Envista (NYSE:NVST) Shares Down 2.1%

Shares of Envista Holdings Co. (NYSE:NVST) fell 2.1% during trading on Friday . The company traded as low as $16.34 and last traded at $16.39. 62,270 shares were traded during mid-day trading, a decline of 97% from the average session volume of 2,368,608 shares. The stock had previously closed at $16.74.

Analysts Set New Price Targets

NVST has been the topic of a number of recent analyst reports. Robert W. Baird decreased 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. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a report on Monday, June 3rd. Morgan Stanley cut Envista from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $33.00 to $21.00 in a report on Friday, April 26th. JPMorgan Chase & Co. reduced their target price on Envista from $29.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group dropped their price target on Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Envista has a consensus rating of “Hold” and a consensus price target of $22.85.

Envista Price Performance

The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average price of $17.74 and a two-hundred day moving average price of $20.53. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -22.28, a price-to-earnings-growth ratio of 13.95 and a beta of 1.31.

Envista (NYSE:NVST) last issued its quarterly earnings data 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). Envista had a negative net margin of 4.70% and a positive return on equity of 5.84%. The company had revenue of $623.60 million for the quarter, compared to the consensus estimate of $634.85 million. During the same quarter last year, the business posted $0.38 earnings per share. Envista’s revenue was down .6% on a year-over-year basis. As a group, research analysts anticipate that Envista Holdings Co. will post 1.2 EPS for the current year.

Hedge Funds Weigh In On Envista

Several large investors have recently bought and sold shares of the stock. Profit Investment Management LLC lifted its stake in Envista by 44.5% during the 2nd quarter. Profit Investment Management LLC now owns 193,429 shares of the company’s stock valued at $3,217,000 after acquiring an additional 59,608 shares in the last quarter. CWM LLC increased its position in shares of Envista by 203.3% during the 2nd quarter. CWM LLC now owns 14,899 shares of the company’s stock valued at $248,000 after purchasing an additional 9,986 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Envista by 287.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 169,648 shares of the company’s stock valued at $2,821,000 after purchasing an additional 125,861 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Envista by 1,420.3% during the 2nd quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock valued at $52,000 after purchasing an additional 2,940 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Envista during the 1st quarter valued at $53,412,000.

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.