Envista's (NVST) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Envista (NYSE:NVST - Free Report) in a research report report published on Thursday, Benzinga reports.

A number of other analysts also recently commented on NVST. JPMorgan Chase & Co. downgraded Envista from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Evercore ISI upped their target price on Envista from $18.00 to $23.00 and gave the stock an "outperform" rating in a research note on Monday, September 23rd. Bank of America lowered their price target on Envista from $22.00 to $19.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Piper Sandler lowered their price target on Envista from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 30th. Finally, Robert W. Baird increased their price target on Envista from $17.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $20.71.

Envista Stock Performance

Envista stock traded up $1.74 during trading hours on Thursday, hitting $20.97. 6,325,138 shares of the stock traded hands, compared to its average volume of 2,433,684. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.22 and a quick ratio of 1.90. The firm's 50 day moving average price is $18.54 and its 200-day moving average price is $18.04. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -2.76 and a beta of 1.32. Envista has a 1 year low of $15.15 and a 1 year high of $25.64.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The business had revenue of $601.00 million for the quarter, compared to the consensus estimate of $590.34 million. Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. The company's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS. As a group, equities analysts expect that Envista will post 0.69 EPS for the current fiscal year.

Insider Activity at Envista

In related news, CFO Eric D. Hammes purchased 24,532 shares of the business's stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $16.33 per share, with a total value of $400,607.56. Following the completion of the acquisition, the chief financial officer now owns 24,532 shares in the company, valued at $400,607.56. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Envista during the third quarter worth $31,000. GAMMA Investing LLC boosted its position in shares of Envista by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $35,000 after buying an additional 726 shares during the period. Blue Trust Inc. boosted its position in shares of Envista by 69.7% during the third quarter. Blue Trust Inc. now owns 1,957 shares of the company's stock worth $39,000 after buying an additional 804 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Envista by 50.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company's stock worth $43,000 after buying an additional 728 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Envista by 1,420.3% in the second quarter. Versant Capital Management Inc now owns 3,147 shares of the company's stock valued at $52,000 after purchasing an additional 2,940 shares during the period.

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.