Envista (NYSE:NVST) PT Lowered to $19.00 at Bank of America

Envista (NYSE:NVST) had its target price cut by Bank of America from $22.00 to $19.00 in a research note released on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently issued reports on NVST. JPMorgan Chase & Co. cut Envista from an overweight rating to a neutral rating and cut their target price for the company from $23.00 to $16.00 in a research report on Thursday. Stifel Nicolaus reduced their price objective on shares of Envista from $20.00 to $18.00 and set a buy rating for the company in a research report on Tuesday, July 30th. Needham & Company LLC restated a hold rating on shares of Envista in a research note on Thursday. Piper Sandler decreased their price target on Envista from $18.00 to $16.00 and set a neutral rating for the company in a research report on Tuesday, July 30th. Finally, The Goldman Sachs Group cut their price objective on Envista from $20.00 to $17.50 and set a sell rating on the stock in a research report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $19.14.

Envista Trading Up 0.9 %

NVST stock traded up $0.15 during midday trading on Thursday, hitting $16.33. The stock had a trading volume of 488,766 shares, compared to its average volume of 2,430,293. The firm has a market cap of $2.81 billion, a P/E ratio of -22.47, a price-to-earnings-growth ratio of 14.74 and a beta of 1.31. Envista has a 1-year low of $15.15 and a 1-year high of $33.57. The business has a fifty day moving average price of $16.82 and a two-hundred day moving average price of $19.42. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.34.

Envista (NYSE:NVST) last posted its earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The business had revenue of $633.10 million for the quarter, compared to the consensus estimate of $646.88 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The company’s revenue was down 4.4% on a year-over-year basis. On average, sell-side analysts predict that Envista will post 1.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envista

Institutional investors have recently made changes to their positions in the business. Jupiter Asset Management Ltd. bought a new position in shares of Envista during the second quarter valued at about $69,534,000. Nuance Investments LLC boosted its stake in shares of Envista by 953.8% during the fourth quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock valued at $94,581,000 after purchasing an additional 3,558,031 shares during the period. Swedbank AB bought a new stake in Envista during the 1st quarter valued at $53,412,000. River Road Asset Management LLC bought a new stake in shares of Envista in the fourth quarter worth about $54,931,000. Finally, Franklin Resources Inc. lifted its holdings in Envista by 65.3% in the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock worth $126,606,000 after buying an additional 2,077,786 shares during the period.

Envista Company Profile

Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, markets, and sells dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies, and Equipment & Consumables. The Specialty Products & Technologies segment offers dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists and periodontists, and general dentist; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products.