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

Envista (NYSE:NVST) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $29.00 to $23.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 20.99% from the company’s current price.

Several other brokerages have also recently commented on NVST. William Blair cut shares of Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $33.00 to $21.00 in a report on Friday, April 26th. UBS Group assumed coverage on Envista in a research note on Friday, January 5th. They set a “neutral” rating and a $26.00 price objective for the company. Leerink Partnrs reissued an “underperform” rating on shares of Envista in a report on Monday, February 26th. Finally, Jefferies Financial Group lowered Envista from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $23.00 in a report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.86.

Envista Price Performance

Shares of NVST opened at $19.01 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.23 and a quick ratio of 1.90. The company’s fifty day moving average price is $20.74 and its 200-day moving average price is $22.57. Envista has a 1-year low of $18.09 and a 1-year high of $36.74. The firm has a market capitalization of $3.27 billion, a PE ratio of -26.62, a price-to-earnings-growth ratio of 3.73 and a beta of 1.35.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Envista had a positive return on equity of 5.80% and a negative net margin of 4.70%. The firm had revenue of $623.60 million for the quarter, compared to analyst estimates of $634.85 million. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that Envista will post 1.41 EPS for the current year.

Hedge Funds Weigh In On Envista

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP lifted its stake in Envista by 74.7% in the 1st quarter. GSA Capital Partners LLP now owns 27,548 shares of the company’s stock valued at $589,000 after buying an additional 11,782 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Envista in the first quarter valued at approximately $479,000. Mutual of America Capital Management LLC boosted its stake 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 increased its position in shares of Envista by 11.1% during the first quarter. FORA Capital LLC now owns 52,198 shares of the company’s stock worth $1,116,000 after purchasing an additional 5,205 shares in the last quarter. Finally, Capstone Investment Advisors LLC raised its stake in Envista by 51.3% in the 1st quarter. Capstone Investment Advisors LLC now owns 64,779 shares of the company’s stock valued at $1,385,000 after purchasing an additional 21,950 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.