Needham & Company LLC Reiterates Hold Rating for Envista (NYSE:NVST)

Key Points

• Needham & Company reiterated a Hold rating on Envista, while the broader analyst consensus remains “Moderate Buy” with an average price target of $29.71.
• Envista shares opened at $23.72, down 5%, below their 50-day and 200-day moving averages. The company has a $3.81 billion market capitalization and trades at a price-to-earnings ratio of 40.90.
• Envista’s latest quarterly results exceeded expectations, with EPS of $0.41 versus the $0.34 consensus and revenue of $730.5 million, up 7.1% year over year.

Envista (NYSE:NVST - Get Free Report)'s stock had its "hold" rating restated by analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, MarketBeat reports.

NVST has been the subject of several other reports. Piper Sandler reissued a "neutral" rating and issued a $28.00 price objective (up from $26.00) on shares of Envista in a research note on Thursday, August 6th. Morgan Stanley set a $23.00 target price on Envista in a research report on Thursday, August 6th. BMO Capital Markets reiterated a "market perform" rating on shares of Envista in a report on Thursday, September 10th. Weiss Ratings raised Envista from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 6th. Finally, Robert W. Baird set a $34.00 price objective on Envista in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, Envista has a consensus rating of "Moderate Buy" and a consensus price target of $29.71.

Envista Stock Down 5.0%

Envista stock opened at $23.72 on Friday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 40.90, a price-to-earnings-growth ratio of 1.19 and a beta of 0.86. The firm's fifty day moving average price is $27.01 and its two-hundred day moving average price is $26.06. Envista has a 1-year low of $18.77 and a 1-year high of $30.42. The company has a current ratio of 2.43, a quick ratio of 2.07 and a debt-to-equity ratio of 0.47.

Envista (NYSE:NVST - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. Envista had a net margin of 3.33% and a return on equity of 7.88%. The company had revenue of $730.50 million for the quarter, compared to analyst estimates of $716.11 million. During the same quarter in the prior year, the business posted $0.26 EPS. The firm's revenue was up 7.1% compared to the same quarter last year. Envista has set its FY 2026 guidance at 1.500-1.550 EPS. On average, equities research analysts predict that Envista will post 1.53 earnings per share for the current fiscal year.

Insider Activity at Envista

In other news, SVP Mischa Reis sold 8,000 shares of Envista stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $27.50, for a total transaction of $220,000.00. Following the sale, the senior vice president directly owned 27,321 shares in the company, valued at $751,327.50. The trade was a 22.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.99% of the stock is owned by insiders.

Institutional Trading of Envista

A number of large investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its stake in shares of Envista by 341.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,858,293 shares of the company's stock worth $72,515,000 after acquiring an additional 2,210,847 shares during the period. Norges Bank bought a new stake in Envista in the 4th quarter valued at about $45,113,000. Wellington Management Group LLP raised its stake in Envista by 2,662.1% in the 2nd quarter. Wellington Management Group LLP now owns 1,686,415 shares of the company's stock valued at $44,437,000 after acquiring an additional 1,625,360 shares during the period. Bank of New York Mellon Corp purchased a new stake in Envista during the second quarter valued at about $37,316,000. Finally, Pzena Investment Management LLC purchased a new stake in Envista during the second quarter valued at about $30,494,000.

Envista Company Profile

Envista Holdings Corporation is a global dental products and technologies company headquartered in Brea, California. The company develops, manufactures and markets products used by dentists, dental specialists, dental laboratories and other oral-care professionals.

Envista's portfolio includes dental imaging and diagnostic systems, digital dentistry and CAD/CAM solutions, dental implants, orthodontic brackets and wires, clear aligner products, endodontic instruments, restorative materials, infection-prevention products and other dental consumables.

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