Envista (NYSE:NVST) Issues Quarterly Earnings Results

Envista (NYSE:NVST – Get Rating) posted its quarterly earnings data on Wednesday. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.03, MarketWatch Earnings reports. The firm had revenue of $631.40 million during the quarter, compared to analysts’ expectations of $629.30 million. Envista had a net margin of 13.06% and a return on equity of 8.58%. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.54 EPS.

Envista stock traded up $1.13 during midday trading on Friday, hitting $44.86. 3,017,027 shares of the stock were exchanged, compared to its average volume of 1,623,586. The company has a fifty day simple moving average of $46.08 and a two-hundred day simple moving average of $44.15. Envista has a 52 week low of $37.60 and a 52 week high of $52.03. The stock has a market capitalization of $7.29 billion, a PE ratio of 23.24, a P/E/G ratio of 1.59 and a beta of 1.64. The company has a quick ratio of 1.30, a current ratio of 1.52 and a debt-to-equity ratio of 0.22.

In other Envista news, CEO Amir Aghdaei sold 114,702 shares of the firm’s stock in a transaction that occurred on Thursday, March 17th. The shares were sold at an average price of $49.01, for a total transaction of $5,621,545.02. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mischa Reis sold 5,009 shares of the firm’s stock in a transaction that occurred on Friday, February 25th. The stock was sold at an average price of $47.59, for a total transaction of $238,378.31. The disclosure for this sale can be found here. Insiders have sold a total of 160,829 shares of company stock worth $7,852,658 in the last three months. 0.82% of the stock is owned by insiders.

Hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. raised its holdings in shares of Envista by 92.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 551,863 shares of the company’s stock valued at $24,867,000 after purchasing an additional 264,997 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in shares of Envista by 6.9% in the fourth quarter. Parametric Portfolio Associates LLC now owns 506,126 shares of the company’s stock valued at $22,806,000 after purchasing an additional 32,750 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Envista by 1.0% in the fourth quarter. Legal & General Group Plc now owns 281,318 shares of the company’s stock valued at $12,676,000 after purchasing an additional 2,769 shares during the last quarter. Comerica Bank raised its holdings in shares of Envista by 0.4% in the fourth quarter. Comerica Bank now owns 165,208 shares of the company’s stock valued at $6,983,000 after purchasing an additional 618 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its holdings in shares of Envista by 4.0% in the fourth quarter. Vident Investment Advisory LLC now owns 51,724 shares of the company’s stock valued at $2,329,000 after purchasing an additional 1,993 shares during the last quarter.

Several brokerages have recently issued reports on NVST. Piper Sandler reduced their target price on shares of Envista from $50.00 to $49.00 in a research note on Thursday. Morgan Stanley raised their target price on shares of Envista from $52.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, April 4th. Zacks Investment Research lowered shares of Envista from a “buy” rating to a “hold” rating in a research note on Thursday, February 24th. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Envista in a research note on Tuesday, April 5th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $51.00.

Envista Company Profile (Get Rating)

Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.

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