Needham & Company LLC Reiterates “Hold” Rating for Envista (NYSE:NVST)

Envista (NYSE:NVST)‘s stock had its “hold” rating reaffirmed by equities research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports.

Several other equities research analysts also recently commented on NVST. Leerink Partnrs reissued an “underperform” rating on shares of Envista in a report on Monday, February 26th. TheStreet downgraded Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. Morgan Stanley downgraded Envista from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $33.00 to $21.00 in a report on Friday, April 26th. Robert W. Baird dropped their target price on Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, William Blair cut Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy 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 $27.09.

Envista Stock Up 0.4 %

Shares of NYSE:NVST opened at $19.75 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33. The stock has a fifty day simple moving average of $20.80 and a two-hundred day simple moving average of $22.59. Envista has a 12-month low of $18.95 and a 12-month high of $38.43. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -32.38, a PEG ratio of 3.72 and a beta of 1.35.

Envista (NYSE:NVST) last released its earnings results on Wednesday, February 7th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. The company had revenue of $645.60 million during the quarter, compared to the consensus estimate of $638.37 million. During the same period last year, the firm posted $0.52 earnings per share. The company’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that Envista will post 1.41 earnings per share for the current fiscal year.

Institutional Trading of Envista

A number of hedge funds have recently bought and sold shares of NVST. Dakota Wealth Management increased its position in Envista by 11.5% during the third quarter. Dakota Wealth Management now owns 8,613 shares of the company’s stock valued at $240,000 after acquiring an additional 890 shares during the last quarter. Raymond James & Associates purchased a new stake in Envista in the third quarter worth about $1,236,000. Verdence Capital Advisors LLC increased its position in Envista by 27.2% in the third quarter. Verdence Capital Advisors LLC now owns 10,288 shares of the company’s stock worth $287,000 after buying an additional 2,198 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Envista by 20.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,884 shares of the company’s stock worth $889,000 after buying an additional 5,342 shares in the last quarter. Finally, Strs Ohio increased its position in Envista by 19.4% in the third quarter. Strs Ohio now owns 46,989 shares of the company’s stock worth $1,310,000 after buying an additional 7,633 shares in the last quarter.

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.