Envista (NYSE:NVST) Shares Gap Up to $19.00

Shares of Envista Holdings Co. (NYSE:NVST) gapped up prior to trading on Monday . The stock had previously closed at $19.00, but opened at $19.60. Envista shares last traded at $19.62, with a volume of 283,897 shares trading hands.

Wall Street Analysts Forecast Growth

NVST has been the topic of several research analyst reports. Stifel Nicolaus cut their price objective on Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Piper Sandler cut their price target on Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Envista in a report on Thursday, August 8th. Evercore ISI cut their price target on Envista from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Finally, Robert W. Baird cut their price target on Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.14.

Envista Trading Up 1.4 %

The company has a 50-day moving average price of $17.42 and a 200-day moving average price of $18.49. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of -26.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22.

Envista (NYSE:NVST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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 positive return on equity of 4.86% and a negative net margin of 52.25%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 earnings per share. As a group, research analysts forecast that Envista Holdings Co. will post 0.69 EPS for the current fiscal year.

Insider Activity at Envista

In other news, CFO Eric D. Hammes bought 24,532 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 24,532 shares in the company, valued at $400,607.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

A number of large investors have recently made changes to their positions in NVST. Jupiter Asset Management Ltd. acquired a new stake in shares of Envista in the 2nd quarter valued at about $69,534,000. Pacer Advisors Inc. lifted its position in Envista by 11,202.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock worth $48,018,000 after acquiring an additional 2,861,880 shares during the period. Swedbank AB acquired a new stake in Envista during the 1st quarter worth approximately $53,412,000. Nuance Investments LLC lifted its position in Envista by 47.2% during the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock worth $117,048,000 after acquiring an additional 2,256,993 shares during the period. Finally, Ariel Investments LLC lifted its position in 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 acquiring an additional 1,795,258 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.