TD Cowen analyst Josh Jennings reiterated a Buy rating on Establishment Labs Holdings yesterday and set a price target of $60.00.
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Josh Jennings has given his Buy rating due to a combination of factors including Establishment Labs Holdings’s strong financial performance and promising market trends. The company reported a notable revenue increase in the second quarter, surpassing expectations with $51.2 million, driven largely by the US Motiva sales exceeding their guidance. This positive momentum is expected to continue, with the company raising its full-year guidance and projecting further growth in the coming quarters.
Furthermore, despite some challenges such as macroeconomic headwinds in China, Establishment Labs Holdings has shown resilience by adjusting its guidance and still maintaining a positive outlook. The company’s performance in other regions, such as EMEA and Latin America, also supports the optimistic view, with significant contributions to overall sales. These factors combined suggest a strong growth trajectory, justifying the Buy rating.
In another report released yesterday, Jefferies also maintained a Buy rating on the stock with a $63.00 price target.
Based on the recent corporate insider activity of 35 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ESTA in relation to earlier this year.