NAS10030,779+0.91%S&P7,718+0.68%GOLD$4,173−0.69%BTC$84,152−0.83%VIX15.53−5.25%live tape · as of 19:08 UTC
The Screen · Healthcare · Medical Devices
Establishment Labs Holdings Inc.
ESTA · Nasdaq · USD · Market cap $1.9B · 1,004 employees
Establishment Labs Holdings Inc., a medical technology company, manufactures and markets medical devices for breast aesthetic and reconstructive plastic surgeries in Europe, the Middle East, Africa, Latin America, Asia,…
FAIL · Does not pass the screen
64.06 USD
Screen close, 2026-10-02 · not a live quote
Screened 2026-10-02 · the tape above runs as of 19:08 UTC · two dates, stated on purpose · verdict and workings shown in full · never trimmed
PRICE · FAIR-VALUE RANGE1M3M6MYTD1Y3Y5Y
What this means: price 64.06 against the desk's fair-value range, base estimate 53.16, over the last year.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price64.06 USD
Fair value53.16
Ethical score70.0/100
Our investment reviews on this name
2026-10-02Read Markdown67.74-5.4% to today ✓
2026-08-28Read Distribution72.45-11.6% to today ✓
2026-07-02Read Accumulation82.14-22.0% to today
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Establishment Labs Holdings Inc. holds its Markdown at $64.06. The statistical read favours the sellers, held for 25 days.
As held on the ledger · 2026-10-02
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 25 days
Price at the screen
$64.06
Valuation
N/A trailing · 1,067.67 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.05
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
74.05%
Below 33%
Interest-bearing debt is 74.0% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
0.00%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
42.86%
Below 49%
Money owed to the company is 42.9% of assets, under the 49% limit.
Pass
Revenue purity
0.20%
Below 5%
Only 0.2% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Falls Short, in Plain English
Establishment Labs's business is in a permissible area, but its interest-bearing debt is about 74% of the company, well over the ~33% line, so it does not pass on the financial screens.
Read as at 2026-10-02. It updates when the underlying figures move, and past reads are kept below.
Fair value range in USD, drawn from the 2026-10-02 screen. The gold marker is the market price at the same screen. The price runs 17.0% above the base estimate.
Third-party analyst targets: 9 covering, consensus Strong Buy. The average target sits +64% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-02 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Implants growing fast yet valuation defies gravity
Every time a surgeon fits a silicone implant after cancer treatment or an aesthetic choice in Latin America or Europe, Establishment Labs supplies the device. Revenue is rising 45% a year and the ethical screen clears without issue.
We pass for clear reasons. The shares trade at 1234 times forward earnings against a fair value half the current price, while margins sit at minus 19% and return on equity at minus 164%. Analyst targets sit higher still, yet the numbers show losses widening even as sales expand.
The risk is simple over-optimism. Strong growth in a medical niche does not erase the absence of profits or the wide gap between price and any reasonable value. Analysis, not advice.
The risks · The things to watch: it's a small-cap, so the share price can swing harder than the market; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
ESTA trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-02Markdown · changed$67.74-6.5%Entry 6
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 21% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 104%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (9 analysts) rates it strong buy, with a mean price target of $90.
The framework has shifted from accumulation to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 21.7% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 21% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 104%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (9 analysts) rates it strong buy, with a mean price target of $90.
2026-07-28Accumulation$92.58+12.7%Entry 4
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 12.7% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 21% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 104%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (9 analysts) rates it strong buy, with a mean price target of $90.
2026-07-18Accumulation$82.14+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 21% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 104%. Our forward projection puts the odds of a 10% gain over the next month near 34%. The street (9 analysts) rates it strong buy, with a mean price target of $90.
2026-07-03Accumulation$82.14+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$82.14Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
