Envista (NYSE:NVST) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Envista (NYSE:NVST) announced its quarterly earnings data on Wednesday. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03, Briefing.com reports. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. Envista’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.43 earnings per share.

Envista Trading Up 10.9 %

Shares of NVST traded up $2.10 during mid-day trading on Thursday, reaching $21.33. The company had a trading volume of 3,823,055 shares, compared to its average volume of 2,421,491. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of -2.77 and a beta of 1.32. The company has a current ratio of 2.22, a quick ratio of 1.90 and a debt-to-equity ratio of 0.47. The firm has a fifty day simple moving average of $18.54 and a 200-day simple moving average of $18.04. Envista has a fifty-two week low of $15.15 and a fifty-two week high of $25.64.

Insider Buying and Selling

In other news, CFO Eric D. Hammes acquired 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $16.33 per share, with a total value of $400,607.56. Following the purchase, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.30% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Leerink Partners upgraded shares of Envista from an “underperform” rating to a “market perform” rating and increased their price target for the company from $16.00 to $23.00 in a report on Thursday. Stifel Nicolaus lifted their price objective on Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird boosted their target price on Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday. Wells Fargo & Company assumed coverage on shares of Envista in a report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 target price for the company. Finally, Evercore ISI upped their price target on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.63.

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.