Envista (NYSE:NVST) Announces Quarterly Earnings Results

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

Envista Trading Up 9.7 %

NYSE:NVST traded up $1.86 during trading hours on Thursday, hitting $21.09. 4,976,399 shares of the stock were exchanged, compared to its average volume of 2,427,292. The company has a market capitalization of $3.63 billion, a P/E ratio of -2.76 and a beta of 1.32. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $18.54 and its two-hundred day moving average is $18.04. Envista has a twelve month low of $15.15 and a twelve month high of $25.64.

Insider Activity

In other news, CFO Eric D. Hammes purchased 24,532 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $16.33 per share, with a total value of $400,607.56. Following the completion of the purchase, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at $400,607.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NVST shares. Wells Fargo & Company assumed coverage on shares of Envista in a research note on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price target for the company. Evercore ISI boosted their price target on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Leerink Partners upgraded Envista from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $16.00 to $23.00 in a research note on Thursday. JPMorgan Chase & Co. downgraded shares of Envista from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $23.00 to $16.00 in a research note on Thursday, August 8th. Finally, Stifel Nicolaus increased their target price 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 analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $20.71.

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.