Envista (NYSE:NVST) Shares Gap Up After Earnings Beat

Shares of Envista Holdings Co. (NYSE:NVST - Get Free Report) gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $20.57, but opened at $22.47. Envista shares last traded at $22.00, with a volume of 366,005 shares changing hands.

The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NVST. Mizuho began coverage on shares of Envista in a research report on Wednesday, December 4th. They issued an "underperform" rating and a $20.00 price target on the stock. Leerink Partnrs upgraded Envista from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 31st. Needham & Company LLC reiterated a "hold" rating on shares of Envista in a research note on Thursday. Wells Fargo & Company lifted their target price on Envista from $20.00 to $21.00 and gave the company an "equal weight" rating in a report on Thursday. Finally, Jefferies Financial Group raised their price objective on shares of Envista from $20.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Envista presently has an average rating of "Hold" and an average price target of $20.21.

Institutional Investors Weigh In On Envista

A number of large investors have recently added to or reduced their stakes in NVST. Iron Triangle Partners LP bought a new position in shares of Envista during the 3rd quarter valued at about $43,262,000. Point72 Asset Management L.P. bought a new position in Envista during the third quarter valued at approximately $37,559,000. Polar Asset Management Partners Inc. lifted its stake in Envista by 375.6% in the third quarter. Polar Asset Management Partners Inc. now owns 1,497,250 shares of the company's stock worth $29,586,000 after purchasing an additional 1,182,450 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of Envista in the fourth quarter worth about $16,979,000. Finally, Franklin Resources Inc. boosted its stake in shares of Envista by 26.5% during the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company's stock valued at $78,480,000 after purchasing an additional 830,861 shares during the period.

Envista Trading Down 0.0 %

The firm's 50 day moving average is $19.94 and its 200 day moving average is $19.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.04 and a quick ratio of 1.77. The company has a market capitalization of $3.66 billion, a PE ratio of -3.27, a P/E/G ratio of 2.06 and a beta of 1.34.

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.