Envista (NYSE:NVST) Downgraded to Equal Weight at Morgan Stanley

Envista (NYSE:NVST) was downgraded by Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Friday, MarketBeat.com reports. They presently have a $21.00 price target on the stock, down from their prior price target of $33.00. Morgan Stanley’s price target suggests a potential upside of 4.90% from the stock’s previous close.

Several other brokerages have also commented on NVST. SVB Leerink assumed coverage on shares of Envista in a research report on Monday, February 26th. They set an “underperform” rating and a $19.00 price target for the company. Leerink Partnrs reissued an “underperform” rating on shares of Envista in a research report on Monday, February 26th. TheStreet cut Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group initiated coverage on shares of Envista in a research report on Friday, January 5th. They set a “neutral” rating and a $26.00 price target on the stock. Finally, Jefferies Financial Group lowered shares of Envista from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $30.00 to $23.00 in a research report on Friday, February 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Envista presently has an average rating of “Hold” and an average target price of $27.90.

Envista Trading Down 1.3 %

Shares of Envista stock opened at $20.02 on Friday. The firm has a market cap of $3.44 billion, a PE ratio of -32.82, a P/E/G ratio of 3.79 and a beta of 1.35. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33. Envista has a fifty-two week low of $18.95 and a fifty-two week high of $38.68. The business’s fifty day moving average is $21.00 and its two-hundred day moving average is $22.76.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.04). Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. The business had revenue of $645.60 million during the quarter, compared to analyst estimates of $638.37 million. During the same period in the previous year, the business posted $0.52 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts anticipate that Envista will post 1.43 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Headinvest LLC acquired a new stake in shares of Envista during the third quarter worth approximately $28,000. Fifth Third Bancorp lifted its position in shares of Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in Envista in the third quarter worth about $47,000. Signaturefd LLC increased its holdings in Envista by 1,297.9% in the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after buying an additional 2,427 shares during the last quarter. Finally, Covestor Ltd raised its stake in Envista by 33.9% during the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock valued at $69,000 after buying an additional 624 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.