Envista (NYSE:NVST) Shares Gap Up After Analyst Upgrade

Shares of Envista Holdings Co. (NYSE:NVST) gapped up prior to trading on Monday after Evercore ISI raised their price target on the stock from $18.00 to $23.00. The stock had previously closed at $19.00, but opened at $19.60. Evercore ISI currently has an outperform rating on the stock. Envista shares last traded at $19.62, with a volume of 283,897 shares changing hands.

NVST has been the topic of a number of other reports. Robert W. Baird reduced their price objective on shares of Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. JPMorgan Chase & Co. downgraded Envista from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Piper Sandler dropped their price objective on Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Bank of America decreased their target price on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Stifel Nicolaus dropped their price target on Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.59.

Insider Transactions at Envista

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $16.33 per share, with a total value of $400,607.56. Following the transaction, the chief financial officer now owns 24,532 shares in the company, valued at approximately $400,607.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Envista

A number of hedge funds have recently added to or reduced their stakes in NVST. Versant Capital Management Inc lifted its holdings in shares of Envista by 1,420.3% in the second quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock valued at $52,000 after purchasing an additional 2,940 shares in the last quarter. Innealta Capital LLC bought a new position in Envista during the 2nd quarter valued at $78,000. Summit Securities Group LLC purchased a new position in Envista during the 2nd quarter worth $85,000. Signaturefd LLC boosted its holdings in Envista by 85.9% during the 2nd quarter. Signaturefd LLC now owns 5,345 shares of the company’s stock worth $89,000 after acquiring an additional 2,470 shares during the last quarter. Finally, TFO Wealth Partners LLC grew its stake in shares of Envista by 64,777.8% in the 4th quarter. TFO Wealth Partners LLC now owns 5,839 shares of the company’s stock worth $140,000 after acquiring an additional 5,830 shares in the last quarter.

Envista Price Performance

The company has a market capitalization of $3.24 billion, a P/E ratio of -26.17 and a beta of 1.31. The business’s 50-day moving average is $17.49 and its two-hundred day moving average is $18.46. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47.

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 4.86% and a negative net margin of 52.25%. The firm had revenue of $633.10 million for the quarter, compared to the consensus estimate of $646.88 million. During the same period in the prior year, the business earned $0.43 EPS. Envista’s quarterly revenue was down 4.4% compared to the same quarter last year. As a group, analysts predict that Envista Holdings Co. will post 0.69 earnings per share for the current year.

About Envista

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.