Morgan Stanley Issues Positive Forecast for Envista (NYSE:NVST) Stock Price

Key Points

• Morgan Stanley has raised its price target for Envista (NYSE:NVST) from $16.00 to $17.00, while maintaining an "equal weight" rating on the stock.
• Other analysts have mixed opinions, with UBS raising its target to $22.00 and Bank of America lowering it to $23.00, reflecting varied sentiments in the market.
• Envista's stock has seen a 6.7% increase recently, trading at $20.16 with a market cap of $3.42 billion.

Envista (NYSE:NVST - Free Report) had its target price increased by Morgan Stanley from $16.00 to $17.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Other analysts have also recently issued research reports about the company. Evercore ISI boosted their price target on Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Robert W. Baird raised Envista from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $21.00 to $23.00 in a research report on Tuesday, May 27th. Bank of America dropped their price target on shares of 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 shares of Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Finally, UBS Group lifted their target price on shares of Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.92.

Envista Stock Down 2.0%

Shares of NVST traded down $0.42 during trading hours on Friday, reaching $20.06. The company's stock had a trading volume of 2,073,269 shares, compared to its average volume of 2,627,642. The company has a 50 day moving average of $19.49 and a two-hundred day moving average of $18.61. The company has a quick ratio of 2.08, a current ratio of 2.44 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 62.70, a P/E/G ratio of 1.22 and a beta of 1.00. Envista has a 1-year low of $14.22 and a 1-year high of $23.00.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Envista had a return on equity of 4.84% and a net margin of 2.11%. The business had revenue of $682.10 million during the quarter, compared to analyst estimates of $638.21 million. During the same period last year, the company earned $0.11 earnings per share. Envista's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Envista will post 1 EPS for the current fiscal year.

Institutional Trading of Envista

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. UMB Bank n.a. increased 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 worth $36,000 after buying an additional 1,428 shares in the last quarter. Parallel Advisors LLC grew its position in Envista by 100.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,792 shares of the company's stock worth $55,000 after acquiring an additional 1,397 shares during the last quarter. Palouse Capital Management Inc. increased its holdings in Envista by 14.4% during 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 bought a new position in Envista in the 1st quarter valued at $180,000. Finally, Tower Research Capital LLC TRC raised its position in Envista by 51.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 11,057 shares of the company's stock valued at $213,000 after purchasing an additional 3,751 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.