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

Needham & Company LLC restated their hold rating on shares of Envista (NYSE:NVST) in a research note issued to investors on Thursday, Benzinga reports.

Several other brokerages also recently issued reports on NVST. Morgan Stanley downgraded Envista from an overweight rating to an equal weight rating and cut their price target for the stock from $33.00 to $21.00 in a report on Friday, April 26th. William Blair downgraded Envista from an outperform rating to a market perform rating in a report on Thursday, February 8th. TheStreet downgraded Envista from a c rating to a d+ rating in a report on Wednesday, February 7th. SVB Leerink initiated coverage on Envista in a report on Monday, February 26th. They issued an underperform rating and a $19.00 price target on the stock. Finally, UBS Group initiated coverage on Envista in a report on Friday, January 5th. They issued a neutral rating and a $26.00 price target on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus price target of $25.86.

Envista Trading Down 4.1 %

NYSE:NVST opened at $19.00 on Thursday. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $20.66 and its two-hundred day moving average is $22.53. Envista has a 52 week low of $18.09 and a 52 week high of $36.74. The company has a market cap of $3.27 billion, a PE ratio of -26.39, a P/E/G ratio of 3.68 and a beta of 1.35.

Envista (NYSE:NVST) last released its earnings results on Wednesday, May 1st. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The firm had revenue of $623.60 million for the quarter, compared to the consensus estimate of $634.85 million. During the same period in the prior year, the business earned $0.38 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. On average, analysts predict that Envista will post 1.26 EPS for the current year.

Institutional Trading of Envista

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of 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 purchasing an additional 944,596 shares during the period. Ariel Investments LLC increased its position in shares of Envista by 4.3% during the 3rd quarter. Ariel Investments LLC now owns 5,335,578 shares of the company’s stock valued at $148,756,000 after purchasing an additional 218,461 shares during the period. Franklin Resources Inc. increased its position in shares of Envista by 65.3% during the 4th quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after purchasing an additional 2,077,786 shares during the period. Nuance Investments LLC increased its position in shares of Envista by 953.8% during the 4th quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock valued at $94,581,000 after purchasing an additional 3,558,031 shares during the period. Finally, River Road Asset Management LLC acquired a new position in shares of Envista during the 4th quarter valued at $54,931,000.

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.