Jefferies Financial Group Downgrades Envista (NYSE:NVST) to Hold

Envista (NYSE:NVSTGet Free Report) was downgraded by analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research note issued on Friday, Briefing.com reports. They presently have a $23.00 price target on the stock, down from their prior price target of $30.00. Jefferies Financial Group’s price target would indicate a potential upside of 2.54% from the stock’s previous close.

A number of other research firms have also recently issued reports on NVST. JPMorgan Chase & Co. reduced their target price on shares of Envista from $42.00 to $32.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. William Blair cut shares of Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday. Stifel Nicolaus reduced their target price on shares of Envista from $45.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, November 1st. Needham & Company LLC initiated coverage on shares of Envista in a research note on Thursday, November 16th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group cut shares of Envista from a “buy” rating to a “sell” rating and set a $22.00 target price for the company. in a research note on Monday, December 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $32.00.

Check Out Our Latest Report on Envista

Envista Stock Performance

Envista stock opened at $22.43 on Friday. The firm’s 50 day simple moving average is $23.95 and its 200-day simple moving average is $26.66. The company has a market cap of $3.84 billion, a P/E ratio of -36.77, a price-to-earnings-growth ratio of 3.45 and a beta of 1.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.20 and a quick ratio of 1.82. Envista has a fifty-two week low of $20.00 and a fifty-two week high of $41.81.

Envista (NYSE:NVSTGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $638.37 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, equities research analysts predict that Envista will post 1.64 EPS for the current year.

Insider Buying and Selling at Envista

In other Envista news, SVP Eric Conley purchased 2,185 shares of the stock in a transaction on Thursday, November 16th. The shares were purchased at an average price of $22.89 per share, with a total value of $50,014.65. Following 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 document filed with the SEC, which is available at this link. Insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVST. Vanguard Group Inc. raised its position in shares of Envista by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,223,171 shares of the company’s stock valued at $452,302,000 after acquiring an additional 62,463 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Envista by 14.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,047,276 shares of the company’s stock valued at $204,640,000 after acquiring an additional 768,687 shares during the period. Ariel Investments LLC raised its position in shares of Envista by 4.3% in the 3rd quarter. Ariel Investments LLC now owns 5,335,578 shares of the company’s stock valued at $148,756,000 after acquiring an additional 218,461 shares during the period. Franklin Resources Inc. increased its stake in Envista by 44.7% during the 2nd quarter. Franklin Resources Inc. now owns 5,192,285 shares of the company’s stock worth $175,707,000 after purchasing an additional 1,603,147 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Envista by 50.5% during the 4th quarter. Alliancebernstein L.P. now owns 4,209,467 shares of the company’s stock worth $141,733,000 after purchasing an additional 1,412,915 shares in the last quarter.

About Envista

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Envista (NYSE:NVST)

Receive News & Ratings for Envista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envista and related companies with MarketBeat.com's FREE daily email newsletter.