Envista (NYSE:NVST) Stock Price Expected to Rise, Mizuho Analyst Says

Key Points

• Mizuho analysts have raised their price target for Envista (NYSE:NVST) from $15.00 to $18.00, indicating a potential downside of 13.34% from the current stock price despite an "underperform" rating.
• Various other analysts have increased their price targets for Envista, with Evercore ISI setting a target of $23.00 and UBS Group setting a target of $22.00, suggesting a more favorable outlook.
• Envista reported positive quarterly earnings, with an EPS of $0.26, exceeding analysts' estimates and showing a 7.7% revenue increase year-over-year.

Envista (NYSE:NVST - Get Free Report) had its price target increased by analysts at Mizuho from $15.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an "underperform" rating on the stock. Mizuho's target price would indicate a potential downside of 13.34% from the company's current price.

Other analysts have also issued research reports about the company. Morgan Stanley increased their target price on Envista from $16.00 to $17.00 and gave the company an "equal weight" rating in a report on Friday. Piper Sandler increased their target price on Envista from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday. Evercore ISI increased their price objective on Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. UBS Group increased their price objective on Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday. Finally, Baird R W upgraded Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $20.92.

Envista Price Performance

Shares of NYSE:NVST traded up $1.88 on Friday, reaching $20.77. 3,190,788 shares of the company traded hands, compared to its average volume of 2,606,724. Envista has a fifty-two week low of $14.22 and a fifty-two week high of $23.00. The company's 50 day moving average is $19.33 and its 200-day moving average is $18.60. The stock has a market capitalization of $3.52 billion, a PE ratio of -3.17, a P/E/G ratio of 1.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.12 and a quick ratio of 1.82.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.26 EPS for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The company had revenue of $682.10 million during the quarter, compared to the consensus estimate of $638.21 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The company's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that Envista will post 1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envista

Several hedge funds and other institutional investors have recently made changes to their positions in NVST. Norges Bank acquired a new stake in shares of Envista in the fourth quarter valued at about $38,052,000. Pictet Asset Management Holding SA grew its position in shares of Envista by 20.4% in the fourth quarter. Pictet Asset Management Holding SA now owns 24,338 shares of the company's stock valued at $469,000 after purchasing an additional 4,121 shares during the last quarter. California Public Employees Retirement System grew its position 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 purchasing an additional 1,272 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Envista in the fourth quarter valued at about $5,982,000. Finally, Massachusetts Financial Services Co. MA grew its position in shares of 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 purchasing 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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