Envista (NYSE:NVST) Rating Increased 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.

Wall Street Zen upgraded shares of Envista (NYSE:NVST - Free Report) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

Several other research analysts have also weighed in on NVST. UBS Group raised their price objective on shares of Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Stifel Nicolaus lifted their price objective on shares of Envista from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Morgan Stanley lifted their price objective on shares of Envista from $16.00 to $17.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Robert W. Baird upgraded shares of Envista from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $21.00 to $23.00 in a research report on Tuesday, May 27th. Finally, Evercore ISI boosted their price target on shares of Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $20.92.

Envista Stock Down 2.8%

NVST traded down $0.57 during trading hours on Friday, reaching $19.50. 1,506,802 shares of the stock traded hands, compared to its average volume of 2,626,792. The firm's fifty day simple moving average is $19.53 and its two-hundred day simple moving average is $18.62. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 60.93, a PEG ratio of 1.10 and a beta of 1.00. 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 0.46, a current ratio of 2.44 and a quick ratio of 2.08.

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, topping the consensus estimate of $0.24 by $0.02. The company 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 4.84%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.11 EPS. As a group, analysts forecast that Envista will post 1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envista

Several large investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Envista in the 4th quarter worth about $38,052,000. Pictet Asset Management Holding SA grew its holdings 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 acquiring an additional 4,121 shares during the last quarter. California Public Employees Retirement System grew its holdings in Envista by 0.4% during the 4th quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock worth $5,566,000 after acquiring an additional 1,272 shares during the last quarter. Trexquant Investment LP bought a new stake in Envista during the 4th quarter worth about $5,982,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Envista by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,271,175 shares of the company's stock worth $63,101,000 after acquiring 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.