Envista (NYSE:NVST) Raised to Strong-Buy at Wall Street Zen

Envista (NYSE:NVST) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday.

A number of other brokerages have also issued reports on NVST. Evercore ISI reiterated an “outperform” rating on shares of Envista in a report on Friday, October 31st. Mizuho set a $24.00 price objective on shares of Envista and gave the stock a “neutral” rating in a research note on Tuesday, January 20th. Barclays initiated coverage on shares of Envista in a research note on Monday, December 8th. They issued an “overweight” rating and a $24.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on Envista from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Envista in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $22.17.

Envista Trading Down 2.3%

Shares of NVST opened at $23.86 on Monday. The company has a 50 day simple moving average of $21.95 and a two-hundred day simple moving average of $20.94. Envista has a 1 year low of $14.22 and a 1 year high of $25.41. The firm has a market cap of $3.92 billion, a P/E ratio of 265.10, a price-to-earnings-growth ratio of 1.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.37 and a quick ratio of 2.02.

Envista (NYSE:NVST) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.05. Envista had a return on equity of 5.90% and a net margin of 0.58%.The business had revenue of $669.90 million for the quarter, compared to the consensus estimate of $639.49 million. During the same quarter in the previous year, the company posted $0.12 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. On average, equities analysts expect that Envista will post 1 earnings per share for the current fiscal year.

Institutional Trading of Envista

A number of hedge funds and other institutional investors have recently made changes to their positions in NVST. Royal Bank of Canada increased its position in shares of Envista by 26.6% in the first quarter. Royal Bank of Canada now owns 23,240 shares of the company’s stock worth $401,000 after acquiring an additional 4,885 shares in the last quarter. Millennium Management LLC lifted its position in Envista by 218.6% in the 1st quarter. Millennium Management LLC now owns 383,966 shares of the company’s stock valued at $6,627,000 after purchasing an additional 263,442 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Envista by 39.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 629,140 shares of the company’s stock valued at $10,859,000 after acquiring an additional 177,630 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Envista by 15.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 568,982 shares of the company’s stock valued at $9,821,000 after acquiring an additional 76,246 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Envista by 39.5% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 66,018 shares of the company’s stock valued at $1,346,000 after acquiring an additional 18,699 shares in the last quarter.

About Envista

Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company’s offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.

Envista’s product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.