Envista (NYSE:NVST) Stock Price Up 3.7%

Envista Holdings Co. (NYSE:NVST) shares rose 3.7% during mid-day trading on Tuesday . The stock traded as high as $19.87 and last traded at $19.85. Approximately 1,561,901 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 2,360,976 shares. The stock had previously closed at $19.14.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. William Blair cut shares of Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Leerink Partnrs reaffirmed an “underperform” rating on shares of Envista in a research note on Monday, February 26th. UBS Group assumed coverage on shares of Envista in a research note on Friday, January 5th. They set a “neutral” rating and a $26.00 price target on the stock. SVB Leerink assumed coverage on shares of Envista in a research note on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Finally, TheStreet cut shares of Envista from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Envista currently has an average rating of “Hold” and a consensus price target of $29.60.

Envista Stock Performance

The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.90 and a current ratio of 2.23. The business’s 50-day simple moving average is $21.45 and its two-hundred day simple moving average is $23.09.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). The business had revenue of $645.60 million for the quarter, compared to analyst estimates of $638.37 million. Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. As a group, equities research analysts anticipate that Envista Holdings Co. will post 1.43 earnings per share for the current fiscal year.

Institutional Trading of Envista

Hedge funds have recently made changes to their positions in the company. Eagle Bay Advisors LLC bought a new stake in shares of Envista in the second quarter worth $35,000. Belpointe Asset Management LLC increased its stake in shares of Envista by 80.6% in the first quarter. Belpointe Asset Management LLC now owns 901 shares of the company’s stock worth $37,000 after buying an additional 402 shares during the last quarter. Headinvest LLC bought a new stake in shares of Envista in the third quarter worth $28,000. Fifth Third Bancorp increased its stake 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 buying an additional 621 shares during the last quarter. Finally, Covestor Ltd increased its stake in shares of Envista by 35.0% in the first quarter. Covestor Ltd now owns 1,273 shares of the company’s stock worth $62,000 after buying an additional 330 shares during the last quarter.

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.