Establishment Labs selloff overdone, in-line quarter good enough, says JPMorgan

Establishment Labs (ESTA) preannounced in-line Q4 results on Monday ahead of its presentation at the JPMorgan Healthcare Conference and announced the retirement of CEO Juan Jose, effective March 1, JPMorgan analyst Allen Gong tells investors in a research note. The firm says Jose’s exit is unrelated to anything structural at the company, and there will be a short list of candidates for the CEO role, though interim CEO Peter Caldini is favored currently as a likely successor, and believes momentum remains strong in the U.S. launch of Preserve. JPMorgan, which has an Overweight rating on the shares, says the selloff looks overdone and thinks the in-line quarter should be viewed as “good enough.”