Envista (NYSE:NVST) Sets New 12-Month High – What’s Next?

Envista Holdings Corporation (NYSE:NVST)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $23.00 and last traded at $23.1090, with a volume of 57455 shares trading hands. The stock had previously closed at $22.55.

Analysts Set New Price Targets

Several brokerages have commented on NVST. Stifel Nicolaus set a $25.00 target price on shares of Envista in a research note on Thursday, October 30th. JPMorgan Chase & Co. raised their price objective on Envista from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Robert W. Baird set a $27.00 target price on Envista in a report on Friday, October 31st. Mizuho set a $19.00 price target on Envista in a report on Monday, November 3rd. Finally, Wall Street Zen cut Envista from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 20th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Envista presently has a consensus rating of “Hold” and an average target price of $21.77.

Envista Price Performance

The stock has a market cap of $3.81 billion, a price-to-earnings ratio of 257.75, a P/E/G ratio of 0.97 and a beta of 0.99. The company has a 50 day simple moving average of $20.80 and a 200-day simple moving average of $20.51. The company has a current ratio of 2.37, a quick ratio of 2.02 and a debt-to-equity ratio of 0.47.

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

Hedge Funds Weigh In On Envista

Several institutional investors and hedge funds have recently modified their holdings of NVST. Holocene Advisors LP acquired a new stake in Envista during the 2nd quarter worth approximately $43,936,000. Norges Bank acquired a new position in shares of Envista during the 2nd quarter worth $40,229,000. Alliancebernstein L.P. lifted its holdings in shares of Envista by 34.0% in the second quarter. Alliancebernstein L.P. now owns 6,098,445 shares of the company’s stock worth $119,164,000 after acquiring an additional 1,547,656 shares during the last quarter. Franklin Resources Inc. lifted its stake in Envista by 16.7% in the 2nd quarter. Franklin Resources Inc. now owns 8,956,572 shares of the company’s stock valued at $175,011,000 after purchasing an additional 1,284,767 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Envista in the 3rd quarter valued at $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.