Envista (NYSE:NVST) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Envista (NYSE:NVST) has been upgraded to a "strong-buy" rating by Wall Street Zen, reflecting an optimistic view on its stock performance.
• Multiple analysts have adjusted their price targets for the stock, with Piper Sandler increasing it to $19.00 while Mizuho set theirs at $18.00, indicating varying degrees of confidence among experts.
• The company's latest earnings report showed earnings per share (EPS) of $0.26, surpassing analysts' estimates, and a year-over-year revenue increase of 7.7% to $682.10 million.

Envista (NYSE:NVST - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research report issued on Saturday.

A number of other equities analysts also recently commented on NVST. Piper Sandler upped their target price on shares of Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday. Mizuho raised their price objective on Envista from $15.00 to $18.00 and gave the stock an "underperform" rating in a report on Friday. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $21.00 to $23.00 in a report on Tuesday, May 27th. Bank of America cut their price target on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on Envista from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.92.

Envista Price Performance

NVST opened at $20.78 on Friday. The business has a fifty day moving average of $19.41 and a 200 day moving average of $18.61. The stock has a market cap of $3.52 billion, a P/E ratio of 64.94, a PEG ratio of 1.19 and a beta of 1.00. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.43. Envista has a 52-week low of $14.22 and a 52-week high of $23.00.

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, beating analysts' consensus estimates of $0.24 by $0.02. The firm had revenue of $682.10 million during the quarter, compared to analyst estimates of $638.21 million. Envista had a net margin of 2.11% and a return on equity of 4.89%. The business's revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 earnings per share. As a group, sell-side analysts anticipate that Envista will post 1 EPS for the current year.

Institutional Investors Weigh In On Envista

Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Envista in the fourth quarter worth $38,052,000. Pictet Asset Management Holding SA grew its stake in Envista by 20.4% during the 4th quarter. Pictet Asset Management Holding SA now owns 24,338 shares of the company's stock worth $469,000 after buying an additional 4,121 shares during the last quarter. California Public Employees Retirement System increased its position in Envista by 0.4% during the 4th quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock valued at $5,566,000 after buying an additional 1,272 shares in the last quarter. Trexquant Investment LP acquired a new position in Envista during the 4th quarter valued at about $5,982,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Envista by 9.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,271,175 shares of the company's stock valued at $63,101,000 after buying an additional 283,415 shares during 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.

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