Envista (NYSE:NVST) Shares Gap Down – Here’s Why

Shares of Envista Holdings Co. (NYSE:NVST) gapped down prior to trading on Tuesday . The stock had previously closed at $15.62, but opened at $15.26. Envista shares last traded at $15.44, with a volume of 98,443 shares trading hands.

Analyst Ratings Changes

NVST has been the subject of several recent research reports. UBS Group lowered their price target on shares of Envista from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. dropped their price target on shares of Envista from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. New Street Research set a $19.00 price target on Envista in a report on Thursday, March 6th. Piper Sandler increased their price objective on Envista from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.18.

Envista Stock Performance

The company has a fifty day moving average price of $18.31 and a two-hundred day moving average price of $19.33. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of -2.37, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.04 and a quick ratio of 1.76.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. As a group, equities research analysts expect that Envista Holdings Co. will post 1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. M&T Bank Corp grew its holdings in shares of Envista by 42.9% in the 3rd quarter. M&T Bank Corp now owns 15,945 shares of the company’s stock worth $315,000 after acquiring an additional 4,787 shares during the last quarter. Geode Capital Management LLC raised its holdings in Envista by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,895,653 shares of the company’s stock worth $57,233,000 after buying an additional 71,435 shares during the period. Sanctuary Advisors LLC purchased a new stake in Envista during the third quarter valued at about $228,000. Franklin Resources Inc. boosted its holdings in shares of Envista by 26.5% in the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company’s stock worth $78,480,000 after buying an additional 830,861 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of Envista by 30.5% in the fourth quarter. GAMMA Investing LLC now owns 2,304 shares of the company’s stock worth $44,000 after acquiring an additional 538 shares in the last quarter.

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.