Envista (NYSE:NVST) Downgraded by Morgan Stanley to Equal Weight

Morgan Stanley cut shares of Envista (NYSE:NVST) from an overweight rating to an equal weight rating in a research note issued to investors on Friday, MarketBeat.com reports. Morgan Stanley currently has $21.00 price target on the stock, down from their previous price target of $33.00.

NVST has been the topic of a number of other research reports. Leerink Partnrs reissued an underperform rating on shares of Envista in a report on Monday, February 26th. William Blair lowered shares of Envista from an outperform rating to a market perform rating in a report on Thursday, February 8th. SVB Leerink initiated coverage on shares of Envista in a report on Monday, February 26th. They issued an underperform rating and a $19.00 price target on the stock. TheStreet lowered shares of Envista from a c rating to a d+ rating in a report on Wednesday, February 7th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Envista has an average rating of Hold and an average price target of $27.90.

Envista Stock Performance

NVST stock opened at $20.39 on Friday. 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 has a 52 week low of $18.95 and a 52 week high of $38.68. The firm’s fifty day moving average is $20.95 and its 200 day moving average is $22.72.

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 negative net margin of 3.90% and a positive return on equity of 6.31%. The business had revenue of $645.60 million for the quarter, compared to the consensus estimate of $638.37 million. During the same period in the prior year, the business posted $0.52 EPS. Envista’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, sell-side analysts forecast that Envista will post 1.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 valued at $413,056,000 after acquiring an additional 944,596 shares during the period. Ariel Investments LLC lifted its stake in shares of Envista by 4.3% in the third quarter. Ariel Investments LLC now owns 5,335,578 shares of the company’s stock worth $148,756,000 after buying an additional 218,461 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Envista by 65.3% in the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock worth $126,606,000 after buying an additional 2,077,786 shares in the last quarter. Nuance Investments LLC lifted its stake in shares of Envista by 953.8% in the fourth quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock worth $94,581,000 after buying an additional 3,558,031 shares in the last quarter. Finally, River Road Asset Management LLC bought a new position in shares of Envista in the fourth quarter worth approximately $54,931,000.

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.