Envista Holdings Co. Forecasted to Post Q3 2024 Earnings of $0.05 Per Share (NYSE:NVST)

Envista Holdings Co. (NYSE:NVST) – Analysts at William Blair lowered their Q3 2024 earnings estimates for Envista in a research report issued to clients and investors on Thursday, August 8th. William Blair analyst B. Vazquez now expects that the company will post earnings per share of $0.05 for the quarter, down from their prior forecast of $0.30. The consensus estimate for Envista’s current full-year earnings is $1.15 per share. William Blair also issued estimates for Envista’s FY2024 earnings at $0.71 EPS, Q1 2025 earnings at $0.25 EPS, Q2 2025 earnings at $0.28 EPS, Q3 2025 earnings at $0.26 EPS and Q4 2025 earnings at $0.32 EPS.

A number of other equities analysts also recently issued reports on the company. Robert W. Baird lowered their price objective on Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Evercore ISI dropped their price target on Envista from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. The Goldman Sachs Group reduced their price objective on Envista from $20.00 to $17.50 and set a “sell” rating for the company in a research note on Friday, May 3rd. Morgan Stanley lowered Envista from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $33.00 to $21.00 in a research report on Friday, April 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.14.

Envista Trading Up 4.7 %

Shares of NVST stock opened at $16.99 on Monday. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $2.92 billion, a P/E ratio of -23.60, a P/E/G ratio of 14.74 and a beta of 1.31. Envista has a twelve month low of $15.15 and a twelve month high of $33.57. The stock’s fifty day simple moving average is $16.74 and its 200 day simple moving average is $19.31.

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

Insiders Place Their Bets

In other news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the transaction, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at $400,607.56. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

Hedge funds have recently made changes to their positions in the stock. Sei Investments Co. raised its position in Envista by 20.4% in the 2nd quarter. Sei Investments Co. now owns 925,170 shares of the company’s stock worth $15,386,000 after purchasing an additional 157,048 shares during the period. Pacer Advisors Inc. grew its stake in shares of Envista by 11,202.8% during the second quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock valued at $48,018,000 after buying an additional 2,861,880 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Envista by 9,626.9% in the second quarter. Canada Pension Plan Investment Board now owns 252,900 shares of the company’s stock worth $4,206,000 after buying an additional 250,300 shares during the period. Palouse Capital Management Inc. increased its stake in Envista by 33.7% in the 2nd quarter. Palouse Capital Management Inc. now owns 10,411 shares of the company’s stock worth $173,000 after purchasing an additional 2,623 shares during the period. Finally, Seven Eight Capital LP bought a new stake in Envista in the second quarter valued at approximately $770,000.

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.