Envista (NYSE:NVST) Hits New 1-Year Low Following Analyst Downgrade

Shares of Envista Holdings Co. (NYSE:NVST) reached a new 52-week low during trading on Thursday after Robert W. Baird lowered their price target on the stock from $22.00 to $19.00. Robert W. Baird currently has a neutral rating on the stock. Envista traded as low as $18.09 and last traded at $19.99, with a volume of 486140 shares traded. The stock had previously closed at $19.75.

NVST has been the topic of a number of other research reports. SVB Leerink started coverage on shares of Envista in a research note on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Jefferies Financial Group downgraded shares of Envista from a “buy” rating to a “hold” rating and decreased their price target for the company from $30.00 to $23.00 in a research note on Friday, February 9th. William Blair downgraded shares of Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Finally, Morgan Stanley cut shares of Envista from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $33.00 to $21.00 in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $27.09.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Headinvest LLC bought a new position in shares of Envista in the third quarter worth about $28,000. Fifth Third Bancorp grew its holdings in shares of Envista by 98.1% in 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. bought a new position in shares of Envista in the third quarter worth about $47,000. Covestor Ltd grew its holdings in shares of Envista by 33.9% in the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after purchasing an additional 624 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Envista by 1,297.9% in the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock worth $63,000 after purchasing an additional 2,427 shares during the last quarter.

Envista Trading Down 0.9 %

The stock’s fifty day moving average price is $20.80 and its 200 day moving average price is $22.59. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.23 and a quick ratio of 1.90. The stock has a market capitalization of $3.36 billion, a P/E ratio of -31.23, a PEG ratio of 3.72 and a beta of 1.35.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $638.37 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. Research analysts forecast that Envista Holdings Co. will post 1.41 earnings per share for the current year.

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.