Stonepine Capital Management LLC Invests $3.25 Million in Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Stonepine Capital Management LLC bought a new position in Establishment Labs Holdings Inc. (NASDAQ:ESTA) in the 3rd quarter, Holdings Channel.com reports. The firm bought 75,000 shares of the company’s stock, valued at approximately $3,245,000. Establishment Labs comprises 2.1% of Stonepine Capital Management LLC’s portfolio, making the stock its 16th largest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Divisadero Street Capital Management LP acquired a new stake in shares of Establishment Labs in the second quarter valued at about $5,829,000. Principal Financial Group Inc. acquired a new stake in shares of Establishment Labs in the second quarter valued at about $593,000. Bayesian Capital Management LP acquired a new stake in shares of Establishment Labs in the first quarter valued at about $631,000. Sofinnova Investments Inc. lifted its stake in shares of Establishment Labs by 204.1% in the second quarter. Sofinnova Investments Inc. now owns 429,244 shares of the company’s stock valued at $19,505,000 after purchasing an additional 288,082 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Establishment Labs by 634.5% in the second quarter. Sei Investments Co. now owns 40,576 shares of the company’s stock valued at $1,844,000 after purchasing an additional 35,052 shares during the period. Institutional investors and hedge funds own 72.91% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on ESTA shares. BTIG Research raised their price objective on shares of Establishment Labs from $62.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, October 14th. JPMorgan Chase & Co. cut their target price on shares of Establishment Labs from $61.00 to $50.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Citigroup lifted their target price 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. Finally, Stephens restated an “overweight” rating and set a $68.00 target price on shares of Establishment Labs in a research report on Wednesday, August 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $60.60.

Establishment Labs Price Performance

ESTA traded up $0.02 during midday trading on Wednesday, reaching $45.59. 24,524 shares of the company’s stock were exchanged, compared to its average volume of 388,868. The stock has a market capitalization of $1.28 billion, a PE ratio of -17.66 and a beta of 1.20. Establishment Labs Holdings Inc. has a 1-year low of $22.05 and a 1-year high of $60.12. The company has a debt-to-equity ratio of 5.94, a current ratio of 3.62 and a quick ratio of 2.29. The business’s 50-day moving average price is $43.01 and its 200 day moving average price is $44.98.

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.