Envista (NYSE:NVST) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Envista (NYSE:NVST) from a buy rating to a hold rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research note on Thursday. Deutsche Bank Aktiengesellschaft set a $32.00 target price on Envista in a research note on Thursday, September 3rd. Morgan Stanley set a $23.00 target price on Envista in a report on Thursday, August 6th. BMO Capital Markets dropped their price target on shares of Envista from $29.00 to $26.00 and set a “market perform” rating on the stock in a research report on Monday, September 28th. Finally, Zacks Research downgraded shares of Envista from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Six investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $29.00.

Envista Stock Performance

NVST stock opened at $25.98 on Friday. The firm has a market cap of $4.17 billion, a P/E ratio of 6.71, a P/E/G ratio of 1.38 and a beta of 0.94. The stock’s 50 day simple moving average is $24.36 and its 200 day simple moving average is $25.75. The company has a current ratio of 2.43, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47. Envista has a 12-month low of $18.77 and a 12-month high of $30.42.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, November 4th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $691.50 million for the quarter, compared to analysts’ expectations of $688.74 million. Envista had a net margin of 22.01% and a return on equity of 8.26%. Envista’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. As a group, equities research analysts predict that Envista will post 1.56 EPS for the current year.

Insider Buying and Selling

In other Envista news, SVP Mischa Reis sold 8,000 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $27.50, for a total value of $220,000.00. Following the completion of the transaction, the senior vice president directly owned 27,321 shares in the company, valued at $751,327.50. This trade represents a 22.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.99% of the company’s stock.

Institutional Investors Weigh In On Envista

Several hedge funds have recently made changes to their positions in the company. Corient Private Wealth LP raised its holdings in Envista by 35.8% in the 2nd quarter. Corient Private Wealth LP now owns 703,864 shares of the company’s stock worth $18,547,000 after acquiring an additional 185,687 shares during the period. GSA Capital Partners LLP acquired a new position in Envista during the 2nd quarter worth $2,039,000. Legal & General Group Plc bought a new stake in Envista during the second quarter valued at about $5,987,000. WINTON GROUP Ltd boosted its holdings in Envista by 247.9% during the second quarter. WINTON GROUP Ltd now owns 192,055 shares of the company’s stock valued at $5,061,000 after acquiring an additional 136,855 shares during the period. Finally, Squarepoint Ops LLC bought a new stake in Envista during the second quarter valued at about $1,464,000.

About Envista

Envista Holdings Corporation is a dental products and technology company that develops and supplies tools and services for dental professionals. Its offerings span implant dentistry, orthodontics, digital imaging, restorative care and other clinical applications.

The company’s products include dental implants and related treatment systems, orthodontic brackets and clear aligners, imaging equipment and software, and restorative and endodontic materials. Its brands include Nobel Biocare, Ormco, DEXIS, Kerr and KaVo.

Envista was formed in 2019 through the separation of Danaher Corporation’s dental businesses.