Envista (NYSE:NVST) Downgraded by Morgan Stanley to Equal Weight

Morgan Stanley downgraded shares of Envista (NYSE:NVST) from an overweight rating to an equal weight rating in a research note published on Friday, Marketbeat.com reports. Morgan Stanley currently has $21.00 price objective on the stock, down from their previous price objective of $33.00.

NVST has been the subject of several other research reports. TheStreet cut Envista from a c rating to a d+ rating in a report on Wednesday, February 7th. SVB Leerink initiated coverage on Envista in a report on Monday, February 26th. They issued an underperform rating and a $19.00 price objective for the company. Leerink Partnrs reiterated an underperform rating on shares of Envista in a report on Monday, February 26th. William Blair cut Envista from an outperform rating to a market perform rating in a report on Thursday, February 8th. Finally, UBS Group started coverage on Envista in a report on Friday, January 5th. They set a neutral rating and a $26.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $27.90.

Envista Trading Up 1.8 %

Shares of Envista stock opened at $20.39 on Friday. The stock’s fifty day simple moving average is $20.95 and its 200 day simple moving average is $22.72. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33. Envista has a 12 month low of $18.95 and a 12 month high of $38.68.

Envista (NYSE:NVST) last released its earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The firm had revenue of $645.60 million for the quarter, compared to the consensus estimate of $638.37 million. Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. Envista’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. As a group, equities research analysts expect that Envista will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Envista

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Corbyn Investment Management Inc. MD grew its stake in shares of Envista by 0.6% during the fourth quarter. Corbyn Investment Management Inc. MD now owns 73,899 shares of the company’s stock worth $1,778,000 after buying an additional 462 shares during the last quarter. Alliance Wealth Advisors LLC UT grew its stake in shares of Envista by 6.3% during the third quarter. Alliance Wealth Advisors LLC UT now owns 8,295 shares of the company’s stock worth $231,000 after buying an additional 490 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Envista by 0.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 102,309 shares of the company’s stock worth $2,462,000 after purchasing an additional 569 shares during the last quarter. Securian Asset Management Inc. grew its stake in shares of Envista by 4.3% in the fourth quarter. Securian Asset Management Inc. now owns 14,465 shares of the company’s stock worth $348,000 after purchasing an additional 590 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Envista by 98.1% in the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares during the last quarter.

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.