UBS Group Forecasts Strong Price Appreciation for Envista (NYSE:NVST) Stock

Key Points

• UBS Group has raised its price target for Envista from $18.00 to $22.00, signaling a potential upside of 6.74% from the stock's previous close, while maintaining a "neutral" rating.
• The stock currently has an average price target of $20.54, with a mixed rating distribution: nine hold ratings, four buy ratings, and one strong buy rating from analysts.
• Envista reported $0.24 EPS for the last quarter, surpassing expectations, despite a 1.1% decrease in revenue year-over-year, totaling $616.90 million.

Envista (NYSE:NVST - Free Report) had its price target increased by UBS Group from $18.00 to $22.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other brokerages have also issued reports on NVST. Evercore ISI raised their price target on shares of Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a report on Wednesday, July 9th. Piper Sandler cut their price target on shares of Envista from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley set a $16.00 price target on shares of Envista in a report on Tuesday, April 15th. Bank of America cut their target price on shares of Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $21.00 to $23.00 in a research note on Tuesday, May 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.92.

Envista Trading Up 10.0%

Shares of Envista stock traded up $1.89 during trading on Tuesday, reaching $20.78. The company's stock had a trading volume of 6,198,369 shares, compared to its average volume of 2,233,196. Envista has a 52-week low of $14.22 and a 52-week high of $23.00. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 64.94, a PEG ratio of 1.19 and a beta of 1.00. The firm's 50-day moving average is $19.41 and its two-hundred day moving average is $18.61. 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 (NYSE:NVST - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $682.10 million during the quarter, compared to analysts' expectations of $638.21 million. Envista had a net margin of 2.11% and a return on equity of 4.89%. The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.11 EPS. On average, sell-side analysts anticipate that Envista will post 1 earnings per share for the current year.

Institutional Investors Weigh In On Envista

Institutional investors have recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in shares of Envista by 214.4% during the first quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock valued at $36,000 after buying an additional 1,428 shares during the last quarter. Parallel Advisors LLC lifted its position in Envista by 100.1% during the second 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 during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in Envista during the fourth quarter valued at approximately $86,000. Palouse Capital Management Inc. lifted its position in Envista by 14.4% during the first 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 during the period. Finally, FourThought Financial Partners LLC bought a new position in Envista during the first quarter valued at approximately $180,000.

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.