Needham & Company LLC Reiterates “Hold” Rating for Envista (NYSE:NVST)

Envista (NYSE:NVST)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a report issued on Thursday, Benzinga reports.

Several other equities research analysts also recently commented on NVST. William Blair downgraded Envista from an “outperform” rating to a “market perform” rating in a report on Thursday, February 8th. Jefferies Financial Group downgraded Envista from a “buy” rating to a “hold” rating and cut their price objective for the company from $30.00 to $23.00 in a report on Friday, February 9th. TheStreet downgraded Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group began coverage on Envista in a report on Friday, January 5th. They issued a “neutral” rating and a $26.00 price objective for the company. Finally, Morgan Stanley downgraded Envista from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $33.00 to $21.00 in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $27.09.

Envista Price Performance

Shares of NVST opened at $19.75 on Thursday. The stock has a market capitalization of $3.39 billion, a P/E ratio of -32.38, a P/E/G ratio of 3.72 and a beta of 1.35. Envista has a twelve month low of $18.95 and a twelve month high of $38.43. The company has a 50 day moving average of $20.80 and a 200-day moving average of $22.59. 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) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). The business had revenue of $645.60 million for the quarter, compared to the consensus estimate of $638.37 million. Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. Envista’s revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. As a group, equities research analysts forecast that Envista will post 1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On Envista

A number of hedge funds and other institutional investors have recently modified their holdings of NVST. Nuance Investments LLC increased its position in shares of Envista by 953.8% in the fourth quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock worth $94,581,000 after purchasing an additional 3,558,031 shares during the period. River Road Asset Management LLC bought a new position in shares of Envista in the fourth quarter worth $54,931,000. Franklin Resources Inc. increased its position in shares of Envista by 65.3% in the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock worth $126,606,000 after purchasing an additional 2,077,786 shares during the period. Norges Bank bought a new position in shares of Envista in the fourth quarter worth $42,874,000. Finally, Vanguard Group Inc. increased its position in shares of Envista by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after purchasing an additional 944,596 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.