Envista (NYSE:NVST) Shares Up 5.6% – Time to Buy?

Shares of Envista Holdings Corporation (NYSE:NVST) rose 5.6% during trading on Wednesday . The stock traded as high as $21.80 and last traded at $21.7690. Approximately 530,669 shares changed hands during trading, a decline of 78% from the average daily volume of 2,368,679 shares. The stock had previously closed at $20.62.

Analysts Set New Price Targets

Several research firms recently commented on NVST. Zacks Research lowered shares of Envista from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Evercore ISI restated an “outperform” rating on shares of Envista in a research report on Friday, October 31st. Mizuho set a $19.00 price objective on Envista in a research report on Monday, November 3rd. Wall Street Zen upgraded shares of Envista from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Envista in a report on Monday. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.54.

Envista Price Performance

The firm’s 50-day moving average is $20.08 and its 200-day moving average is $20.05. The company has a quick ratio of 2.02, a current ratio of 2.37 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.56 billion, a PE ratio of 241.24, a PEG ratio of 0.98 and a beta of 1.02.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, October 29th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Envista had a return on equity of 5.90% and a net margin of 0.58%.The firm had revenue of $669.90 million during the quarter, compared to analyst estimates of $639.49 million. During the same quarter in the prior year, the company earned $0.12 EPS. The business’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Envista Holdings Corporation will post 1 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Tudor Investment Corp ET AL purchased a new stake in Envista in the third quarter worth about $1,664,000. Caitong International Asset Management Co. Ltd increased its position in Envista by 16,711.1% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,513 shares of the company’s stock valued at $31,000 after buying an additional 1,504 shares in the last quarter. PharVision Advisers LLC purchased a new position in Envista during the third quarter valued at $307,000. XTX Topco Ltd boosted its holdings in Envista by 90.4% in the third quarter. XTX Topco Ltd now owns 81,347 shares of the company’s stock worth $1,657,000 after acquiring an additional 38,628 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new stake in shares of Envista in the third quarter worth $205,000.

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.