Envista (NYSE:NVST) Shares Gap Up on Analyst Upgrade

Shares of Envista Holdings Co. (NYSE:NVST) gapped up prior to trading on Monday after Evercore ISI raised their price target on the stock from $18.00 to $23.00. The stock had previously closed at $19.00, but opened at $19.60. Evercore ISI currently has an outperform rating on the stock. Envista shares last traded at $19.62, with a volume of 283,897 shares changing hands.

Other analysts also recently issued research reports about the stock. Robert W. Baird reduced their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Bank of America lowered their target price on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price target on Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Piper Sandler decreased their price objective on Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Envista has an average rating of “Hold” and a consensus price target of $19.59.

Insiders Place Their Bets

In other news, CFO Eric D. Hammes bought 24,532 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the transaction, the chief financial officer now owns 24,532 shares of the company’s stock, valued at $400,607.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Envista by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after purchasing an additional 944,596 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of Envista by 11.0% during the second quarter. Ariel Investments LLC now owns 9,871,152 shares of the company’s stock worth $164,157,000 after buying an additional 978,952 shares in the last quarter. Nuance Investments LLC lifted its stake in shares of Envista by 47.2% in the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after acquiring an additional 2,256,993 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Envista by 15.4% during the 2nd quarter. American Century Companies Inc. now owns 6,726,651 shares of the company’s stock valued at $111,864,000 after acquiring an additional 897,141 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in Envista during the 2nd quarter worth $69,534,000.

Envista Trading Down 1.2 %

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -26.17 and a beta of 1.31. The business has a fifty day simple moving average of $17.49 and a 200-day simple moving average of $18.46.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The business had revenue of $633.10 million during the quarter, compared to analyst estimates of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 earnings per share. As a group, equities analysts forecast that Envista Holdings Co. will post 0.69 earnings per share for the current fiscal year.

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.