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

Envista (NYSE:NVST) had its price objective reduced by JPMorgan Chase & Co. from $29.00 to $23.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently issued reports on NVST. Robert W. Baird dropped their target price on shares of Envista from $22.00 to $19.00 and set a neutral rating for the company in a report on Thursday. Needham & Company LLC reaffirmed a hold rating on shares of Envista in a research note on Thursday. Leerink Partnrs reiterated an underperform rating on shares of Envista in a research report on Monday, February 26th. UBS Group assumed coverage on Envista in a research report on Friday, January 5th. They issued a neutral rating and a $26.00 price target for the company. Finally, Jefferies Financial Group downgraded Envista from a buy rating to a hold rating and cut their price target for the stock from $30.00 to $23.00 in a research note on Friday, February 9th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $25.86.

Envista Price Performance

Shares of NYSE:NVST opened at $19.00 on Thursday. Envista has a 52 week low of $18.09 and a 52 week high of $36.74. The company has a 50-day moving average price of $20.66 and a 200 day moving average price of $22.53. The company has a market cap of $3.27 billion, a P/E ratio of -26.39, a PEG ratio of 3.68 and a beta of 1.35. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 0.34.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, May 1st. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.05). The company 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 5.84% and a negative net margin of 4.70%. Envista’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Research analysts predict that Envista will post 1.26 earnings per share for the current year.

Hedge Funds Weigh In On Envista

A number of institutional investors have recently made changes to their positions in the stock. GSA Capital Partners LLP raised its holdings in shares of Envista by 74.7% in the first quarter. GSA Capital Partners LLP now owns 27,548 shares of the company’s stock worth $589,000 after acquiring an additional 11,782 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Envista in the first quarter worth $479,000. Mutual of America Capital Management LLC raised its holdings in shares of Envista by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 196,022 shares of the company’s stock worth $4,191,000 after acquiring an additional 1,967 shares during the last quarter. FORA Capital LLC raised its holdings in shares of Envista by 11.1% in the first quarter. FORA Capital LLC now owns 52,198 shares of the company’s stock worth $1,116,000 after acquiring an additional 5,205 shares during the last quarter. Finally, Capstone Investment Advisors LLC raised its holdings in shares of Envista by 51.3% in the first quarter. Capstone Investment Advisors LLC now owns 64,779 shares of the company’s stock worth $1,385,000 after acquiring an additional 21,950 shares during the last quarter.

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.