BTIG analyst Sean Lavin maintained a Buy rating on Establishment Labs Holdings Inc (ESTA) yesterday and set a price target of $40. The company’s shares closed yesterday at $26.54.
Lavin observed:
“Establishment reported impressive Q1 sales of ~$21M, besting consensus of $18M. Heading into the quarter, we felt there was a very strong likelihood of a beat but the magnitude of the sequential bump (27%) was surprising. We are encouraged that quarterly improvement was spurred by strong underlying demand in W. Europe, Brazil, and S. Korea – less so, it seems from any pull forward benefit in Q1. Even with a strong start, guidance was set at $80-84M for FY19, implying little improvement over Q1 results. We understand the conservatism around quarterly lumpiness and seasonality, but we still see a few areas that can drive upside, particularly in the second half: 1) the ramp in 2) ongoing transition to direct sales, and 3) share gains in W. Europe following the fall-out of textured implants. We model FY19 revenue above guidance at $86M.”
According to TipRanks.com, Lavin is a 4-star analyst with an average return of 5.9% and a 53.7% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Helius Medical Technologies, Tactile Systems Technology, and Obalon Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Establishment Labs Holdings Inc with a $39 average price target.
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Based on Establishment Labs Holdings Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $10.51 million. In comparison, last year the company had a GAAP net loss of $6.53 million.
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Establishment Labs Holdings, Inc. engages in the design, development, manufacture, and marketing of silicone breast implants. It offers its products under Motiva Implants brand. The company was founded by Juan Jose Chacon-Quiros in 2013 and is headquartered in Alajuela, Costa Rica.
