Leerink Partnrs Weighs in on Envista Holdings Co.’s Q2 2024 Earnings (NYSE:NVST)

Envista Holdings Co. (NYSE:NVST) – Stock analysts at Leerink Partnrs cut their Q2 2024 EPS estimates for shares of Envista in a research note issued to investors on Tuesday, July 9th. Leerink Partnrs analyst M. Cherny now forecasts that the company will post earnings per share of $0.29 for the quarter, down from their prior forecast of $0.30. The consensus estimate for Envista’s current full-year earnings is $1.20 per share. Leerink Partnrs also issued estimates for Envista’s Q4 2024 earnings at $0.32 EPS, FY2024 earnings at $1.17 EPS, FY2025 earnings at $1.33 EPS, FY2026 earnings at $1.49 EPS and FY2027 earnings at $1.61 EPS.

Envista (NYSE:NVST) last posted its earnings results on Wednesday, May 1st. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $623.60 million during the quarter, compared to the consensus estimate of $634.85 million. Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Envista from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. The Goldman Sachs Group dropped their price target on shares of Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a research note on Friday, May 3rd. Needham & Company LLC restated a “hold” rating on shares of Envista in a research note on Monday, June 3rd. Robert W. Baird lowered their target price on Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. Finally, Evercore ISI reduced their price target on Envista from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.86.

Envista Stock Down 0.8 %

Envista stock opened at $15.85 on Thursday. The stock has a market cap of $2.72 billion, a PE ratio of -22.01, a price-to-earnings-growth ratio of 13.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.93 and a current ratio of 2.27. The stock has a fifty day moving average of $17.86 and a 200 day moving average of $20.64. Envista has a one year low of $15.69 and a one year high of $36.14.

Institutional Investors Weigh In On Envista

Several hedge funds and other institutional investors have recently modified their holdings of NVST. Headinvest LLC purchased a new stake in Envista in the third quarter worth $28,000. Fifth Third Bancorp boosted its position in 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 buying an additional 621 shares during the period. Versant Capital Management Inc grew its stake in Envista by 1,420.3% in the 2nd quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock worth $52,000 after acquiring an additional 2,940 shares in the last quarter. Signaturefd LLC increased its position in shares of Envista by 1,297.9% during the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock worth $63,000 after acquiring an additional 2,427 shares during the period. Finally, Quadrant Capital Group LLC raised its stake in shares of Envista by 538.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,209 shares of the company’s stock valued at $77,000 after acquiring an additional 2,706 shares in the last quarter.

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.