10 Best Cosmetic Surgery and Aesthetics Stocks To Buy

7. Establishment Labs Holdings Inc. (NASDAQ:ESTA)

Number of Hedge Fund Investors: 20

Revenue Growth Rate (year-over-year): 2.13%

The global medical technology company Establishment Labs Holdings Inc. (NASDAQ) is committed to women’s health and well-being in the areas of breast reconstruction and aesthetics. Selling in more than 85 countries, its “Motiva” implants provide a longer-lasting and natural feeling, but the FDA has not yet given them the go-ahead in the United States. The company’s Motiva product gained clearance in China, which is a major growth driver.

Establishment Labs Holdings Inc. (NASDAQ:ESTA) is one of the best cosmetic surgery and aesthetics stocks to buy according to hedge funds. The stock was held by 20 hedge funds that Insider Monkey examined in the first quarter of this year. Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management held the largest stake in the company, with 1,964,562 shares worth $99.100 million.

Establishment Labs Holdings Inc. (NASDAQ: NASDAQ:ESTA) received a boost in price target in April from Mizuho Securities, which raised it from $50 to $65 while keeping a Buy rating on the stock. This change reflects the company’s expectation of a favorable FDA (Food and Drug Administration) review for its Motiva implants. Establishment Labs Holdings Inc. (NASDAQ:ESTA) has an average price target of $55 which implies an upside of over 14.11% from current levels.

Establishment Labs Holdings Inc. (NASDAQ: ESTA) released its financial results for the first quarter of 2024. The company’s worldwide sales were $37.2 million, which was 20.11% less than the same period last year. Revenue in 2024 is expected to grow 5% to 11% from 2023.

As of March 31, 2024, the company’s cash balance was $73.0 million, a remarkable 70.33% increase over the same quarter the previous year, demonstrating an improvement in financial position after consistently burning cash over the years. Establishment Labs, which hopes to get Motiva Implants approved by the FDA in 2024, showed promising 4-year findings from the Motiva U.S. IDE trial.