The Goldman Sachs Group Trims Envista (NYSE:NVST) Target Price to $17.50

Envista (NYSE:NVST) had its price target dropped by investment analysts at The Goldman Sachs Group from $20.00 to $17.50 in a research report issued on Friday, Benzinga reports. The firm currently has a “sell” rating on the stock. The Goldman Sachs Group’s target price points to a potential downside of 7.94% from the company’s previous close.

Several other research firms have also commented on NVST. Robert W. Baird cut their target price on shares of Envista from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday. Jefferies Financial Group lowered shares of Envista from a “buy” rating to a “hold” rating and cut their target price for the company from $30.00 to $23.00 in a research note on Friday, February 9th. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research note on Thursday. TheStreet lowered shares of Envista from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. Finally, Morgan Stanley downgraded shares of Envista from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $33.00 to $21.00 in a research report on Friday, April 26th. Three investment 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. According to data from MarketBeat.com, Envista currently has an average rating of “Hold” and a consensus price target of $25.86.

Envista Stock Performance

NYSE NVST traded down $0.80 on Friday, hitting $19.01. The stock had a trading volume of 2,239,656 shares, compared to its average volume of 2,327,958. The company’s 50-day moving average is $20.74 and its two-hundred day moving average is $22.57. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of -26.62, a P/E/G ratio of 3.73 and a beta of 1.35. Envista has a one year low of $18.09 and a one year high of $36.74. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Envista had a positive return on equity of 5.80% and a negative net margin of 4.70%. The company had revenue of $623.60 million during the quarter, compared to analyst estimates of $634.85 million. During the same period in the prior year, the company posted $0.38 earnings per share. The company’s revenue was down .6% on a year-over-year basis. On average, analysts expect that Envista will post 1.41 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NVST. Headinvest LLC bought a new position in Envista during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp boosted its stake in Envista by 98.1% during the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after acquiring an additional 621 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Envista in the third quarter valued at approximately $47,000. Signaturefd LLC lifted its stake in Envista by 1,297.9% in the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after buying an additional 2,427 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Envista by 33.9% in the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock valued at $69,000 after buying an additional 624 shares in 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.