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

Envista (NYSE:NVST) had its target price dropped by equities researchers at JPMorgan Chase & Co. from $29.00 to $23.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 20.99% from the company’s previous close.

A number of other research analysts have also issued reports on the stock. SVB Leerink began coverage on shares of Envista in a research note on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Robert W. Baird decreased their price target on Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Envista in a report on Thursday. Finally, Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $33.00 to $21.00 in a research report on Friday, April 26th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.86.

Envista Stock Down 4.0 %

Envista stock opened at $19.01 on Thursday. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of -26.62, a PEG ratio of 3.73 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. The stock has a 50 day moving average of $20.74 and a two-hundred day moving average of $22.57. Envista has a twelve month low of $18.09 and a twelve month high of $36.74.

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

Hedge Funds Weigh In On Envista

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Nuance Investments LLC raised its position in shares of Envista by 953.8% during the 4th quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock worth $94,581,000 after purchasing an additional 3,558,031 shares during the last quarter. River Road Asset Management LLC acquired a new position in shares of Envista in the fourth quarter worth $54,931,000. Franklin Resources Inc. lifted its position in shares of Envista by 65.3% in the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after acquiring an additional 2,077,786 shares in the last quarter. Norges Bank acquired a new stake in shares of Envista during the fourth quarter valued at $42,874,000. Finally, Vanguard Group Inc. increased its position in Envista by 5.8% during the 4th quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after purchasing an additional 944,596 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.