Establishment Labs (NASDAQ:ESTA) Trading Down 3.7% - Time to Sell?

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report) shares traded down 3.7% on Thursday . The company traded as low as $40.79 and last traded at $40.88. 100,327 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 385,940 shares. The stock had previously closed at $42.46.

Analyst Ratings Changes

Several brokerages have recently issued reports on ESTA. Citigroup increased their price objective on shares of Establishment Labs from $45.00 to $50.00 and gave the stock a "neutral" rating in a research report on Tuesday, October 1st. BTIG Research increased their target price on Establishment Labs from $62.00 to $65.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Finally, Stephens raised Establishment Labs to a "strong-buy" rating in a research note on Monday, December 2nd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $60.60.

Establishment Labs Stock Down 8.3 %

The stock has a market capitalization of $1.09 billion, a P/E ratio of -15.09 and a beta of 1.16. The firm's 50-day simple moving average is $43.68 and its 200 day simple moving average is $43.94. The company has a debt-to-equity ratio of 5.94, a quick ratio of 2.29 and a current ratio of 3.62.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. First Turn Management LLC acquired a new stake in shares of Establishment Labs in the 2nd quarter valued at approximately $16,812,000. Sofinnova Investments Inc. grew its position in shares of Establishment Labs by 204.1% in the 2nd quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company's stock valued at $19,505,000 after acquiring an additional 288,082 shares during the period. Divisadero Street Capital Management LP acquired a new position in shares of Establishment Labs during the 2nd quarter worth about $5,829,000. Millennium Management LLC raised its holdings in shares of Establishment Labs by 49.8% in the 2nd quarter. Millennium Management LLC now owns 273,605 shares of the company's stock valued at $12,433,000 after purchasing an additional 90,943 shares during the period. Finally, Rice Hall James & Associates LLC lifted its stake in Establishment Labs by 10.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 793,300 shares of the company's stock valued at $34,326,000 after purchasing an additional 76,959 shares during the last quarter. 72.91% of the stock is owned by institutional investors and hedge funds.

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.