Envista (NYSE:NVST) Price Target Cut to $19.00 by Analysts at Robert W. Baird

Envista (NYSE:NVST) had its price target cut by Robert W. Baird from $22.00 to $19.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

NVST has been the subject of several other research reports. Morgan Stanley cut shares of Envista from an overweight rating to an equal weight rating and reduced their price objective for the company from $33.00 to $21.00 in a research note on Friday, April 26th. William Blair downgraded Envista from an outperform rating to a market perform rating in a research note on Thursday, February 8th. SVB Leerink started coverage on Envista in a research report on Monday, February 26th. They set an underperform rating and a $19.00 target price on the stock. TheStreet lowered Envista from a c rating to a d+ rating in a report on Wednesday, February 7th. Finally, Leerink Partnrs reiterated an underperform rating on shares of Envista in a research report on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Envista currently has a consensus rating of Hold and a consensus price target of $25.86.

Envista Stock Performance

NYSE:NVST traded down $0.81 during mid-day trading on Thursday, reaching $19.00. The stock had a trading volume of 2,239,656 shares, compared to its average volume of 1,979,218. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.90 and a current ratio of 2.27. The business has a 50 day simple moving average of $20.66 and a 200 day simple moving average of $22.53. Envista has a twelve month low of $18.09 and a twelve month high of $36.74. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of -26.40, a PEG ratio of 3.83 and a beta of 1.35.

Envista (NYSE:NVST) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. The business had revenue of $623.60 million during the quarter, compared to analysts’ expectations of $634.85 million. During the same quarter last year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. On average, analysts expect that Envista will post 1.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVST. Corbyn Investment Management Inc. MD lifted its stake in shares of Envista by 0.6% in the 4th quarter. Corbyn Investment Management Inc. MD now owns 73,899 shares of the company’s stock valued at $1,778,000 after purchasing an additional 462 shares in the last quarter. Alliance Wealth Advisors LLC UT grew its stake in Envista by 6.3% during the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 8,295 shares of the company’s stock valued at $231,000 after purchasing an additional 490 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Envista by 0.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 102,309 shares of the company’s stock worth $2,462,000 after buying an additional 569 shares during the last quarter. Securian Asset Management Inc. raised its stake in shares of Envista by 4.3% in the 4th quarter. Securian Asset Management Inc. now owns 14,465 shares of the company’s stock valued at $348,000 after purchasing an additional 590 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after buying an additional 621 shares in the last quarter.

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.