Evercore ISI Lowers Envista (NYSE:NVST) Price Target to $19.00

Envista (NYSE:NVST) had its price target lowered by equities research analysts at Evercore ISI from $24.00 to $19.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Evercore ISI’s target price suggests a potential upside of 15.08% from the company’s previous close.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird dropped their target price on shares of Envista from $22.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group dropped their target price on shares of Envista from $20.00 to $17.50 and set a “sell” rating for the company in a report on Friday, May 3rd. SVB Leerink started coverage on shares of Envista in a research note on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Morgan Stanley cut shares of Envista from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $33.00 to $21.00 in a research note on Friday, April 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research note on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.86.

Envista Stock Performance

Shares of NVST opened at $16.51 on Tuesday. The company has a 50-day simple moving average of $18.62 and a 200-day simple moving average of $21.16. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $2.84 billion, a PE ratio of -22.93, a P/E/G ratio of 13.29 and a beta of 1.34. Envista has a 52-week low of $15.92 and a 52-week high of $36.14.

Envista (NYSE:NVST) last posted its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share 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 last year, the business posted $0.38 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Equities research analysts predict that Envista will post 1.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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