Envista (NYSE:NVST) Given New $19.00 Price Target at Evercore ISI

Envista (NYSE:NVST) had its price target decreased by Evercore ISI from $24.00 to $19.00 in a report issued on Tuesday, MarketBeat.com reports. Evercore ISI currently has an outperform rating on the stock.

A number of other research firms have also recently weighed in on NVST. Morgan Stanley cut Envista from an overweight rating to an equal weight rating and lowered their price target for the stock from $33.00 to $21.00 in a report on Friday, April 26th. JPMorgan Chase & Co. dropped their price target on shares of Envista from $29.00 to $23.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. The Goldman Sachs Group decreased their price objective on shares of Envista from $20.00 to $17.50 and set a sell rating on the stock in a report on Friday, May 3rd. Needham & Company LLC reiterated a hold rating on shares of Envista in a report on Monday, June 3rd. Finally, Leerink Partnrs restated an underperform rating on shares of Envista in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Envista currently has a consensus rating of Hold and a consensus target price of $24.86.

Envista Stock Performance

NVST opened at $16.63 on Tuesday. The firm has a fifty day moving average price of $18.49 and a 200 day moving average price of $21.09. Envista has a 1 year low of $15.92 and a 1 year high of $36.14. The stock has a market cap of $2.86 billion, a P/E ratio of -23.09, a P/E/G ratio of 13.72 and a beta of 1.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.27 and a quick ratio of 1.93.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 earned $0.38 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Envista will post 1.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NVST. Headinvest LLC acquired a new position in Envista during the third quarter valued at $28,000. Fifth Third Bancorp lifted its position in shares of Envista by 98.1% in the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Envista during the third quarter worth approximately $47,000. Covestor Ltd grew its position in Envista by 33.9% during 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 in the last quarter. Finally, Signaturefd LLC increased its stake in Envista by 1,297.9% in the 4th quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after buying 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.