Envista (NYSE:NVST) Lowered to Hold Rating by Zacks Research

Key Points

• Envista was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating, while other analysts have also adjusted their ratings, with the consensus now at "hold."
• The company's stock opened at $21.07 and has a 52-week range of $14.22 to $23.00, with a market capitalization of $3.50 billion.
• Envista's latest quarterly earnings showed a revenue of $682.10 million, exceeding analyst estimates, indicating a 7.7% increase compared to the same quarter last year.

Zacks Research cut shares of Envista (NYSE:NVST - Free Report) from a strong-buy rating to a hold rating in a research note published on Monday,Zacks.com reports.

A number of other analysts have also recently commented on NVST. Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and upped their target price for the company from $21.00 to $23.00 in a report on Tuesday, May 27th. UBS Group upped their target price on shares of Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Piper Sandler lifted their price objective on shares of Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Baird R W raised shares of Envista from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. Finally, Stifel Nicolaus lifted their price objective on shares of Envista from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $20.92.

Envista Stock Down 0.6%

NYSE:NVST traded down $0.12 during mid-day trading on Monday, hitting $20.91. 4,326,082 shares of the company's stock were exchanged, compared to its average volume of 2,490,075. The business has a fifty day moving average price of $20.60 and a 200 day moving average price of $18.61. The company has a market cap of $3.47 billion, a PE ratio of 65.35, a P/E/G ratio of 1.12 and a beta of 0.99. Envista has a one year low of $14.22 and a one year high of $23.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.44 and a quick ratio of 2.08.

Envista (NYSE:NVST - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. The firm had revenue of $682.10 million for the quarter, compared to the consensus estimate of $638.21 million. Envista had a net margin of 2.11% and a return on equity of 4.84%. The business's revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. Equities analysts predict that Envista will post 1 EPS for the current year.

Institutional Investors Weigh In On Envista

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ariel Investments LLC lifted its holdings in Envista by 1.7% during the 2nd quarter. Ariel Investments LLC now owns 12,355,666 shares of the company's stock valued at $241,430,000 after buying an additional 210,921 shares in the last quarter. Franklin Resources Inc. increased its position in Envista by 16.7% during the 2nd quarter. Franklin Resources Inc. now owns 8,956,572 shares of the company's stock valued at $175,011,000 after purchasing an additional 1,284,767 shares during the period. Dimensional Fund Advisors LP increased its position in Envista by 24.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company's stock valued at $144,760,000 after purchasing an additional 1,625,206 shares during the period. Alliancebernstein L.P. increased its position in Envista by 34.0% during the 2nd quarter. Alliancebernstein L.P. now owns 6,098,445 shares of the company's stock valued at $119,164,000 after purchasing an additional 1,547,656 shares during the period. Finally, Gates Capital Management Inc. increased its position in Envista by 10.0% during the 1st quarter. Gates Capital Management Inc. now owns 5,163,745 shares of the company's stock valued at $89,126,000 after purchasing an additional 469,597 shares during the period.

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.