Envista (NYSE:NVST) Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Envista (NYSE:NVST) from an overweight rating to a neutral rating in a research report report published on Thursday morning, Marketbeat reports. They currently have $16.00 price target on the stock, down from their prior price target of $23.00.

Several other research analysts have also recently commented on the stock. Morgan Stanley cut shares of Envista from an overweight rating to an equal weight rating and reduced their target price for the stock from $33.00 to $21.00 in a report on Friday, April 26th. Robert W. Baird reduced their target price on shares of Envista from $19.00 to $17.00 and set a neutral rating for the company in a report on Monday, July 22nd. Piper Sandler decreased their price objective on Envista from $18.00 to $16.00 and set a neutral rating on the stock in a report on Tuesday, July 30th. Evercore ISI decreased their target price on shares of Envista from $24.00 to $19.00 and set an outperform rating on the stock in a research report on Tuesday, June 25th. Finally, Needham & Company LLC reissued a hold rating on shares of Envista in a report on Tuesday, July 16th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $19.14.

Envista Trading Down 1.9 %

NYSE:NVST traded down $0.32 during trading hours on Thursday, hitting $16.18. The stock had a trading volume of 4,446,997 shares, compared to its average volume of 2,442,982. The business’s 50 day moving average is $16.89 and its 200-day moving average is $19.54. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.93 and a current ratio of 2.27. The company has a market cap of $2.78 billion, a price-to-earnings ratio of -22.94, a P/E/G ratio of 14.74 and a beta of 1.31. Envista has a one year low of $15.15 and a one year high of $33.84.

Envista (NYSE:NVST) last posted its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $633.10 million during the quarter, compared to analyst estimates of $646.88 million. Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. The firm’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts anticipate that Envista will post 1.15 EPS for the current fiscal year.

Hedge Funds Weigh In On Envista

A number of hedge funds have recently bought and sold shares of the company. Corbyn Investment Management Inc. MD lifted its stake in Envista by 0.6% in the fourth quarter. Corbyn Investment Management Inc. MD now owns 73,899 shares of the company’s stock valued at $1,778,000 after buying an additional 462 shares during the period. William Blair Investment Management LLC boosted its stake in Envista by 4.0% during the first quarter. William Blair Investment Management LLC now owns 14,049 shares of the company’s stock worth $300,000 after acquiring an additional 538 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in 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 period. Securian Asset Management Inc. increased its stake in Envista by 4.3% in the fourth quarter. Securian Asset Management Inc. now owns 14,465 shares of the company’s stock valued at $348,000 after purchasing an additional 590 shares in the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after purchasing an additional 621 shares during the period.

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.