Piper Sandler Forecasts Strong Price Appreciation for Envista (NYSE:NVST) Stock

Key Points

• Analysts at Piper Sandler raised the price target for Envista from $17.00 to $19.00, indicating a potential upside of 0.61% from its current stock price.
• Envista's most recent quarterly earnings report showed a 7.7% increase in revenue year-over-year, with earnings per share beating expectations at $0.26 compared to a consensus of $0.24.
• The company currently holds a consensus rating of "Hold" among analysts, with a price target average of $20.69.

Envista (NYSE:NVST - Get Free Report) had its price objective raised by stock analysts at Piper Sandler from $17.00 to $19.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Piper Sandler's price objective indicates a potential downside of 4.59% from the stock's current price.

A number of other research analysts also recently issued reports on NVST. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $21.00 to $23.00 in a report on Tuesday, May 27th. Baird R W upgraded shares of Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Morgan Stanley set a $16.00 price target on shares of Envista in a report on Tuesday, April 15th. Bank of America reduced their price objective on shares of Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group raised their target price on shares of Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $20.92.

Envista Trading Down 2.8%

Shares of Envista stock traded down $0.57 on Friday, hitting $19.91. 1,588,732 shares of the company traded hands, compared to its average volume of 2,625,059. Envista has a 52 week low of $14.22 and a 52 week high of $23.00. The company has a market cap of $3.31 billion, a PE ratio of 62.26, a PEG ratio of 1.22 and a beta of 1.00. The stock's 50 day moving average price is $19.49 and its 200-day moving average price is $18.61. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46.

Envista (NYSE:NVST - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm 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 firm's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. Equities research analysts predict that Envista will post 1 EPS for the current year.

Institutional Investors Weigh In On Envista

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in Envista by 214.4% during the first quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock worth $36,000 after buying an additional 1,428 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Envista by 100.1% in the 2nd quarter. Parallel Advisors LLC now owns 2,792 shares of the company's stock valued at $55,000 after purchasing an additional 1,397 shares in the last quarter. Palouse Capital Management Inc. increased its stake 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 valued at $163,000 after purchasing an additional 1,186 shares in the last quarter. FourThought Financial Partners LLC acquired a new position in Envista in the 1st quarter worth about $180,000. Finally, Vestcor Inc acquired a new stake in Envista in the first quarter valued at approximately $211,000.

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.