Bank of America Lowers Envista (NYSE:NVST) Price Target to $23.00

Envista (NYSE:NVST) had its target price lowered by Bank of America from $26.00 to $23.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts have also commented on the stock. Piper Sandler increased their target price on shares of Envista from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Morgan Stanley set a $16.00 price objective on Envista in a research note on Tuesday, April 15th. Jefferies Financial Group increased their target price on Envista from $20.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. decreased their price target on Envista from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, March 6th. Finally, New Street Research set a $19.00 price objective on Envista in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.18.

Envista Stock Up 1.8 %

NVST opened at $16.37 on Tuesday. The business’s fifty day simple moving average is $16.80 and its 200 day simple moving average is $19.05. Envista has a 52 week low of $14.22 and a 52 week high of $23.00. The company has a quick ratio of 1.76, a current ratio of 2.04 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.77 billion, a PE ratio of -2.52, a P/E/G ratio of 1.27 and a beta of 1.12.

Envista (NYSE:NVST) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $616.90 million for the quarter, compared to analyst estimates of $608.17 million. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. The company’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 EPS. As a group, research analysts expect that Envista will post 1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envista

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Envista by 26.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company’s stock worth $78,480,000 after buying an additional 830,861 shares during the period. GAMMA Investing LLC grew its holdings in Envista by 30.5% in the fourth quarter. GAMMA Investing LLC now owns 2,304 shares of the company’s stock worth $44,000 after purchasing an additional 538 shares during the period. First Hawaiian Bank increased its stake in shares of Envista by 19.9% during the fourth quarter. First Hawaiian Bank now owns 32,285 shares of the company’s stock valued at $623,000 after purchasing an additional 5,363 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Envista during the fourth quarter valued at approximately $53,000. Finally, Profit Investment Management LLC boosted its position in shares of Envista by 6.0% in the 4th quarter. Profit Investment Management LLC now owns 127,597 shares of the company’s stock worth $2,461,000 after purchasing an additional 7,226 shares in the last quarter.

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.