Envista (NYSE:NVST) Price Target Cut to $16.00 by Analysts at Piper Sandler

Envista (NYSE:NVST) had its price objective cut by analysts at Piper Sandler from $18.00 to $16.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Piper Sandler’s price target points to a potential downside of 2.50% from the company’s previous close.

Several other equities analysts have also issued reports on NVST. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Tuesday, July 16th. Morgan Stanley downgraded shares of Envista from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $33.00 to $21.00 in a research note on Friday, April 26th. JPMorgan Chase & Co. decreased their price objective on Envista from $29.00 to $23.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Evercore ISI dropped their target price on Envista from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Finally, The Goldman Sachs Group decreased their price target on Envista from $20.00 to $17.50 and set a “sell” rating for the company 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 given a buy rating to the company. According to MarketBeat, Envista currently has a consensus rating of “Hold” and an average target price of $21.75.

Envista Price Performance

NVST opened at $16.41 on Tuesday. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.34. The business’s fifty day simple moving average is $17.20 and its 200-day simple moving average is $19.90. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -22.79, a PEG ratio of 13.65 and a beta of 1.31. Envista has a 12-month low of $15.69 and a 12-month high of $36.14.

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 positive return on equity of 5.84% and a negative net margin of 4.70%. Envista’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. On average, equities research analysts anticipate that Envista will post 1.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Fifth Third Bancorp increased 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 purchasing an additional 621 shares in the last quarter. Signaturefd LLC raised its stake 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 buying an additional 2,427 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 valued at $52,000 after acquiring an additional 2,940 shares during the period. Quadrant Capital Group LLC grew its stake in Envista by 538.0% in the 4th 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 during the period. Finally, Innealta Capital LLC purchased a new stake in Envista in the 2nd quarter worth $78,000.

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.