JPMorgan Chase & Co. Cuts Envista (NYSE:NVST) Price Target to $23.00

Envista (NYSE:NVST - Get Free Report) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from $29.00 to $23.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential upside of 16.10% from the company's current price.

A number of other research firms also recently issued reports on NVST. TheStreet downgraded shares of Envista from a "c" rating to a "d+" rating in a report on Wednesday, February 7th. Jefferies Financial Group cut Envista from a "buy" rating to a "hold" rating and lowered their target price for the stock from $30.00 to $23.00 in a research note on Friday, February 9th. Needham & Company LLC reiterated a "hold" rating on shares of Envista in a research note on Thursday. Robert W. Baird lowered their target price on Envista from $22.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday. Finally, Morgan Stanley cut Envista from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $33.00 to $21.00 in a research note on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Envista currently has an average rating of "Hold" and an average target price of $26.27.

Envista Stock Up 0.3 %

NVST traded up $0.06 during mid-day trading on Thursday, reaching $19.81. 4,654,068 shares of the stock were exchanged, compared to its average volume of 2,328,997. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.90 and a current ratio of 2.23. The stock has a market capitalization of $3.40 billion, a PE ratio of -32.47, a price-to-earnings-growth ratio of 3.72 and a beta of 1.35. The company has a 50 day moving average price of $20.80 and a two-hundred day moving average price of $22.59. Envista has a 1 year low of $18.09 and a 1 year high of $38.42.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.31 by ($0.05). The firm had revenue of $623.60 million for the quarter, compared to analysts' expectations of $634.85 million. Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. Envista's revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 earnings per share. As a group, research analysts anticipate that Envista will post 1.41 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Retirement Systems of Alabama grew its holdings in shares of Envista by 2.0% during the fourth quarter. Retirement Systems of Alabama now owns 504,572 shares of the company's stock worth $12,140,000 after purchasing an additional 10,120 shares in the last quarter. Foundry Partners LLC bought a new stake in Envista in the fourth quarter valued at approximately $3,571,000. Raymond James & Associates lifted its position in Envista by 820.6% in the fourth quarter. Raymond James & Associates now owns 408,218 shares of the company's stock valued at $9,822,000 after purchasing an additional 363,875 shares during the last quarter. River Road Asset Management LLC bought a new stake in Envista in the fourth quarter valued at approximately $54,931,000. Finally, DAVENPORT & Co LLC bought a new stake in Envista in the fourth quarter valued at approximately $13,233,000.

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.