Leerink Partnrs Analysts Decrease Earnings Estimates for Envista Holdings Co. (NYSE:NVST)

Envista Holdings Co. (NYSE:NVST - Free Report) - Stock analysts at Leerink Partnrs reduced their Q2 2024 earnings estimates for shares of Envista in a research note issued on Thursday, May 2nd. Leerink Partnrs analyst M. Cherny now expects that the company will earn $0.33 per share for the quarter, down from their prior estimate of $0.36. Leerink Partnrs has a "Underperform" rating on the stock. The consensus estimate for Envista's current full-year earnings is $1.41 per share. Leerink Partnrs also issued estimates for Envista's Q3 2024 earnings at $0.33 EPS, Q4 2024 earnings at $0.36 EPS, FY2024 earnings at $1.28 EPS, FY2025 earnings at $1.47 EPS, FY2026 earnings at $1.62 EPS and FY2027 earnings at $1.79 EPS.

Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group downgraded shares of Envista from a "buy" rating to a "hold" rating and cut their price target for the stock from $30.00 to $23.00 in a research note on Friday, February 9th. TheStreet cut Envista from a "c" rating to a "d+" rating in a report on Wednesday, February 7th. Robert W. Baird dropped their price target on Envista from $22.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday. William Blair cut Envista from an "outperform" rating to a "market perform" rating in a report on Thursday, February 8th. Finally, SVB Leerink initiated coverage on shares of Envista in a report on Monday, February 26th. They issued an "underperform" rating and a $19.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $25.86.

Envista Trading Down 4.0 %

Shares of NVST traded down $0.80 during mid-day trading on Friday, hitting $19.01. The company had a trading volume of 2,239,656 shares, compared to its average volume of 2,327,958. Envista has a 1-year low of $18.09 and a 1-year high of $36.74. The business's 50-day simple moving average is $20.74 and its 200-day simple moving average is $22.57. The stock has a market cap of $3.27 billion, a PE ratio of -26.62, a P/E/G ratio of 3.73 and a beta of 1.35. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33.

Envista (NYSE:NVST - Get Free Report) last released its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Envista had a positive return on equity of 5.80% and a negative net margin of 4.70%. The business had revenue of $623.60 million for the quarter, compared to analysts' expectations of $634.85 million. During the same quarter last year, the company posted $0.38 earnings per share. The business's quarterly revenue was down .6% compared to the same quarter last year.

Hedge Funds Weigh In On Envista

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NVST. Dakota Wealth Management boosted its stake in shares of Envista by 11.5% during the 3rd quarter. Dakota Wealth Management now owns 8,613 shares of the company's stock valued at $240,000 after buying an additional 890 shares during the last quarter. Raymond James & Associates acquired a new stake in Envista in the third quarter valued at $1,236,000. Verdence Capital Advisors LLC boosted its stake in Envista by 27.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 10,288 shares of the company's stock valued at $287,000 after acquiring an additional 2,198 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Envista by 20.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,884 shares of the company's stock worth $889,000 after acquiring an additional 5,342 shares in the last quarter. Finally, Strs Ohio grew its holdings in Envista by 19.4% during the 3rd quarter. Strs Ohio now owns 46,989 shares of the company's stock worth $1,310,000 after acquiring an additional 7,633 shares in the last quarter.

About Envista

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.