Mar. 25 at 10:32 AM
$ESTA
Establishment Labs (NASDAQ: ESTA)
Buy (1)
ESG Score: 46/100
Price Target:
$95.00
Addressing the Noise: Rational Insider Selling, Rational Supply Renegotiation
THE TD COWEN INSIGHT
We believe the recent 10b5-1 selling by the founder and ex-CEO reflects disciplined diversification - not diminished confidence in the business. Additionally, silicone supply renegotiations should be balanced and unlikely to drive material margin disruption, preserving the GM expansion trajectory into 2027 and beyond. Recent investor concerns on these two items are overdone, in our opinion.