Envista (NYSE:NVST) Upgraded at Leerink Partners

Envista (NYSE:NVST) was upgraded by analysts at Leerink Partners from an “underperform” rating to a “market perform” rating in a research report issued on Thursday, FinViz reports. The firm presently has a $23.00 target price on the stock, up from their prior target price of $16.00. Leerink Partners’ price objective would suggest a potential upside of 19.79% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus increased their price objective on Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Evercore ISI increased their price objective on Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Bank of America reduced their price target on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Wells Fargo & Company began coverage on Envista in a report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price target for the company. Finally, Piper Sandler reduced their price target on Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $20.21.

Envista Price Performance

Shares of Envista stock opened at $19.20 on Thursday. 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 has a market cap of $3.30 billion, a PE ratio of -2.49 and a beta of 1.32. The business has a 50 day moving average of $18.54 and a 200 day moving average of $18.04. Envista has a 52 week low of $15.15 and a 52 week high of $25.64.

Envista (NYSE:NVST) last posted its quarterly earnings data 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 firm had revenue of $633.10 million during the quarter, compared to the consensus estimate of $646.88 million. Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. Envista’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. As a group, equities research analysts forecast that Envista will post 0.69 earnings per share for the current year.

Insider Transactions at Envista

In related news, CFO Eric D. Hammes acquired 24,532 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were purchased 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

A number of large investors have recently added to or reduced their stakes in NVST. Mirae Asset Global Investments Co. Ltd. bought a new stake in Envista in the 3rd quarter worth approximately $31,000. GAMMA Investing LLC increased its stake in Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after acquiring an additional 726 shares during the last quarter. Blue Trust Inc. increased its stake in Envista by 69.7% in the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after acquiring an additional 804 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Envista by 50.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock worth $43,000 after acquiring an additional 728 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in Envista by 1,420.3% in the 2nd quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock worth $52,000 after acquiring an additional 2,940 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.