Morgan Stanley Lowers Envista (NYSE:NVST) Price Target to $49.00

Envista (NYSE:NVSTGet Rating) had its target price dropped by Morgan Stanley from $53.00 to $49.00 in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 19.31% from the company’s previous close.

NVST has been the topic of several other research reports. Stifel Nicolaus dropped their target price on Envista from $55.00 to $50.00 in a report on Friday, June 17th. TheStreet cut Envista from a “b” rating to a “c+” rating in a report on Friday, June 17th. The Goldman Sachs Group dropped their price target on Envista from $58.00 to $45.00 and set a “buy” rating on the stock in a report on Thursday, July 21st. Robert W. Baird cut Envista from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $54.00 to $46.00 in a report on Tuesday, June 14th. Finally, Piper Sandler dropped their price target on Envista from $43.00 to $40.00 and set a “neutral” rating on the stock in a report on Thursday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $46.33.

Envista Price Performance

Shares of NYSE:NVST opened at $41.07 on Thursday. Envista has a 12 month low of $35.24 and a 12 month high of $52.03. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.52 and a beta of 1.53. The stock’s 50 day moving average price is $39.45 and its 200 day moving average price is $43.18. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.52 and a quick ratio of 1.30.

Envista (NYSE:NVSTGet Rating) last announced its earnings results on Wednesday, May 4th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.44 by $0.03. Envista had a return on equity of 8.26% and a net margin of 11.86%. The firm had revenue of $631.40 million for the quarter, compared to analysts’ expectations of $629.30 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. Equities research analysts anticipate that Envista will post 2.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envista

Several institutional investors and hedge funds have recently added to or reduced their stakes in NVST. Allspring Global Investments Holdings LLC purchased a new position in Envista during the 4th quarter worth approximately $8,771,000. Illinois Municipal Retirement Fund grew its position in Envista by 34.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 23,023 shares of the company’s stock worth $1,037,000 after purchasing an additional 5,870 shares in the last quarter. Yousif Capital Management LLC purchased a new position in Envista during the 4th quarter worth approximately $3,919,000. CWM LLC purchased a new position in Envista during the 4th quarter worth approximately $84,000. Finally, Integral Health Asset Management LLC grew its position in Envista by 30.4% during the 4th quarter. Integral Health Asset Management LLC now owns 300,000 shares of the company’s stock worth $13,518,000 after purchasing an additional 70,000 shares in the last quarter.

Envista Company Profile

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Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.

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