Jefferies Financial Group lowered shares of Envista (NYSE:NVST – Free Report) from a buy rating to a hold rating in a report released on Friday morning, Briefing.com reports. Jefferies Financial Group currently has $23.00 target price on the stock, down from their previous target price of $30.00.
A number of other equities analysts have also recently issued reports on the stock. UBS Group assumed coverage on shares of Envista in a research report on Friday, January 5th. They set a neutral rating and a $26.00 target price for the company. Piper Sandler lowered shares of Envista from an overweight rating to a neutral rating and cut their price objective for the company from $39.00 to $25.00 in a research report on Thursday, November 2nd. The Goldman Sachs Group lowered shares of Envista from a buy rating to a sell rating and set a $22.00 price objective for the company. in a research report on Monday, December 11th. TheStreet lowered shares of Envista from a c rating to a d+ rating in a research report on Wednesday. Finally, William Blair downgraded shares of Envista from an outperform rating to a market perform rating in a report on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Envista has an average rating of Hold and an average target price of $32.00.
Envista Stock Down 7.5 %
Envista (NYSE:NVST – Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Envista had a negative net margin of 3.90% and a positive return on equity of 6.27%. The company had revenue of $645.60 million during the quarter, compared to analyst estimates of $638.37 million. During the same quarter last year, the business earned $0.52 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Envista will post 1.64 EPS for the current fiscal year.
Insider Transactions at Envista
In related news, SVP Eric Conley purchased 2,185 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were purchased at an average cost of $22.89 per share, with a total value of $50,014.65. Following the completion of the acquisition, the senior vice president now directly owns 47,376 shares of the company’s stock, valued at approximately $1,084,436.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
Institutional Trading of Envista
A number of institutional investors and hedge funds have recently modified their holdings of NVST. Nuance Investments LLC raised its holdings in shares of Envista by 953.8% during 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 during the fourth quarter worth about $54,931,000. Franklin Resources Inc. grew its position in shares of Envista by 44.7% during the second quarter. Franklin Resources Inc. now owns 5,192,285 shares of the company’s stock worth $175,707,000 after acquiring an additional 1,603,147 shares during the last quarter. Alliancebernstein L.P. grew its position in shares of Envista by 50.5% during the fourth quarter. Alliancebernstein L.P. now owns 4,209,467 shares of the company’s stock worth $141,733,000 after acquiring an additional 1,412,915 shares during the last quarter. Finally, Norges Bank bought a new position in Envista in the 4th quarter valued at about $32,880,000.
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 brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products.
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