Envista (NYSE:NVST) Shares Gap Down - Should You Sell?

Envista Holdings Co. (NYSE:NVST - Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $15.62, but opened at $15.26. Envista shares last traded at $15.44, with a volume of 98,443 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler increased their price objective on shares of Envista from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. New Street Research set a $19.00 price objective on Envista in a research note on Thursday, March 6th. JPMorgan Chase & Co. reduced their price target on Envista from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company set a $19.00 price objective on shares of Envista in a research report on Saturday, March 8th. Finally, Morgan Stanley set a $16.00 price target on shares of Envista in a report on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $19.96.

Envista Stock Performance

The company's 50-day moving average price is $17.82 and its two-hundred day moving average price is $19.21. The company has a market cap of $2.62 billion, a P/E ratio of -2.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. As a group, equities analysts forecast that Envista Holdings Co. will post 1 earnings per share for the current year.

Institutional Trading of Envista

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Envista during the fourth quarter valued at approximately $53,000. Lecap Asset Management Ltd. acquired a new stake in Envista during the 4th quarter valued at $281,000. Geode Capital Management LLC lifted its holdings in shares of Envista by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,895,653 shares of the company's stock valued at $57,233,000 after purchasing an additional 71,435 shares in the last quarter. Hantz Financial Services Inc. boosted its position in shares of Envista by 146.6% in the fourth quarter. Hantz Financial Services Inc. now owns 110,489 shares of the company's stock worth $2,131,000 after buying an additional 65,679 shares during the period. Finally, Norges Bank purchased a new position in shares of Envista during the fourth quarter valued at $38,052,000.

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.