Morgan Stanley Downgrades Envista (NYSE:NVST) to Equal Weight

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

NVST has been the topic of several other research reports. UBS Group began coverage on Envista in a research note on Friday, January 5th. They issued a neutral rating and a $26.00 price target on the stock. Jefferies Financial Group lowered Envista from a buy rating to a hold rating and decreased their price target for the company from $30.00 to $23.00 in a research note on Friday, February 9th. William Blair lowered Envista from an outperform rating to a market perform rating in a research note on Thursday, February 8th. SVB Leerink assumed coverage on Envista in a research report on Monday, February 26th. They issued an underperform rating and a $19.00 price objective for the company. Finally, Leerink Partnrs reiterated an underperform rating on shares of Envista in a research report on Monday, February 26th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $27.90.

Envista Trading Up 1.8 %

Shares of NYSE:NVST opened at $20.39 on Friday. Envista has a 1-year low of $18.95 and a 1-year high of $38.68. The business’s 50 day moving average is $20.95 and its 200-day moving average is $22.67. 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 announced its quarterly 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). The company had revenue of $645.60 million during the quarter, compared to analyst estimates of $638.37 million. Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. Envista’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.52 EPS. As a group, sell-side analysts expect that Envista will post 1.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Envista

Institutional investors and hedge funds have recently made changes to their positions in the company. Foundry Partners LLC bought a new stake in shares of Envista during the fourth quarter worth $3,571,000. Raymond James & Associates grew its stake in shares of Envista by 820.6% during the fourth quarter. Raymond James & Associates now owns 408,218 shares of the company’s stock worth $9,822,000 after purchasing an additional 363,875 shares during the period. River Road Asset Management LLC acquired a new stake in shares of Envista during the fourth quarter worth $54,931,000. DAVENPORT & Co LLC acquired a new stake in shares of Envista during the fourth quarter worth $13,233,000. Finally, Blueshift Asset Management LLC grew its stake in shares of Envista by 168.7% during the third quarter. Blueshift Asset Management LLC now owns 41,524 shares of the company’s stock worth $1,158,000 after purchasing an additional 26,073 shares during the period.

About Envista

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.