Envista (NYSE:NVST) Shares Gap Down to $20.02

Envista Holdings Co. (NYSE:NVST) gapped down prior to trading on Friday . The stock had previously closed at $20.02, but opened at $19.48. Envista shares last traded at $20.22, with a volume of 152,859 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. William Blair lowered shares of Envista from an “outperform” rating to a “market perform” rating in a report on Thursday, February 8th. TheStreet lowered shares of Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. SVB Leerink assumed coverage on shares of Envista in a report on Monday, February 26th. They set an “underperform” rating and a $19.00 price objective on the stock. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $33.00 to $21.00 in a report on Friday. Finally, Jefferies Financial Group lowered shares of Envista from a “buy” rating to a “hold” rating and dropped their price objective for the company from $30.00 to $23.00 in a report on Friday, February 9th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $27.90.

Envista Stock Performance

The company has a market cap of $3.50 billion, a PE ratio of -32.82, a PEG ratio of 3.79 and a beta of 1.35. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.90 and a current ratio of 2.23. The firm’s 50 day moving average is $21.00 and its 200-day moving average is $22.76.

Envista (NYSE:NVST) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. The business had revenue of $645.60 million for the quarter, compared to analysts’ expectations of $638.37 million. During the same period in the prior year, the company posted $0.52 EPS. The firm’s revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Envista Holdings Co. will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Envista

Several hedge funds have recently made changes to their positions in the company. Verdence Capital Advisors LLC purchased a new stake in shares of Envista in the 1st quarter valued at approximately $252,000. New York State Teachers Retirement System lifted its holdings in shares of Envista by 3.8% in the 1st quarter. New York State Teachers Retirement System now owns 49,991 shares of the company’s stock worth $1,069,000 after acquiring an additional 1,812 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Envista by 2.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 49,400 shares of the company’s stock worth $1,056,000 after acquiring an additional 1,300 shares during the last quarter. Canvas Wealth Advisors LLC lifted its holdings in shares of Envista by 83.2% in the 1st quarter. Canvas Wealth Advisors LLC now owns 28,188 shares of the company’s stock worth $552,000 after acquiring an additional 12,799 shares during the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Envista by 106.3% in the 1st quarter. Raymond James & Associates now owns 842,110 shares of the company’s stock worth $18,004,000 after acquiring an additional 433,892 shares during 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.