Envista (NYSE:NVST) Shares Gap Up on Earnings Beat

Key Points

• Envista Holdings Corporation saw a significant jump in its stock price, opening at $20.24 after closing the previous day at $18.89, following a strong earnings report.
• The company reported an EPS of $0.26, exceeding analyst expectations of $0.24, and its revenue for the quarter was up 7.7% year-over-year, totaling $682.10 million.
• Analysts have mixed views on the stock, with upgrades from Robert W. Baird to an "outperform" rating and target price adjustments ranging from $16.00 to $26.00 among various firms.

Envista Holdings Corporation (NYSE:NVST - Get Free Report) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $18.89, but opened at $20.24. Envista shares last traded at $20.49, with a volume of 1,111,160 shares traded.

The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $682.10 million during the quarter, compared to the consensus estimate of $638.21 million. Envista had a return on equity of 4.84% and a net margin of 2.11%. The company's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS.

Analyst Ratings Changes

Several research analysts recently weighed in on NVST shares. Stifel Nicolaus upped their price target on Envista from $24.00 to $25.00 and gave the company a "buy" rating in a research report on Friday. Bank of America dropped their price target on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Baird R W raised Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Mizuho upped their price target on Envista from $15.00 to $18.00 and gave the company an "underperform" rating in a research report on Friday. Finally, Wall Street Zen raised Envista from a "buy" rating to a "strong-buy" rating in a research report on Saturday. One 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $20.92.

Institutional Investors Weigh In On Envista

A number of large investors have recently bought and sold shares of the business. Treasurer of the State of North Carolina grew its position in shares of Envista by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 75,560 shares of the company's stock valued at $1,458,000 after purchasing an additional 480 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Envista by 5.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 20,100 shares of the company's stock worth $393,000 after purchasing an additional 1,067 shares during the period. Palouse Capital Management Inc. grew its holdings in shares of Envista by 14.4% in the 1st 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 during the last quarter. California Public Employees Retirement System raised its stake in shares of Envista by 0.4% in the fourth quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock valued at $5,566,000 after acquiring an additional 1,272 shares during the last quarter. Finally, Parallel Advisors LLC raised its stake 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 acquiring an additional 1,397 shares during the last quarter.

Envista Stock Down 2.0%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.08 and a current ratio of 2.44. The firm's 50-day moving average is $19.49 and its two-hundred day moving average is $18.61. The stock has a market cap of $3.33 billion, a P/E ratio of 62.70, a PEG ratio of 1.22 and a beta of 1.00.

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.