Needham & Company LLC Reaffirms “Hold” Rating for Envista (NYSE:NVST)

Needham & Company LLC reaffirmed their hold rating on shares of Envista (NYSE:NVST) in a research note released on Thursday morning, Benzinga reports.

Several other analysts have also issued reports on NVST. Evercore ISI cut their price target on Envista from $24.00 to $19.00 and set an outperform rating for the company in a report on Tuesday, June 25th. The Goldman Sachs Group cut their price objective on Envista from $20.00 to $17.50 and set a sell rating for the company in a research note on Friday, May 3rd. Robert W. Baird decreased their target price 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. Stifel Nicolaus dropped their price target 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. Finally, Morgan Stanley downgraded shares of Envista from an overweight rating to an equal weight rating and decreased their price objective for the company from $33.00 to $21.00 in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Envista presently has an average rating of Hold and a consensus price target of $19.14.

Envista Stock Down 1.9 %

NYSE:NVST traded down $0.32 on Thursday, reaching $16.18. 4,447,904 shares of the stock traded hands, compared to its average volume of 2,442,982. The company’s fifty day simple moving average is $16.82 and its 200 day simple moving average is $19.45. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -22.47, a PEG ratio of 14.74 and a beta of 1.31. Envista has a 12 month low of $15.15 and a 12 month high of $33.84. 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 announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The company had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $646.88 million. Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Equities analysts predict that Envista will post 1.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp increased its position in Envista by 98.1% during the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after purchasing an additional 621 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Envista by 1,014.2% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 50,318 shares of the company’s stock worth $1,211,000 after buying an additional 45,802 shares during the period. Mutual of America Capital Management LLC boosted its position in Envista by 27.0% during the 4th quarter. Mutual of America Capital Management LLC now owns 194,055 shares of the company’s stock valued at $4,669,000 after acquiring an additional 41,284 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Envista during the 4th quarter valued at $1,157,000. Finally, Lecap Asset Management Ltd. purchased a new position in shares of Envista in the 4th quarter valued at $1,020,000.

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.