Envista (NYSE:NVST) Sets New 52-Week Low on Disappointing Earnings

Envista Holdings Co. (NYSE:NVST) hit a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $18.09 and last traded at $19.99, with a volume of 486140 shares changing hands. The stock had previously closed at $19.75.

The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Envista had a negative net margin of 4.70% and a positive return on equity of 5.80%. The firm had revenue of $623.60 million during the quarter, compared to the consensus estimate of $634.85 million. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue was down .6% compared to the same quarter last year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TheStreet downgraded Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Needham & Company LLC reissued a “hold” rating on shares of Envista in a report on Thursday. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $33.00 to $21.00 in a report on Friday, April 26th. Leerink Partnrs reissued an “underperform” rating on shares of Envista in a research note on Monday, February 26th. Finally, William Blair cut shares of Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Three research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $25.86.

Institutional Investors Weigh In On Envista

Institutional investors have recently made changes to their positions in the stock. Headinvest LLC acquired a new position in shares of Envista in the third quarter worth approximately $28,000. Fifth Third Bancorp lifted its position in shares of Envista by 98.1% in the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of Envista in the 3rd quarter worth approximately $47,000. Signaturefd LLC boosted its stake in shares of Envista by 1,297.9% in the 4th quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after purchasing an additional 2,427 shares during the last quarter. Finally, Covestor Ltd increased its position in shares of Envista by 33.9% during the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after buying an additional 624 shares during the period.

Envista Price Performance

The firm has a market cap of $3.27 billion, a P/E ratio of -26.62, a P/E/G ratio of 3.73 and a beta of 1.35. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $20.74 and its two-hundred day moving average is $22.57.

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.