at $21,876,000 after buying an additional 95,000 shares during the period. Sofinnova Investments Inc. lifted its stake in Establishment Labs by 204.1% during the 2nd quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock worth $19,505,000 after acquiring an additional 288,082 shares in the last quarter. Finally, First Turn Management LLC purchased a new position in Establishment Labs during the 2nd quarter valued at about $16,812,000. Hedge funds and other institutional investors own 72.91% of the company’s stock.

Insider Activity at Establishment Labs

In related news, CEO Quiros Juan Jose Chacon sold 3,866 shares of the stock in a transaction on 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 owns 215,030 shares in the company, valued at approximately $9,678,500.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 14,346 shares of company stock valued at $647,806 over the last ninety days. Insiders own 11.44% of the company’s stock.

Establishment Labs Stock Down 0.9 %

Establishment Labs stock opened at $39.77 on Wednesday. The stock’s fifty day moving average is $43.33 and its two-hundred day moving average is $47.46. Establishment Labs Holdings Inc. has a 1-year low of $16.96 and a 1-year high of $60.12. 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 (NASDAQ:ESTA) last announced its quarterly 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). The business had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.10 million. Establishment Labs had a negative net margin of 54.97% and a negative return on equity of 220.67%. The business’s revenue for the quarter was down 9.2% compared to the same quarter last year. During the same period last year, the company earned ($0.65) earnings per share. On average, equities research analysts anticipate that Establishment Labs Holdings Inc. will post -2.2 EPS for the current fiscal year.

Analyst Ratings Changes

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

Establishment Labs 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.