Envista (NYSE:NVST) Shares Gap Up to $19.00

Shares of Envista Holdings Co. (NYSE:NVST) gapped up before the market opened on Monday . The stock had previously closed at $19.00, but opened at $19.60. Envista shares last traded at $19.62, with a volume of 283,897 shares traded.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVST. JPMorgan Chase & Co. downgraded Envista from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Needham & Company LLC restated a “hold” rating on shares of Envista in a research note on Thursday, August 8th. Piper Sandler dropped their target price on Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Robert W. Baird dropped their target price on Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Finally, Evercore ISI lowered their price target on Envista from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $19.14.

Envista Trading Up 1.4 %

The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -26.39 and a beta of 1.31. The company has a fifty day moving average price of $17.42 and a 200-day moving average price of $18.49. The company has a current ratio of 2.22, a quick ratio of 1.90 and a debt-to-equity ratio of 0.47.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The company had revenue of $633.10 million during the quarter, compared to analyst estimates of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. As a group, research analysts expect that Envista Holdings Co. will post 0.69 EPS for the current year.

Insider Activity

In other news, CFO Eric D. Hammes acquired 24,532 shares of the business’s stock in a transaction on Monday, August 12th. The stock was bought at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the purchase, the chief financial officer now owns 24,532 shares in the company, valued at $400,607.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

Institutional investors have recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new position in Envista during the second quarter worth $69,534,000. Pacer Advisors Inc. lifted its stake in shares of Envista by 11,202.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock valued at $48,018,000 after purchasing an additional 2,861,880 shares during the last quarter. Swedbank AB acquired a new position in shares of Envista in the 1st quarter valued at $53,412,000. Nuance Investments LLC raised its holdings in shares of Envista by 47.2% in the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after buying an additional 2,256,993 shares during the period. Finally, Ariel Investments LLC raised its holdings in shares of Envista by 25.3% in the 1st quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock valued at $190,115,000 after buying an additional 1,795,258 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.