Envista (NYSE:NVST) Shares Gap Down to $20.02

Envista Holdings Co. (NYSE:NVST) gapped down before the market opened on Friday . The stock had previously closed at $20.02, but opened at $19.48. Envista shares last traded at $20.22, with a volume of 152,859 shares trading hands.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVST. TheStreet lowered shares of Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $33.00 to $21.00 in a research report on Friday. UBS Group began coverage on shares of 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 reaffirmed an “underperform” rating on shares of Envista in a research note on Monday, February 26th. Finally, William Blair downgraded shares of Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.90.

Envista Trading Up 1.8 %

The company has a market capitalization of $3.50 billion, a P/E ratio of -33.43, a P/E/G ratio of 3.74 and a beta of 1.35. The stock’s 50 day moving average is $20.95 and its 200-day moving average is $22.69. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.23 and a quick ratio of 1.90.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $645.60 million during the quarter, compared to the consensus estimate of $638.37 million. During the same period in the previous year, the company earned $0.52 earnings per share. Envista’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, equities research analysts anticipate that Envista Holdings Co. will post 1.43 earnings per share for the current year.

Hedge Funds Weigh In On Envista

A number of institutional investors have recently bought and sold shares of the stock. Corbyn Investment Management Inc. MD raised its stake in Envista by 0.6% in the fourth quarter. Corbyn Investment Management Inc. MD now owns 73,899 shares of the company’s stock worth $1,778,000 after buying an additional 462 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its stake in shares of Envista by 6.3% during the third quarter. Alliance Wealth Advisors LLC UT now owns 8,295 shares of the company’s stock valued at $231,000 after purchasing an additional 490 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Envista by 0.6% during the fourth quarter. Wedge Capital Management L L P NC now owns 102,309 shares of the company’s stock valued at $2,462,000 after purchasing an additional 569 shares in the last quarter. Securian Asset Management Inc. increased its stake in shares of Envista by 4.3% during the fourth quarter. Securian Asset Management Inc. now owns 14,465 shares of the company’s stock valued at $348,000 after purchasing an additional 590 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after purchasing an additional 621 shares in 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.