Envista (NYSE:NVST) Hits New 1-Year Low Following Analyst Downgrade

Envista Holdings Co. (NYSE:NVST) shares reached a new 52-week low during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $22.00 to $19.00. Robert W. Baird currently has a neutral rating on the stock. Envista traded as low as $18.09 and last traded at $19.99, with a volume of 486140 shares trading hands. The stock had previously closed at $19.75.

A number of other research firms have also recently issued reports on NVST. SVB Leerink began coverage on Envista in a research report on Monday, February 26th. They set an “underperform” rating and a $19.00 price objective for the company. UBS Group assumed coverage on Envista in a report on Friday, January 5th. They set a “neutral” rating and a $26.00 target price on the stock. Jefferies Financial Group lowered Envista from a “buy” rating to a “hold” rating and cut their target price for the company from $30.00 to $23.00 in a report on Friday, February 9th. Leerink Partnrs restated an “underperform” rating on shares of Envista in a report on Monday, February 26th. Finally, William Blair lowered Envista from an “outperform” rating to a “market perform” rating in a report on Thursday, February 8th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Envista currently has an average rating of “Hold” and a consensus price target of $27.09.

Hedge Funds Weigh In On Envista

A number of institutional investors have recently made changes to their positions in the business. Dakota Wealth Management increased its stake in Envista by 11.5% during the third quarter. Dakota Wealth Management now owns 8,613 shares of the company’s stock valued at $240,000 after acquiring an additional 890 shares during the period. Raymond James & Associates bought a new position in Envista during the third quarter valued at about $1,236,000. Verdence Capital Advisors LLC increased its stake in Envista by 27.2% during the third quarter. Verdence Capital Advisors LLC now owns 10,288 shares of the company’s stock valued at $287,000 after acquiring an additional 2,198 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Envista by 20.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,884 shares of the company’s stock valued at $889,000 after acquiring an additional 5,342 shares during the period. Finally, Strs Ohio increased its stake in Envista by 19.4% during the third quarter. Strs Ohio now owns 46,989 shares of the company’s stock valued at $1,310,000 after acquiring an additional 7,633 shares during the period.

Envista Stock Down 0.9 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.23 and a quick ratio of 1.90. The stock has a market capitalization of $3.36 billion, a P/E ratio of -31.23, a price-to-earnings-growth ratio of 3.72 and a beta of 1.35. The firm has a 50 day moving average of $20.80 and a 200-day moving average of $22.59.

Envista (NYSE:NVST) last released its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The company had revenue of $645.60 million for the quarter, compared to analyst estimates of $638.37 million. Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts expect that Envista Holdings Co. will post 1.41 earnings per share for the current fiscal year.

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.