Establishment Labs (NASDAQ:ESTA) Trading Up 10.1% - Still a Buy?

Establishment Labs Holdings Inc. (NASDAQ:ESTA - Get Free Report)'s stock price shot up 10.1% during trading on Thursday . The stock traded as high as $33.51 and last traded at $33.21. 434,547 shares traded hands during trading, a decline of 33% from the average session volume of 644,690 shares. The stock had previously closed at $30.16.

Analysts Set New Price Targets

Separately, Stephens upgraded 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 assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $60.60.

Establishment Labs Price Performance

The company has a 50 day simple moving average of $38.72 and a 200 day simple moving average of $41.46. The company has a quick ratio of 2.29, a current ratio of 3.62 and a debt-to-equity ratio of 5.94. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of -13.98 and a beta of 1.12.

Institutional Investors Weigh In On Establishment Labs

Several institutional investors and hedge funds have recently modified their holdings of ESTA. Toronto Dominion Bank purchased a new stake in shares of Establishment Labs in the fourth quarter worth about $24,879,000. Brown Advisory Inc. boosted its position in shares of Establishment Labs by 23.1% in the fourth quarter. Brown Advisory Inc. now owns 2,338,369 shares of the company's stock worth $107,729,000 after buying an additional 438,057 shares during the period. Capital Research Global Investors boosted its position in shares of Establishment Labs by 29.3% in the fourth quarter. Capital Research Global Investors now owns 1,911,525 shares of the company's stock worth $88,064,000 after buying an additional 433,484 shares during the period. Voya Investment Management LLC boosted its position in shares of Establishment Labs by 7,249.5% in the fourth quarter. Voya Investment Management LLC now owns 408,262 shares of the company's stock worth $18,809,000 after buying an additional 402,707 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Establishment Labs by 96.9% in the fourth quarter. Millennium Management LLC now owns 711,691 shares of the company's stock worth $32,788,000 after buying an additional 350,213 shares during the period. Hedge funds and other institutional investors own 72.91% of the company's stock.

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.