Evercore ISI Increases Envista (NYSE:NVST) Price Target to $23.00

Envista (NYSE:NVST) had its price target raised by equities researchers at Evercore ISI from $18.00 to $23.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 18.50% from the stock’s previous close.

Several other research analysts have also recently issued reports on the stock. Bank of America decreased their price objective on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. JPMorgan Chase & Co. downgraded Envista from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Piper Sandler cut their price target on shares of Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, Stifel Nicolaus decreased their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.59.

Envista Stock Performance

Shares of Envista stock traded up $0.41 during trading on Monday, hitting $19.41. 899,998 shares of the stock were exchanged, compared to its average volume of 2,482,787. The stock’s fifty day moving average is $17.42 and its 200 day moving average is $18.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. The stock has a market cap of $3.34 billion, a PE ratio of -26.86 and a beta of 1.31. Envista has a 12 month low of $15.15 and a 12 month high of $28.67.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $633.10 million for 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%. Envista’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.43 earnings per share. As a group, sell-side analysts anticipate that Envista will post 0.69 EPS for the current year.

Insider Transactions at Envista

In other news, CFO Eric D. Hammes purchased 24,532 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $16.33 per share, with a total value of $400,607.56. Following the purchase, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at $400,607.56. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.30% of the stock is currently owned by company insiders.

Institutional Trading of Envista

Several large investors have recently made changes to their positions in NVST. Versant Capital Management Inc grew 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 valued at $52,000 after buying an additional 2,940 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Envista in the second quarter worth about $78,000. Summit Securities Group LLC acquired a new position in shares of Envista during the 2nd quarter worth about $85,000. Signaturefd LLC boosted its stake in Envista by 85.9% during the 2nd quarter. Signaturefd LLC now owns 5,345 shares of the company’s stock valued at $89,000 after purchasing an additional 2,470 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in Envista in the 4th quarter valued at approximately $136,000.

Envista Company Profile

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.