Envista (NYSE:NVST) Upgraded at Leerink Partners

Envista (NYSE:NVST) was upgraded by analysts at Leerink Partners from an “underperform” rating to a “market perform” rating in a report issued on Thursday, FinViz reports. The brokerage currently has a $23.00 price objective on the stock, up from their prior price objective of $16.00. Leerink Partners’ price target would indicate a potential upside of 19.79% from the stock’s previous close.

A number of other research firms have also recently issued reports on NVST. Wells Fargo & Company started coverage on Envista in a report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price objective for the company. Bank of America dropped their price objective on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a report on Thursday, August 8th. Evercore ISI upped their target price on Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $20.21.

Envista Price Performance

Shares of Envista stock opened at $19.20 on Thursday. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -2.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. The stock has a 50 day moving average price of $18.54 and a 200-day moving average price of $18.04. Envista has a one year low of $15.15 and a one year high of $25.64.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The business had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $646.88 million. During the same quarter in the previous year, the firm earned $0.43 EPS. Envista’s revenue was down 4.4% compared to the same quarter last year. Equities analysts expect that Envista will post 0.69 EPS for the current year.

Insider Activity at Envista

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $16.33 per share, for a total transaction of $400,607.56. Following the completion of the purchase, the chief financial officer now owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Envista

A number of large investors have recently made changes to their positions in NVST. Tweedy Browne Co LLC acquired a new position in shares of Envista in the first quarter valued at about $21,053,000. SG Americas Securities LLC increased its holdings in Envista by 3,271.2% in the 1st quarter. SG Americas Securities LLC now owns 144,522 shares of the company’s stock worth $3,090,000 after buying an additional 140,235 shares during the period. M&G Plc increased its holdings in Envista by 12.5% in the 2nd quarter. M&G Plc now owns 306,253 shares of the company’s stock worth $5,206,000 after buying an additional 33,923 shares during the period. Duality Advisers LP acquired a new position in Envista in the 1st quarter worth approximately $1,903,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Envista by 287.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 169,648 shares of the company’s stock worth $2,821,000 after buying an additional 125,861 shares during the period.

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.