Establishment Labs Holdings Inc. (NASDAQ: ESTA) experienced a significant surge in its stock price on Monday, reaching a new 52-week high of $78.25 during mid-day trading. The stock closed at $75.39, following a previous close of $76.00 and with a trading volume of 77,915 shares.
Analysts Boost Price Targets
Recent commentary from investment analysts has contributed to this upward momentum. Mizuho raised its price target for Establishment Labs from $85.00 to $90.00, maintaining an “outperform” rating as of December 17, 2023. On the other hand, Citigroup increased its target from $62.00 to $75.00 with a “neutral” rating noted in a research note dated December 11, 2023.
Among other notable upgrades, Needham & Company LLC reaffirmed a “buy” rating with a target of $84.00. JPMorgan Chase & Co. also increased its price objective from $71.00 to $80.00, designating the stock as “overweight.” Lastly, BTIG Research raised its target from $81.00 to $86.00, giving the stock a “buy” rating. Currently, six analysts rate the stock as a “buy,” while one has a “hold” rating and one a “sell” rating. According to MarketBeat, the consensus rating is “Moderate Buy” with an average target price of $78.86.
Institutional Investment Trends
Recent shifts in institutional holdings further illustrate the stock’s appeal. Nantahala Capital Management LLC increased its holdings by 11.1% in the third quarter, acquiring an additional 197,962 shares to reach a total of 1,973,492 shares valued at approximately $80.89 million. Similarly, Bamco Inc. NY raised its position by 30.2%, now owning 1,181,824 shares worth $48.44 million after acquiring 274,287 shares.
Other notable institutional movements include Tyro Capital Management LLC, which increased its stake by 1.0%, owning 1,077,456 shares valued at $44.17 million, and William Blair Investment Management LLC, which grew its stake by 17.6% to hold 1,017,543 shares worth $41.71 million. Goldman Sachs Group Inc. significantly raised its holdings by 117.4% in the fourth quarter, acquiring an additional 438,206 shares to own 811,536 shares worth $59.15 million.
Currently, institutional investors and hedge funds collectively hold 72.91% of Establishment Labs’ stock.
Establishment Labs Holdings Inc. is a global medical technology firm focused on the design, development, and manufacture of silicone gel breast implants for both aesthetic and reconstructive surgery. Their flagship product line, the Motiva® brand, emphasizes patient safety, customization, and innovation, offering solutions intended to enhance surgical outcomes and facilitate clinical traceability.
