Envista (NYSE:NVST) Given New $23.00 Price Target at Evercore ISI

Envista (NYSE:NVST) had its price target boosted by equities researchers at Evercore ISI from $18.00 to $23.00 in a research note issued to investors on Monday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Evercore ISI’s price target would suggest a potential upside of 18.50% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. Bank of America cut their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Piper Sandler dropped their price objective on Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Robert W. Baird reduced their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Stifel Nicolaus dropped their target price on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.59.

Envista Stock Performance

Shares of NVST traded up $0.41 during trading hours on Monday, reaching $19.41. 899,998 shares of the company traded hands, compared to its average volume of 2,482,787. 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’s fifty day moving average is $17.42 and its 200 day moving average is $18.49. Envista has a 1-year low of $15.15 and a 1-year high of $28.67. The stock has a market cap of $3.34 billion, a P/E ratio of -26.86 and a beta of 1.31.

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

Insider Activity

In other news, CFO Eric D. Hammes acquired 24,532 shares of the company’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $16.33 per share, with a total value of $400,607.56. Following the acquisition, the chief financial officer now owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

Several institutional investors and hedge funds have recently made changes to their positions in the business. William Blair Investment Management LLC raised its position in shares of Envista by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 14,049 shares of the company’s stock valued at $300,000 after acquiring an additional 538 shares during the period. American International Group Inc. grew its holdings in shares of Envista by 0.3% in the 4th quarter. American International Group Inc. now owns 231,461 shares of the company’s stock valued at $5,569,000 after buying an additional 650 shares during the period. Victory Capital Management Inc. increased its position in shares of Envista by 2.3% in the 2nd quarter. Victory Capital Management Inc. now owns 36,021 shares of the company’s stock valued at $599,000 after buying an additional 800 shares in the last quarter. United Services Automobile Association lifted its holdings in Envista by 8.1% during the fourth quarter. United Services Automobile Association now owns 12,284 shares of the company’s stock worth $296,000 after acquiring an additional 919 shares in the last quarter. Finally, State of Michigan Retirement System grew its stake in Envista by 2.4% in the first quarter. State of Michigan Retirement System now owns 42,163 shares of the company’s stock valued at $901,000 after acquiring an additional 1,000 shares during the period.

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.