SCHEDULE: Brown Advisory Reports 7.02% Stake in Establishment Labs

Brown Advisory Inc. and its affiliates reported a combined beneficial ownership of 7.02% in Establishment Labs Holdings Inc. as of December 31, 2025.

Summary

• Brown Advisory Inc., a parent holding company, along with its direct and indirect subsidiaries, collectively reported beneficial ownership of 2,038,652 common shares of Establishment Labs Holdings Inc.
• This aggregate ownership represents 7.02% of the class of securities.
• The reporting entities include Brown Advisory Inc. (7.02%), Brown Investment Advisory & Trust Co. (0.03%), Brown Advisory LLC (6.98%), and Signature Financial Management, Inc. (0.003%).
• Brown Advisory Inc. holds sole voting power over 1,565,044 shares and shared dispositive power over 2,038,135 shares.
• Brown Advisory LLC holds sole voting power over 1,555,900 shares and shared dispositive power over 2,029,508 shares.
• The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this filing as moderately positive, as it confirms a significant and stable institutional ownership stake, which can be a positive signal of investor confidence.

Positives

• The disclosure of a significant institutional ownership stake by Brown Advisory and its affiliates may signal confidence in Establishment Labs Holdings Inc.'s long-term prospects.

Future Outlook

This filing does not contain any forward-looking statements or guidance from the issuer.

Management Comments

• Victor Fernandez, Chief Compliance Officer for Brown Advisory Inc., Brown Investment Advisory & Trust Co., Brown Advisory LLC, and Signature Financial Management, Inc., certified that the securities were acquired and are held in the ordinary course of business and were not acquired or held for the purpose or with the effect of changing or influencing the control of the issuer.

Industry Context

StockSavvy.ai notes that significant institutional ownership by reputable firms like Brown Advisory can be interpreted by the market as a vote of confidence in the company's strategic direction and operational stability within its sector.

Stakeholder Impact

• Shareholders may perceive the continued significant institutional ownership by Brown Advisory as a positive indicator of the company's value and stability.

Key Dates

Recommendation

The filing indicates a significant and stable institutional ownership stake by Brown Advisory and its affiliates in Establishment Labs Holdings Inc. While this signals institutional confidence, the filing itself does not provide sufficient financial or operational details to warrant a 'buy' or 'sell' recommendation. A 'hold' position is prudent, pending further fundamental analysis.

Keywords

Establishment Labs Holdings Inc., Brown Advisory, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Shares, Investment Advisory