Envista’s (NVST) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their hold rating on shares of Envista (NYSE:NVST) in a research note issued to investors on Thursday morning, Benzinga reports.

Several other research firms have also recently issued reports on NVST. Stifel Nicolaus boosted their price objective on shares of Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI raised their price target on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lowered shares of Envista from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Wells Fargo & Company assumed coverage on shares of Envista in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 target price on the stock. Finally, Piper Sandler lowered their price target on shares of Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.71.

Envista Stock Performance

Envista stock opened at $20.94 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.90. The firm has a market capitalization of $3.60 billion, a P/E ratio of -2.69 and a beta of 1.30. Envista has a 1-year low of $15.15 and a 1-year high of $25.64. The company’s 50-day moving average is $18.64 and its 200 day moving average is $18.06.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The firm had revenue of $601.00 million for the quarter, compared to the consensus estimate of $590.34 million. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. Research analysts forecast that Envista will post 0.7 EPS for the current year.

Insiders Place Their Bets

In other Envista news, CFO Eric D. Hammes bought 24,532 shares of Envista stock in a transaction that occurred on Monday, August 12th. The shares were bought 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 of the company’s stock, valued at approximately $400,607.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in Envista in the 3rd quarter worth $31,000. GAMMA Investing LLC increased its holdings in shares of Envista by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $35,000 after purchasing an additional 726 shares during the period. Blue Trust Inc. raised its stake in shares of Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Envista by 50.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after acquiring an additional 728 shares during the period. Finally, Versant Capital Management Inc lifted its position in Envista by 1,420.3% during the second quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock valued at $52,000 after purchasing an additional 2,940 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.