Envista’s (NVST) Hold Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of Envista (NYSE:NVST) in a research note published on Thursday morning, Benzinga reports.

Several other brokerages have also commented on NVST. Jefferies Financial Group lowered shares of Envista from a buy rating to a hold rating and cut their price target for the stock from $30.00 to $23.00 in a report on Friday, February 9th. UBS Group began coverage on Envista in a research note on Friday, January 5th. They set a neutral rating and a $26.00 price objective for the company. Leerink Partnrs restated an underperform rating on shares of Envista in a research report on Monday, February 26th. SVB Leerink assumed coverage on Envista in a research report on Monday, February 26th. They set an underperform rating and a $19.00 price target for the company. Finally, TheStreet cut shares of Envista from a c rating to a d+ rating in a research note on Wednesday, February 7th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Hold and an average target price of $25.86.

Envista Stock Performance

NYSE NVST traded down $0.81 during mid-day trading on Thursday, reaching $19.00. 2,239,656 shares of the stock were exchanged, compared to its average volume of 1,979,218. Envista has a 1 year low of $18.09 and a 1 year high of $36.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.90 and a current ratio of 2.27. The business’s 50 day moving average is $20.66 and its 200-day moving average is $22.53. The company has a market capitalization of $3.27 billion, a P/E ratio of -26.40, a P/E/G ratio of 3.83 and a beta of 1.35.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). The business had revenue of $623.60 million during the quarter, compared to analysts’ expectations of $634.85 million. Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. Envista’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, equities research analysts forecast that Envista will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Envista

Hedge funds have recently modified their holdings of the business. Headinvest LLC purchased a new stake in Envista in the 3rd quarter valued at about $28,000. Fifth Third Bancorp raised its stake in shares of Envista by 98.1% in the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after acquiring an additional 621 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Envista in the 3rd quarter worth approximately $47,000. Signaturefd LLC boosted its position in shares of Envista by 1,297.9% during the 4th 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 period. Finally, Covestor Ltd boosted its position in shares of Envista by 33.9% during the 3rd quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after purchasing an additional 624 shares during the period.

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.