establishment Labs (NASDAQ:ESTA) Downgraded Citigroup to ‘Neutral’.

Citigroup lowered the company’s shares establishment Labs (NASDAQ:ESTA – Free Report) from a buy rating to neutral in a research note published on Wednesday, MarketBeat Ratings reports. Citigroup currently has a price target of $60.00 for the stock.

Several other research firms have also recently commented on ESTA. Mizuho increased their price target on Establishment Labs from $50.00 to $65.00 and gave the stock a “buy” in a report on Monday, April 1st. JPMorgan Chase & Co. increased their price target on Establishment Labs from $46.00 to $53.00 and gave the stock an outperform rating in a research note on Thursday, February 29th. One equity market research analyst rated the company’s shares with a hold rating, and four rated the company’s shares with a buy rating. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.00.

See our latest stock analysis on ESTA

Stock performance in establishment labs

On Wednesday, NASDAQ:ESTA opened at $53.30. The company has a debt to equity ratio of 3.38, a quick ratio of 2.73 and a current ratio of 4.24. establishment Labs has a fifty-two week low of $16.96 and a fifty-two week high of $73.00. The company has a market capitalization of $1.47 billion, a PE ratio of -16.97 and a beta of 1.23. The company has a 50-day moving average price of $51.91 and a 200-day moving average price of $39.08.

Establishment Labs (NASDAQ:ESTA – Get Free Report) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.58) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.07. The company had revenue of $37.17 million for the quarter, compared to analyst expectations of $35.61 million. Establishment Labs had a negative net margin of 53.12% and a negative return on equity of 206.05%. The company’s revenue for the quarter was down 20.1% compared to the same quarter last year. During the same quarter last year, the company saw EPS ($0.48). Equities research analysts predict that Establishment Labs will post earnings per share of -1.73 for the current year.

Hedge funds are paying attention to founding labs

Several institutional investors and hedge funds have recently increased or decreased their holdings in ESTA. Arizona State Retirement System increased its holdings in shares of Establishment Labs by 6.7% during the third quarter. Arizona State Retirement System now owns 4,763 shares of the company’s stock valued at $234,000 after acquiring an additional 297 shares in the last quarter. Baker Avenue Asset Management LP acquired a new position in shares of Establishment Labs during the third quarter worth approximately $59,000. JP Morgan Private Wealth Advisors LLC increased its position in shares of Establishment Labs by 28.9% during the 3rd quarter. JP Morgan Private Wealth Advisors LLC now owns 6,200 shares of the company’s stock valued at $304,000 after purchasing an additional 1,389 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of establishment Labs by 159.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,746 shares of the company’s stock valued at $135,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Clear Street Markets LLC bought a new position in Establishment Labs during the 3rd quarter worth approximately $88,000. Hedge funds and other institutional investors hold 72.91% of the company’s shares.

Establishment Labs company profile

(Get the free report)

establishment Labs Holdings Inc, a medical technology company, manufactures and sells medical devices for aesthetic and reconstructive plastic surgery. The company primarily offers breast implants filled with silicone gel under the Motiva Implants brand. It also offers gravity-sensitive round, soft, Motiva Ergonomix and Motiva Ergonomix2 silicone gel-filled breast implants; and Motiva Flora Tissue Expander, a breast tissue expander.

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