Envista (NYSE:NVST) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Key Points

• Wells Fargo & Company has raised its price target on Envista (NYSE: NVST) from $17.00 to $19.00, while maintaining an "equal weight" rating on the stock.
• Envista's shares have seen a significant increase, trading up 6.7% to $20.16 following the announcement, with a market capitalization of $3.42 billion.
• Analysts have differing opinions, with the consensus rating on the stock categorized as "Hold" and an average price target of $20.77 among various equity research firms.

Envista (NYSE:NVST - Free Report) had its price target lifted by Wells Fargo & Company from $17.00 to $19.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also commented on the stock. Piper Sandler raised their price objective on shares of Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Friday. Baird R W raised Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Bank of America cut their target price on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $21.00 to $23.00 in a research report on Tuesday, May 27th. Finally, Evercore ISI lifted their price target on shares of Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. 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 given a strong buy rating to the stock. According to MarketBeat, Envista presently has a consensus rating of "Hold" and a consensus target price of $20.92.

Envista Trading Down 2.0%

Shares of Envista stock traded down $0.42 during trading on Friday, reaching $20.06. 2,073,269 shares of the company were exchanged, compared to its average volume of 2,627,642. Envista has a twelve month low of $14.22 and a twelve month high of $23.00. The business has a 50-day moving average price of $19.49 and a 200-day moving average price 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 capitalization 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 (NYSE:NVST - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.26 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 for the quarter, compared to the consensus estimate of $638.21 million. During the same quarter last year, the business posted $0.11 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Envista will post 1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank bought a new stake in Envista in the fourth quarter valued at approximately $38,052,000. Pictet Asset Management Holding SA boosted its stake in shares of Envista by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,338 shares of the company's stock valued at $469,000 after purchasing an additional 4,121 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Envista by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock worth $5,566,000 after buying an additional 1,272 shares during the period. Trexquant Investment LP bought a new position in Envista during the fourth quarter worth $5,982,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Envista by 9.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,271,175 shares of the company's stock valued at $63,101,000 after buying an additional 283,415 shares during the period.

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.