Envista (NYSE:NVST) Raised to Market Perform at Leerink Partners

Envista (NYSE:NVST - Get Free Report) was upgraded by stock analysts at Leerink Partners from an "underperform" rating to a "market perform" rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $23.00 price objective on the stock, up from their previous price objective of $16.00. Leerink Partners' price objective suggests a potential upside of 9.68% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut Envista from an "overweight" rating to a "neutral" rating and decreased their price target for the company from $23.00 to $16.00 in a research report on Thursday, August 8th. Wells Fargo & Company started coverage on Envista in a research report on Tuesday, October 8th. They set an "equal weight" rating and a $20.00 price target on the stock. Piper Sandler decreased 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. Robert W. Baird decreased their price target on Envista from $19.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, July 22nd. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Envista in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Envista currently has a consensus rating of "Hold" and a consensus price target of $20.71.

Envista Stock Performance

NYSE NVST traded up $1.74 during trading on Thursday, hitting $20.97. 6,325,138 shares of the company's stock traded hands, compared to its average volume of 2,433,710. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of -2.72 and a beta of 1.32. Envista has a 12-month low of $15.15 and a 12-month high of $25.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. The business has a 50 day moving average of $18.60 and a 200-day moving average of $18.06.

Envista (NYSE:NVST - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.12 EPS 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 negative net margin of 52.25% and a positive return on equity of 4.86%. The company's revenue was down 4.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. As a group, equities research analysts anticipate that Envista will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Envista

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the completion of the transaction, the chief financial officer now directly owns 24,532 shares of the company's stock, valued at approximately $400,607.56. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.30% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in NVST. Ariel Investments LLC boosted its stake in Envista by 11.0% during the second quarter. Ariel Investments LLC now owns 9,871,152 shares of the company's stock worth $164,157,000 after acquiring an additional 978,952 shares in the last quarter. Nuance Investments LLC increased its holdings in Envista by 47.2% during the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company's stock valued at $117,048,000 after buying an additional 2,256,993 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Envista by 15.4% in the second quarter. American Century Companies Inc. now owns 6,726,651 shares of the company's stock worth $111,864,000 after purchasing an additional 897,141 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Envista in the second quarter worth $69,534,000. Finally, Van Lanschot Kempen Investment Management N.V. increased its stake in shares of Envista by 32.9% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,936,916 shares of the company's stock worth $48,841,000 after purchasing an additional 727,406 shares in the last quarter.

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.