Envista (NYSE:NVST) Announces Earnings Results

Envista (NYSE:NVST) posted its earnings results on Wednesday. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03, Briefing.com reports. The business had revenue of $601.00 million for the quarter, compared to analysts’ expectations of $590.34 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share.

Envista Stock Performance

NYSE NVST traded up $2.10 during trading hours on Thursday, hitting $21.33. The company had a trading volume of 3,823,055 shares, compared to its average volume of 2,421,491. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. Envista has a fifty-two week low of $15.15 and a fifty-two week high of $25.64. The business has a fifty day simple moving average of $18.54 and a 200-day simple moving average of $18.04. The firm has a market cap of $3.67 billion, a P/E ratio of -2.77 and a beta of 1.32.

Insider Activity at Envista

In other news, CFO Eric D. Hammes purchased 24,532 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $16.33 per share, for a total transaction of $400,607.56. Following the completion of the purchase, the chief financial officer now owns 24,532 shares of the company’s stock, valued at $400,607.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NVST has been the topic of a number of recent analyst reports. Wells Fargo & Company started coverage on shares of Envista in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Piper Sandler reduced their target price on Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Bank of America dropped their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Thursday. Finally, Stifel Nicolaus increased their price target on shares of Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $20.63.

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.