Envista (NYSE:NVST) Downgraded by Zacks Research to Hold

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

Several other equities research analysts have also commented on the stock. Stifel Nicolaus raised their price target on shares of Envista from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Morgan Stanley raised their price target on shares of Envista from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen downgraded shares of Envista from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Mizuho raised their price target on shares of Envista from $15.00 to $18.00 and gave the stock an "underperform" rating in a research report on Friday, August 1st. Finally, 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 research note on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Envista currently has an average rating of "Hold" and a consensus target price of $20.92.

Envista Stock Performance

Shares of NYSE NVST traded down $0.12 during midday trading on Monday, reaching $20.91. 4,326,082 shares of the company were exchanged, compared to its average volume of 1,561,417. Envista has a 1 year low of $14.22 and a 1 year high of $23.00. The stock has a fifty day simple moving average of $20.62 and a 200 day simple moving average of $18.63. The stock has a market cap of $3.47 billion, a P/E ratio of 65.35, a PEG ratio of 1.12 and a beta of 0.99. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Envista had a return on equity of 4.84% and a net margin of 2.11%.The company had revenue of $682.10 million for the quarter, compared to analyst estimates of $638.21 million. During the same quarter in the previous year, the company earned $0.11 EPS. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. On average, research analysts forecast that Envista will post 1 earnings per share for the current fiscal year.

Institutional Trading of Envista

Institutional investors have recently bought and sold shares of the stock. UMB Bank n.a. increased its stake in shares of Envista by 214.4% during the first quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock valued at $36,000 after buying an additional 1,428 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Envista by 73.1% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,248 shares of the company's stock worth $44,000 after purchasing an additional 949 shares during the period. EverSource Wealth Advisors LLC raised its position in Envista by 378.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,414 shares of the company's stock valued at $47,000 after acquiring an additional 1,909 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Envista by 100.1% in the second quarter. Parallel Advisors LLC now owns 2,792 shares of the company's stock valued at $55,000 after buying an additional 1,397 shares in the last quarter. Finally, Palouse Capital Management Inc. increased its position in shares of Envista by 14.4% during the first quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock worth $163,000 after purchasing an additional 1,186 shares in the last quarter.

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.