Evercore ISI Cuts Envista (NYSE:NVST) Price Target to $18.00

Envista (NYSE:NVST) had its price objective trimmed by Evercore ISI from $19.00 to $18.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. The Goldman Sachs Group dropped their price target on shares of Envista from $20.00 to $17.50 and set a sell rating on the stock in a research note on Friday, May 3rd. Piper Sandler decreased their price target on shares of Envista from $18.00 to $16.00 and set a neutral rating on the stock in a research note on Tuesday, July 30th. Morgan Stanley cut Envista from an overweight rating to an equal weight rating and lowered their price objective for the stock from $33.00 to $21.00 in a report on Friday, April 26th. Stifel Nicolaus reduced their target price on Envista from $20.00 to $18.00 and set a buy rating for the company in a report on Tuesday, July 30th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Envista in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Envista currently has an average rating of Hold and a consensus target price of $19.14.

Envista Stock Performance

Shares of Envista stock traded down $0.32 during trading on Thursday, hitting $16.18. 4,446,997 shares of the company’s stock were exchanged, compared to its average volume of 2,442,982. Envista has a 52-week low of $15.15 and a 52-week high of $33.84. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.93 and a current ratio of 2.27. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -22.94, a PEG ratio of 14.74 and a beta of 1.31. The business has a 50-day simple moving average of $16.89 and a 200-day simple moving average of $19.54.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The firm had revenue of $633.10 million for the quarter, compared to analyst estimates of $646.88 million. During the same period in the previous year, the business earned $0.43 EPS. Envista’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts forecast that Envista will post 1.15 EPS for the current year.

Institutional Investors Weigh In On Envista

A number of hedge funds have recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in Envista by 2.0% in the 4th quarter. Retirement Systems of Alabama now owns 504,572 shares of the company’s stock valued at $12,140,000 after purchasing an additional 10,120 shares during the last quarter. Alberta Investment Management Corp grew its position in Envista by 41.7% in the fourth quarter. Alberta Investment Management Corp now owns 294,417 shares of the company’s stock worth $7,084,000 after acquiring an additional 86,700 shares during the period. Foundry Partners LLC purchased a new position in Envista in the fourth quarter worth approximately $3,571,000. Tweedy Browne Co LLC acquired a new stake in Envista during the first quarter worth $21,053,000. Finally, SG Americas Securities LLC raised its position in Envista by 3,271.2% in the first quarter. SG Americas Securities LLC now owns 144,522 shares of the company’s stock valued at $3,090,000 after purchasing an additional 140,235 shares during the period.

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.