Envista (NYSE:NVST) Reaches New 12-Month Low on Analyst Downgrade

Envista Holdings Co. (NYSE:NVST)’s share price reached a new 52-week low on Wednesday after Evercore ISI lowered their price target on the stock from $24.00 to $19.00. Evercore ISI currently has an outperform rating on the stock. Envista traded as low as $15.92 and last traded at $16.16, with a volume of 381228 shares. The stock had previously closed at $16.00.

Several other equities research analysts have also recently weighed in on NVST. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a report on Monday, February 26th. Robert W. Baird dropped their price target on Envista from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. SVB Leerink assumed coverage on shares of Envista in a research report on Monday, February 26th. They set an “underperform” rating and a $19.00 price objective on the stock. JPMorgan Chase & Co. dropped their target price on shares of Envista from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Finally, Morgan Stanley cut shares of Envista from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $33.00 to $21.00 in a research report on Friday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Envista presently has an average rating of “Hold” and a consensus target price of $24.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Retirement Systems of Alabama grew its stake in shares of Envista by 2.0% in the fourth quarter. Retirement Systems of Alabama now owns 504,572 shares of the company’s stock worth $12,140,000 after acquiring an additional 10,120 shares during the last quarter. Alberta Investment Management Corp grew its position in Envista by 41.7% during the 4th quarter. Alberta Investment Management Corp now owns 294,417 shares of the company’s stock valued at $7,084,000 after purchasing an additional 86,700 shares during the last quarter. Foundry Partners LLC bought a new stake in Envista during the 4th quarter valued at about $3,571,000. Raymond James & Associates increased its stake in Envista by 820.6% during the 4th quarter. Raymond James & Associates now owns 408,218 shares of the company’s stock valued at $9,822,000 after purchasing an additional 363,875 shares in the last quarter. Finally, Norges Bank purchased a new position in Envista in the fourth quarter worth about $42,874,000.

Envista Trading Up 3.2 %

The stock has a market cap of $2.84 billion, a P/E ratio of -22.93, a P/E/G ratio of 13.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.27 and a quick ratio of 1.93. The firm’s 50 day moving average price is $18.62 and its 200-day moving average price is $21.16.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, May 1st. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. The business had revenue of $623.60 million for the quarter, compared to analysts’ expectations of $634.85 million. During the same quarter in the prior year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts forecast that Envista Holdings Co. will post 1.2 earnings per share for the current year.

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.