ESTABLISHMENT LABS HLDGS INC ESTA
COM · Common Stock · CUSIP G31249108
- SectorHealth care
- IndustryOrthopedic, Prosthetic & Surgical Appliances & Supplies
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 27.9m as of 2024-08-06, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $45.43. Options: 7 managers hold calls ($6.9m notional), 8 hold puts ($7.6m).
Trends to Q2 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 94 |
| Q4 2022 | 103 |
| Q1 2023 | 112 |
| Q2 2023 | 109 |
| Q3 2023 | 107 |
| Q4 2023 | 100 |
| Q1 2024 | 119 |
| Q2 2024 | 124 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 56 | 42 |
| Q1 2023 | 62 | 43 |
| Q2 2023 | 57 | 50 |
| Q3 2023 | 52 | 46 |
| Q4 2023 | 54 | 61 |
| Q1 2024 | 76 | 49 |
| Q2 2024 | 69 | 54 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $53.4m | $3.2m | 0.06 |
| Q4 2023 | $75.2m | $22.4m | 0.30 |
| Q1 2024 | $66.7m | $45.3m | 0.68 |
| Q2 2024 | $6.9m | $7.6m | 1.11 |
Biggest buyers
| Nantahala Capital Management, LLC | Added | +3.1m |
| First Turn Management, LLC | New | +370.0k |
| BOOTHBAY FUND MANAGEMENT, LLC | Added | +334.9k |
| FINDELL CAPITAL MANAGEMENT LLC | Added | +326.1k |
| Avidity Partners Management LP | Added | +306.0k |
| Sofinnova Investments, Inc. | Added | +288.1k |
| Balyasny Asset Management L.P. | New | +265.9k |
| EAGLE ASSET MANAGEMENT INC | New | +140.5k |
| Divisadero Street Capital Management, LP | New | +128.3k |
| Mudita Advisors LLP | Added | +113.9k |
Biggest sellers
| MORGAN STANLEY | Reduced | -1.4m |
| Point72 Asset Management, L.P. | Reduced | -554.9k |
| CITADEL ADVISORS LLC | Reduced | -500.8k |
| CITIGROUP INC | Sold out | -332.9k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Reduced | -253.6k |
| Caption Management, LLC | Sold out | -162.8k |
| BROWN ADVISORY INC | Reduced | -158.4k |
| KORNITZER CAPITAL MANAGEMENT INC /KS | Reduced | -109.2k |
| BARCLAYS PLC | Reduced | -108.5k |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -92.4k |
Biggest calls
| FINDELL CAPITAL MANAGEMENT LLC | Reduced | $2.3m50.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $2.1m45.3k shares |
| CITADEL ADVISORS LLC | Reduced | $1.8m40.0k shares |
| GROUP ONE TRADING LLC | Reduced | $254.5k5.6k shares |
| JANE STREET GROUP, LLC | Reduced | $236.3k5.2k shares |
| SIMPLEX TRADING, LLC | Reduced | $213.0k4.7k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.2m70.7k shares |
| CITADEL ADVISORS LLC | Reduced | $1.3m28.9k shares |
| JANE STREET GROUP, LLC | Reduced | $1.1m24.6k shares |
| SIMPLEX TRADING, LLC | Reduced | $749.0k16.5k shares |
| IMC-Chicago, LLC | Added | $708.9k15.6k shares |
| WOLVERINE TRADING, LLC | Reduced | $313.5k6.9k shares |
| GROUP ONE TRADING LLC | Reduced | $163.6k3.6k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| RTW INVESTMENTS, LP 13G · institution filed 2025-02-14 | 10.0% |
| JW Asset Management, LLC 13G · passive new · filed 2026-07-31 | 9.2% |
| Qatar Investment Authority 13G · passive investor filed 2025-05-13 | 8.3% |
| BlackRock, Inc. 13G · institution new · filed 2026-07-28 | 5.4% |
| BROWN ADVISORY INC 13G · institution -1.6 pts · filed 2026-05-15 | 5.4% |
Fell to 5% or below in the last year: Chacon Quiros Juan Jose (4.9%, 2026-02-19), Nantahala Capital Management, LLC (3.5%, 2026-02-13)
Insider purchases and sales in Q2 2024
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 1 | $254.2k | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 1 | $22.5k | 0 | — | — |
| Q4 2023 | 2 | $214.1k | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| Nantahala Capital Management, LLC 11.53% of their portfolio | 5.0m $228.4m | Added +3.1m |
| JW Asset Management, LLC 59.77% of their portfolio | 3.2m $145.1m | Unchanged |
| RTW INVESTMENTS, LP 1.88% of their portfolio | 2.7m $121.6m | Unchanged |
| BROWN ADVISORY INC 0.13% of their portfolio | 2.2m $98.2m | Reduced -158.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.8m $82.7m | Reduced -76.8k |
| FINDELL CAPITAL MANAGEMENT LLC 25.21% of their portfolio | 1.1m $50.5m | Added +326.1k |
| Capital Research Global Investors 0.01% of their portfolio | 1.0m $45.5m | Added +99.2k |
| COWEN AND COMPANY, LLC 1.18% of their portfolio | 939.9k $42.7m | Unchanged |
| RICE HALL JAMES & ASSOCIATES, LLC 1.95% of their portfolio | 716.3k $32.6m | Reduced -21.7k |
| MORGAN STANLEY 0.00% of their portfolio | 694.0k $31.5m | Reduced -1.4m |
| Polar Capital Holdings Plc 0.15% of their portfolio | 546.5k $24.8m | Unchanged |
| Avidity Partners Management LP 1.03% of their portfolio | 531.0k $24.1m | Added +306.0k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.06% of their portfolio | 481.6k $21.9m | Added +60.8k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.60% of their portfolio | 432.0k $19.6m | Added +334.9k |
| BAMCO INC /NY/ 0.06% of their portfolio | 430.8k $19.6m | Added +1.0k |
| Sofinnova Investments, Inc. 1.23% of their portfolio | 429.2k $19.5m | Added +288.1k |
| First Turn Management, LLC 2.73% of their portfolio | 370.0k $16.8m | New |
| Mudita Advisors LLP 6.94% of their portfolio | 298.1k $13.5m | Added +113.9k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 273.6k $12.4m | Added +100.9k |
| Balyasny Asset Management L.P. 0.03% of their portfolio | 265.9k $12.1m | New |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.21% of their portfolio | 242.4k $11.0m | Reduced -109.2k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 231.7k $10.5m | Added +4.1k |
| PURA VIDA INVESTMENTS, LLC 12.64% of their portfolio | 230.1k $10.5m | Reduced -31.6k |
| Affinity Asset Advisors, LLC 1.60% of their portfolio | 223.4k $10.2m | Added +58.8k |
| SUMMIT PARTNERS PUBLIC ASSET MANAGEMENT, LLC 0.46% of their portfolio | 220.6k $10.0m | Added +54.3k |
| Redmile Group, LLC 0.59% of their portfolio | 213.0k $9.7m | Added +98.7k |
| CITADEL ADVISORS LLC 0.01% of their portfolio | 177.4k $8.1m | Reduced -500.8k |
| EAGLE ASSET MANAGEMENT INC 0.03% of their portfolio | 140.5k $6.1m | New |
| Divisadero Street Capital Management, LP 0.95% of their portfolio | 128.3k $5.8m | New |
| BlackRock Inc. 0.00% of their portfolio | 123.2k $5.6m | Reduced -1.8k |
| ExodusPoint Capital Management, LP 0.05% of their portfolio | 108.0k $4.9m | New |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.01% of their portfolio | 100.0k $4.5m | Reduced -253.6k |
| Union Square Park Capital Management, LLC 6.63% of their portfolio | 95.0k $4.3m | Added +35.0k |
| CWM, LLC 0.02% of their portfolio | 93.1k $4.2m | Reduced -22.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 86.8k $3.9m | Reduced -614 |
| VANGUARD GROUP INC 0.00% of their portfolio | 79.3k $3.6m | Added +1.5k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 76.4k $3.5m | Reduced -81.1k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 60.1k $2.7m | Added +37.9k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 57.1k $2.6m | Added +546 |
| Squarepoint Ops LLC 0.01% of their portfolio | 50.2k $2.3m | Added +5.7k |
| STATE STREET CORP 0.00% of their portfolio | 48.0k $2.2m | Added +1.0k |
| Magnetar Financial LLC 0.04% of their portfolio | 46.6k $2.1m | Reduced -7.9k |
| NorthRock Partners, LLC 0.08% of their portfolio | 45.3k $2.1m | Added +2.3k |
| Lighthouse Investment Partners, LLC 0.11% of their portfolio | 42.7k $1.9m | Added +28.0k |
| STABLEFORD CAPITAL II LLC 0.79% of their portfolio | 42.1k $2.0m | Added +11.3k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 40.6k $1.8m | Added +35.1k |
| Swiss National Bank 0.00% of their portfolio | 37.5k $1.7m | Unchanged |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.00% of their portfolio | 34.6k $1.6m | Reduced -47.6k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 34.4k $1.6m | Reduced -49.3k |
| LMR Partners LLP 0.03% of their portfolio | 32.9k $1.5m | Added +22.9k |
| BigSur Wealth Management LLC 0.40% of their portfolio | 29.0k $1.3m | Reduced -1 |
| CANTOR FITZGERALD, L. P. 0.26% of their portfolio | 28.9k $1.3m | Added +4.0k |
| OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.04% of their portfolio | 28.4k $1.3m | Reduced -10.0k |
| CenterBook Partners LP 0.08% of their portfolio | 27.9k $1.3m | Reduced -454 |
| Campbell & CO Investment Adviser LLC 0.10% of their portfolio | 26.1k $1.2m | New |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 25.4k $1.2m | Added +176 |
| GSA CAPITAL PARTNERS LLP 0.07% of their portfolio | 23.0k $1.0m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 21.8k $991.5k | Reduced -5.9k |
| Exome Asset Management LLC 0.88% of their portfolio | 21.7k $986.0k | New |
| Maxi Investments CY Ltd 0.21% of their portfolio | 20.0k $909.0k | Unchanged |
| Qube Research & Technologies Ltd 0.00% of their portfolio | 19.9k $903.7k | Added +12.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 19.4k $879.3k | Reduced -804 |
| Legal & General Group Plc 0.00% of their portfolio | 18.7k $850.3k | Added +2.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 17.2k $781.7k | Added +107 |
| Point72 Asset Management, L.P. 0.00% of their portfolio | 15.9k $722.2k | Reduced -554.9k |
| Soleus Capital Management, L.P. 0.06% of their portfolio | 15.0k $681.6k | New |
| Diametric Capital, LP 0.36% of their portfolio | 14.4k $655.6k | Added +5.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 13.0k $592.9k | New |
| Pathstone Holdings, LLC 0.00% of their portfolio | 13.0k $590.5k | Unchanged |
| Simplify Asset Management Inc. 0.05% of their portfolio | 12.9k $586.5k | Reduced -12.6k |
| STEPHENS INC /AR/ 0.01% of their portfolio | 12.5k $567.9k | Reduced -4.8k |
| BANTAMAC CAPITAL, LLC 0.32% of their portfolio | 11.9k $541.9k | Added +247 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 10.6k $483.2k | New |
| SIT INVESTMENT ASSOCIATES INC 0.01% of their portfolio | 10.6k $479.0k | Added +5.1k |
| Ensign Peak Advisors, Inc 0.00% of their portfolio | 10.2k $464.6k | Unchanged |
| SkyView Investment Advisors, LLC 0.07% of their portfolio | 9.2k $418.0k | New |
| Legato Capital Management LLC 0.05% of their portfolio | 8.5k $386.5k | Added +67 |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 8.4k $379.7k | Unchanged |
| Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.06% of their portfolio | 8.2k $372.6k | New |
| Engineers Gate Manager LP 0.01% of their portfolio | 8.2k $371.1k | New |
| CI INVESTMENTS INC. 0.00% of their portfolio | 8.0k $364.0k | Added +5.0k |
| HighTower Advisors, LLC 0.00% of their portfolio | 7.8k $353.0k | Added +2.2k |
| Nebula Research & Development LLC 0.06% of their portfolio | 7.7k $349.7k | New |
| Verition Fund Management LLC 0.00% of their portfolio | 7.7k $347.8k | New |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 7.4k $334.3k | Reduced -1.8k |
| MARSHALL WACE, LLP 0.00% of their portfolio | 7.0k $318.1k | Reduced -35.2k |
| Aquatic Capital Management LLC 0.01% of their portfolio | 6.7k $304.4k | Added +4.2k |
| SG Americas Securities, LLC 0.00% of their portfolio | 6.7k $303.0k | New |
| Handelsbanken Fonder AB 0.00% of their portfolio | 6.2k $282.0k | Added +800 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 6.2k $279.5k | Added +5.2k |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 5.3k $242.2k | Added +106 |
| Concurrent Investment Advisors, LLC 0.01% of their portfolio | 5.1k $230.6k | Reduced -100 |
| NKCFO LLC 0.12% of their portfolio | 5.0k $227.0k | New |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 4.8k $220.2k | Reduced -92.4k |
| RAYMOND JAMES & ASSOCIATES 0.00% of their portfolio | 4.5k $206.6k | New |
| UBS Group AG 0.00% of their portfolio | 3.5k $157.0k | Reduced -833 |
| BESSEMER GROUP INC 0.00% of their portfolio | 3.3k $149.0k | Unchanged |
| Twin Lakes Capital Management, LLC 0.09% of their portfolio | 2.9k $133.2k | Unchanged |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 2.7k $124.8k | Reduced -1.8k |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 2.0k $90.9k | New |