Envista (NYSE:NVST) Downgraded by Morgan Stanley to “Equal Weight”

Morgan Stanley cut shares of Envista (NYSE:NVST) from an overweight rating to an equal weight rating in a report published on Friday morning, Marketbeat Ratings reports. The firm currently has $21.00 price target on the stock, down from their previous price target of $33.00.

Other analysts have also issued reports about the stock. Jefferies Financial Group lowered shares of Envista from a buy rating to a hold rating and dropped their price target for the stock from $30.00 to $23.00 in a research report on Friday, February 9th. SVB Leerink started coverage on shares of Envista in a research report on Monday, February 26th. They issued an underperform rating and a $19.00 price objective on the stock. TheStreet lowered shares of Envista from a c rating to a d+ rating in a research report on Wednesday, February 7th. UBS Group initiated coverage on shares of Envista in a research report on Friday, January 5th. They set a neutral rating and a $26.00 price target on the stock. Finally, William Blair lowered shares of Envista from an outperform rating to a market perform rating in a research report on Thursday, February 8th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Envista presently has an average rating of Hold and a consensus target price of $27.90.

Envista Stock Performance

Shares of NVST opened at $20.62 on Friday. Envista has a 12 month low of $18.95 and a 12 month high of $38.63. The firm has a fifty day simple moving average of $20.92 and a 200 day simple moving average of $22.65. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -33.80, a PEG ratio of 3.81 and a beta of 1.35. The company has a current ratio of 2.23, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33.

Envista (NYSE:NVST) last announced its earnings results 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 positive return on equity of 6.31% and a negative net margin of 3.90%. The business had revenue of $645.60 million for the quarter, compared to analyst estimates of $638.37 million. During the same quarter in the previous year, the company posted $0.52 EPS. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Research analysts forecast that Envista will post 1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Envista

A number of large investors have recently bought and sold shares of the company. Headinvest LLC acquired a new stake in shares of Envista in the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp raised its holdings in Envista by 98.1% in the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after buying an additional 621 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Envista in the 3rd quarter valued at approximately $47,000. Signaturefd LLC raised its holdings in Envista by 1,297.9% in the 4th quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after buying an additional 2,427 shares during the last quarter. Finally, Covestor Ltd raised its holdings in Envista by 33.9% in the 3rd quarter. Covestor Ltd now owns 2,462 shares of the company’s stock valued at $69,000 after buying an additional 624 shares during the last quarter.

Envista Company Profile

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.