Envista (NYSE:NVST) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Envista (NYSE:NVST) from a strong-buy rating to a buy rating in a report published on Saturday.

A number of other equities analysts have also recently issued reports on NVST. Zacks Research cut Envista from a “strong-buy” rating to a “hold” rating in a report on Monday, September 15th. Mizuho set a $19.00 price objective on shares of Envista in a research note on Monday, November 3rd. Barclays began coverage on shares of Envista in a report on Monday, December 8th. They set an “overweight” rating and a $24.00 price objective for the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Envista in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Envista from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 16th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $21.77.

Envista Price Performance

NVST opened at $22.39 on Friday. The company has a fifty day moving average price of $20.42 and a two-hundred day moving average price of $20.30. The firm has a market capitalization of $3.68 billion, a PE ratio of 248.81, a P/E/G ratio of 1.10 and a beta of 1.02. Envista has a 52 week low of $14.22 and a 52 week high of $22.68. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.02 and a current ratio of 2.37.

Envista (NYSE:NVST) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Envista had a return on equity of 5.90% and a net margin of 0.58%.The business had revenue of $669.90 million for the quarter, compared to analyst estimates of $639.49 million. During the same period last year, the company earned $0.12 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. As a group, analysts anticipate that Envista will post 1 earnings per share for the current year.

Institutional Investors Weigh In On Envista

A number of hedge funds and other institutional investors have recently made changes to their positions in NVST. Alliancebernstein L.P. boosted its stake in Envista by 1,985.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company’s stock worth $78,547,000 after purchasing an additional 4,332,541 shares during the period. Holocene Advisors LP bought a new stake in shares of Envista in the second quarter valued at about $43,936,000. Norges Bank acquired a new position in shares of Envista during the second quarter worth about $40,229,000. Franklin Resources Inc. grew its holdings in shares of Envista by 16.7% during the second quarter. Franklin Resources Inc. now owns 8,956,572 shares of the company’s stock worth $175,011,000 after buying an additional 1,284,767 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in Envista in the 3rd quarter valued at approximately $24,260,000.

About Envista

Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company’s offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.

Envista’s product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.