Stifel Nicolaus Issues Positive Forecast for Envista (NYSE:NVST) Stock Price

Key Points

• Stifel Nicolaus has raised its target price for Envista (NYSE:NVST) stock from $24.00 to $25.00, indicating a potential upside of 20.62% from its previous close and maintaining a "buy" rating.
• Envista's stock traded up 9.7%, reaching $20.73, with a trading volume exceeding its average, amidst positive sentiment from multiple research analysts.
• The company reported an EPS of $0.26 for the last quarter, surpassing estimates and showing a revenue increase of 7.7% year-over-year.

Envista (NYSE:NVST - Get Free Report) had its target price raised by equities research analysts at Stifel Nicolaus from $24.00 to $25.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target suggests a potential upside of 20.62% from the stock's previous close.

A number of other equities research analysts have also weighed in on NVST. Baird R W raised shares of Envista from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. Robert W. Baird upgraded shares of 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 note on Tuesday, May 27th. Wells Fargo & Company upped their target price on shares of Envista from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday. Morgan Stanley upped their target price on shares of Envista from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Friday. Finally, Piper Sandler upped their target price on shares of Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Envista presently has an average rating of "Hold" and an average target price of $20.92.

Envista Trading Up 9.7%

NYSE:NVST traded up $1.84 during trading hours on Friday, reaching $20.73. The company's stock had a trading volume of 3,305,753 shares, compared to its average volume of 2,608,179. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -3.17, a PEG ratio of 1.26 and a beta of 1.00. The firm has a 50-day simple moving average of $19.33 and a 200-day simple moving average of $18.60. Envista has a 1 year low of $14.22 and a 1 year high of $23.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.82 and a current ratio of 2.12.

Envista (NYSE:NVST - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Envista had a negative net margin of 44.90% and a positive return on equity of 4.07%. The firm had revenue of $682.10 million for the quarter, compared to analysts' expectations of $638.21 million. During the same quarter in the previous year, the company earned $0.11 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. Research analysts expect that Envista will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NVST. Alliancebernstein L.P. grew its position in Envista by 1,985.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company's stock worth $78,547,000 after purchasing an additional 4,332,541 shares during the last quarter. Brickwood Asset Management LLP acquired a new position in shares of Envista in the 4th quarter valued at $40,037,000. Norges Bank purchased a new stake in Envista in the 4th quarter worth $38,052,000. Dimensional Fund Advisors LP grew its holdings in shares of Envista by 24.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company's stock worth $144,760,000 after buying an additional 1,625,206 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Envista by 160.7% during the first quarter. Pzena Investment Management LLC now owns 2,294,257 shares of the company's stock worth $39,599,000 after buying an additional 1,414,080 shares in 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.

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