UBS Group Raises Envista (NYSE:NVST) Price Target to $22.00

Envista (NYSE:NVST) had its price objective hoisted by equities researchers at UBS Group from $18.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 9.89% from the stock’s previous close.

Several other analysts have also weighed in on the stock. Bank of America decreased their target price on shares of Envista from $26.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Evercore ISI lifted their target price on shares of Envista from $19.00 to $23.00 and gave the company an “outperform” rating in a research report on Wednesday, July 9th. Morgan Stanley set a $16.00 price target on shares of Envista in a report on Tuesday, April 15th. Piper Sandler cut their price target on shares of Envista from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Finally, Baird R W raised shares of Envista from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $20.54.

Envista Price Performance

Shares of Envista stock opened at $20.02 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.82 and a current ratio of 2.12. The firm’s 50-day simple moving average is $19.29 and its 200-day simple moving average is $18.60. Envista has a twelve month low of $14.22 and a twelve month high of $23.00. The firm has a market cap of $3.39 billion, a P/E ratio of -3.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.00.

Envista (NYSE:NVST) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. Envista had a negative net margin of 44.90% and a positive return on equity of 4.07%. The business had revenue of $616.90 million for the quarter, compared to analyst estimates of $608.17 million. During the same period in the previous year, the business earned $0.26 EPS. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, research analysts expect that Envista will post 1 EPS for the current fiscal year.

Hedge Funds Weigh In On Envista

A number of institutional investors have recently modified their holdings of NVST. Alliancebernstein L.P. raised its stake in shares of Envista by 1,985.1% in the first quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company’s stock worth $78,547,000 after acquiring an additional 4,332,541 shares during the last quarter. Franklin Resources Inc. boosted its stake in Envista by 72.6% in the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company’s stock valued at $132,223,000 after acquiring an additional 2,882,844 shares during the last quarter. Brickwood Asset Management LLP bought a new position in Envista in the fourth quarter valued at approximately $40,037,000. Norges Bank bought a new position in Envista in the fourth quarter valued at approximately $38,052,000. Finally, Dimensional Fund Advisors LP boosted its stake in Envista by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company’s stock valued at $144,760,000 after acquiring an additional 1,625,206 shares during the last quarter.

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.