Envista (NYSE:NVST) Shares Up 5.6% – Here’s Why

Envista Holdings Corporation (NYSE:NVST) shares traded up 5.6% during trading on Wednesday . The stock traded as high as $21.80 and last traded at $21.7690. 530,669 shares traded hands during trading, a decline of 78% from the average session volume of 2,368,679 shares. The stock had previously closed at $20.62.

Analyst Ratings Changes

A number of brokerages have weighed in on NVST. Robert W. Baird set a $27.00 target price on Envista in a report on Friday, October 31st. Zacks Research downgraded Envista from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Wall Street Zen raised Envista from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 1st. Evercore ISI reiterated an “outperform” rating on shares of Envista in a research report on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Envista in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.54.

Envista Stock Performance

The firm has a market capitalization of $3.61 billion, a P/E ratio of 244.04, a price-to-earnings-growth ratio of 1.09 and a beta of 1.02. The company has a 50-day moving average of $20.14 and a 200-day moving average of $20.08. 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 data on Wednesday, October 29th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Envista had a return on equity of 5.90% and a net margin of 0.58%.The company had revenue of $669.90 million during the quarter, compared to the consensus estimate of $639.49 million. During the same period last year, the company earned $0.12 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts anticipate that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envista

Several large investors have recently modified their holdings of NVST. Farther Finance Advisors LLC boosted its position in Envista by 317.6% during the third quarter. Farther Finance Advisors LLC now owns 1,349 shares of the company’s stock valued at $27,000 after acquiring an additional 1,026 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in shares of Envista by 16,711.1% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,513 shares of the company’s stock worth $31,000 after acquiring an additional 1,504 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Envista by 73.1% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248 shares of the company’s stock valued at $44,000 after purchasing an additional 949 shares during the period. SJS Investment Consulting Inc. boosted its position in shares of Envista by 10,356.5% during the 3rd quarter. SJS Investment Consulting Inc. now owns 2,405 shares of the company’s stock valued at $49,000 after purchasing an additional 2,382 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Envista by 378.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,414 shares of the company’s stock valued at $47,000 after purchasing an additional 1,909 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.