Envista (NYSE:NVST) Hits New 52-Week Low on Analyst Downgrade

Envista Holdings Co. (NYSE:NVST) shares hit a new 52-week low during trading on Wednesday after Evercore ISI lowered their price target on the stock from $24.00 to $19.00. Evercore ISI currently has an outperform rating on the stock. Envista traded as low as $15.92 and last traded at $16.16, with a volume of 381228 shares. The stock had previously closed at $16.00.

A number of other brokerages have also weighed in on NVST. JPMorgan Chase & Co. lowered their price target on shares of Envista from $29.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. SVB Leerink initiated coverage on shares of Envista in a report on Monday, February 26th. They issued an “underperform” rating and a $19.00 price target for the company. The Goldman Sachs Group lowered their price target on shares of Envista from $20.00 to $17.50 and set a “sell” rating for the company in a report on Friday, May 3rd. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $33.00 to $21.00 in a report on Friday, April 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Envista in a report on Monday, June 3rd. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $24.86.

Institutional Investors Weigh In On Envista

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NVST. Envestnet Asset Management Inc. increased its stake in Envista by 276.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 175,141 shares of the company’s stock valued at $4,883,000 after buying an additional 128,656 shares during the last quarter. Algert Global LLC acquired a new position in shares of Envista during the 3rd quarter worth about $748,000. Itau Unibanco Holding S.A. acquired a new position in shares of Envista during the 3rd quarter worth about $47,000. Gotham Asset Management LLC acquired a new position in shares of Envista during the 3rd quarter worth about $1,248,000. Finally, United Services Automobile Association increased its stake in shares of Envista by 6.8% during the 3rd quarter. United Services Automobile Association now owns 11,365 shares of the company’s stock worth $317,000 after purchasing an additional 726 shares during the last quarter.

Envista Stock Down 0.2 %

The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of -22.89, a price-to-earnings-growth ratio of 13.29 and a beta of 1.34. The firm’s 50 day moving average price is $18.55 and its two-hundred day moving average price is $21.13. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.34.

Envista (NYSE:NVST) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The firm had revenue of $623.60 million for the quarter, compared to analyst estimates of $634.85 million. Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Sell-side analysts anticipate that Envista Holdings Co. will post 1.2 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.