Envista (NYSE:NVST) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Envista (NYSE:NVST) announced its quarterly earnings results on Wednesday. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05), Briefing.com reports. The business had revenue of $623.60 million during the quarter, compared to analysts’ expectations of $634.85 million. Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. Envista’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS.

Envista Price Performance

Envista stock traded down $0.81 during midday trading on Friday, reaching $19.00. 2,239,656 shares of the company were exchanged, compared to its average volume of 1,979,218. Envista has a 1 year low of $18.09 and a 1 year high of $36.74. The firm’s 50-day simple moving average is $20.66 and its 200-day simple moving average is $22.53. The company has a market capitalization of $3.27 billion, a price-to-earnings ratio of -26.40, a P/E/G ratio of 3.83 and a beta of 1.35. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.90 and a current ratio of 2.27.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVST. SVB Leerink initiated coverage on Envista in a research note on Monday, February 26th. They set an “underperform” rating and a $19.00 target price for the company. Robert W. Baird lowered their price target on shares of Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday. TheStreet cut Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group started coverage on Envista in a report on Friday, January 5th. They issued a “neutral” rating and a $26.00 price target for the company. Finally, William Blair cut Envista from an “outperform” rating to a “market perform” rating in a report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $25.86.

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.