Establishment Labs (NASDAQ:ESTA) Shares Down 6% - Should You Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report) was down 6% during mid-day trading on Tuesday . The stock traded as low as $31.14 and last traded at $31.69. Approximately 738,442 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 956,751 shares. The stock had previously closed at $33.71.

Analyst Upgrades and Downgrades

ESTA has been the subject of several analyst reports. BTIG Research boosted their price target on shares of Establishment Labs from $62.00 to $65.00 and gave the company a "buy" rating in a report on Monday, October 14th. Stephens upgraded shares of Establishment Labs to a "strong-buy" rating in a research report on Monday, December 2nd. Finally, Citigroup lifted their price target on Establishment Labs from $45.00 to $50.00 and gave the company a "neutral" rating in a research report on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $60.60.

Establishment Labs Stock Down 1.7 %

The firm has a market capitalization of $928.13 million, a price-to-earnings ratio of -12.85 and a beta of 1.15. The company has a current ratio of 3.62, a quick ratio of 2.29 and a debt-to-equity ratio of 5.94. The stock has a fifty day moving average of $43.75 and a 200-day moving average of $43.60.

Institutional Investors Weigh In On Establishment Labs

Several hedge funds have recently made changes to their positions in ESTA. Hood River Capital Management LLC acquired a new stake in Establishment Labs during the second quarter valued at $43,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Establishment Labs in the 3rd quarter worth $127,000. Nkcfo LLC acquired a new position in shares of Establishment Labs during the 2nd quarter worth about $227,000. Black Swift Group LLC bought a new position in Establishment Labs in the 3rd quarter worth approximately $312,000. Finally, Verition Fund Management LLC boosted its position in shares of Establishment Labs by 22.8% in the third quarter. Verition Fund Management LLC now owns 9,400 shares of the company's stock valued at $407,000 after acquiring an additional 1,746 shares during the period. Hedge funds and other institutional investors own 72.91% of the company's stock.

About Establishment Labs

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.