Envista (NYSE:NVST) Hits New 12-Month Low Following Analyst Downgrade

Envista Holdings Co. (NYSE:NVST) reached a new 52-week low during mid-day trading 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 trading hands. The stock had previously closed at $16.00.

Other research analysts also recently issued reports about the company. Morgan Stanley downgraded Envista from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $33.00 to $21.00 in a research note on Friday, April 26th. The Goldman Sachs Group reduced their target price on shares of Envista from $20.00 to $17.50 and set a “sell” rating for the company in a research note on Friday, May 3rd. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a research note on Monday, February 26th. SVB Leerink started coverage on shares of Envista in a research report on Monday, February 26th. They issued an “underperform” rating and a $19.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Envista has a consensus rating of “Hold” and a consensus target price of $24.86.

Institutional Investors Weigh In On Envista

A number of institutional investors have recently bought and sold shares of the stock. Headinvest LLC purchased a new position in shares of Envista in the 3rd quarter worth about $28,000. Fifth Third Bancorp raised its holdings in Envista by 98.1% in the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after buying an additional 621 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Envista in the third quarter valued at approximately $47,000. Signaturefd LLC lifted its position in Envista by 1,297.9% during the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after buying an additional 2,427 shares in the last quarter. Finally, Covestor Ltd grew its stake in Envista by 33.9% during the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after buying an additional 624 shares during the period.

Envista Stock Up 1.0 %

The firm’s 50-day moving average price is $18.68 and its 200-day moving average price is $21.19. 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 company has a market cap of $2.78 billion, a price-to-earnings ratio of -22.22, a price-to-earnings-growth ratio of 13.78 and a beta of 1.34.

Envista (NYSE:NVST) last released its quarterly 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 company 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 business’s revenue was down .6% on a year-over-year basis. During the same period last year, the firm posted $0.38 earnings per share. Sell-side analysts forecast that Envista Holdings Co. will post 1.23 earnings per share for the current fiscal 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.