Envista Holdings Co. to Post Q2 2024 Earnings of $0.29 Per Share, William Blair Forecasts (NYSE:NVST)

Envista Holdings Co. (NYSE:NVST) – Investment analysts at William Blair cut their Q2 2024 earnings per share estimates for Envista in a research report issued on Tuesday, June 25th. William Blair analyst B. Vazquez now expects that the company will post earnings of $0.29 per share for the quarter, down from their previous estimate of $0.32. The consensus estimate for Envista’s current full-year earnings is $1.23 per share. William Blair also issued estimates for Envista’s Q3 2024 earnings at $0.30 EPS, Q4 2024 earnings at $0.29 EPS, FY2024 earnings at $1.15 EPS and FY2025 earnings at $1.27 EPS.

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). The business had revenue of $623.60 million for the quarter, compared to analyst estimates of $634.85 million. Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The firm’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.38 EPS.

NVST has been the subject of several other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research note on Monday, June 3rd. Evercore ISI lowered their price objective on Envista from $24.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday. Robert W. Baird lowered their price objective on Envista from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group lowered their price objective on Envista from $20.00 to $17.50 and set a “sell” rating for the company in a research note on Friday, May 3rd. Finally, Morgan Stanley downgraded Envista from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $33.00 to $21.00 in a research note 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 given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $24.86.

Envista Stock Performance

Shares of NYSE NVST opened at $16.00 on Wednesday. The stock has a 50-day moving average price of $18.68 and a two-hundred day moving average price of $21.19. Envista has a 12 month low of $15.98 and a 12 month high of $36.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.27 and a quick ratio of 1.93.

Hedge Funds Weigh In On Envista

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Envista by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after buying an additional 944,596 shares in the last quarter. Ariel Investments LLC boosted its holdings in shares of Envista by 25.3% during the 1st quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock worth $190,115,000 after buying an additional 1,795,258 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Envista by 65.3% during the 4th quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock worth $126,606,000 after buying an additional 2,077,786 shares in the last quarter. Nuance Investments LLC lifted its holdings in shares of Envista by 21.6% in the 1st quarter. Nuance Investments LLC now owns 4,781,320 shares of the company’s stock worth $102,224,000 after purchasing an additional 850,266 shares in the last quarter. Finally, Swedbank AB bought a new position in shares of Envista in the 1st quarter worth $53,412,000.

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.