Bank of America Lowers Envista (NYSE:NVST) Price Target to $23.00

Envista (NYSE:NVST - Get Free Report) had its target price decreased by stock analysts at Bank of America from $26.00 to $23.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Bank of America's target price points to a potential upside of 35.81% from the stock's current price.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Envista from $20.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, January 23rd. UBS Group cut their price target on Envista from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Monday, March 10th. Morgan Stanley set a $16.00 price target on shares of Envista in a report on Tuesday, April 15th. New Street Research set a $19.00 target price on Envista in a report on Thursday, March 6th. Finally, Wells Fargo & Company set a $19.00 price target on shares of Envista in a research report on Saturday, March 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.18.

Envista Stock Performance

NYSE:NVST traded up $0.60 during mid-day trading on Tuesday, hitting $16.94. 817,951 shares of the stock were exchanged, compared to its average volume of 2,525,598. Envista has a fifty-two week low of $14.22 and a fifty-two week high of $23.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.76 and a current ratio of 2.04. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of -2.60, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The firm's 50-day simple moving average is $16.80 and its 200 day simple moving average is $19.05.

Envista (NYSE:NVST - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $616.90 million for the quarter, compared to analysts' expectations of $608.17 million. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. As a group, equities analysts anticipate that Envista will post 1 EPS for the current fiscal year.

Hedge Funds Weigh In On Envista

Several large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. grew its holdings in Envista by 26.5% during the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company's stock worth $78,480,000 after buying an additional 830,861 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Envista by 30.5% in the 4th quarter. GAMMA Investing LLC now owns 2,304 shares of the company's stock worth $44,000 after acquiring an additional 538 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of Envista by 19.9% in the fourth quarter. First Hawaiian Bank now owns 32,285 shares of the company's stock valued at $623,000 after purchasing an additional 5,363 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Envista during the 4th quarter worth approximately $53,000. Finally, Profit Investment Management LLC grew its holdings in shares of Envista by 6.0% in the fourth quarter. Profit Investment Management LLC now owns 127,597 shares of the company's stock valued at $2,461,000 after acquiring an additional 7,226 shares in the last quarter.

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.