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

Envista (NYSE:NVST) had its target price trimmed by JPMorgan Chase & Co. from $29.00 to $23.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research firms also recently issued reports on NVST. Jefferies Financial Group lowered shares of Envista from a buy rating to a hold rating and lowered their price objective for the company from $30.00 to $23.00 in a research report on Friday, February 9th. Leerink Partnrs restated an underperform rating on shares of Envista in a report on Monday, February 26th. Needham & Company LLC reiterated a hold rating on shares of Envista in a research note on Thursday. William Blair lowered shares of Envista from an outperform rating to a market perform rating in a research note on Thursday, February 8th. Finally, TheStreet downgraded shares of Envista from a c rating to a d+ rating in a research note on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus price target of $25.86.

Envista Stock Down 4.1 %

Shares of NVST stock opened at $19.00 on Thursday. The stock has a market cap of $3.27 billion, a P/E ratio of -26.39, a PEG ratio of 3.68 and a beta of 1.35. The company’s fifty day simple moving average is $20.66 and its two-hundred day simple moving average is $22.50. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. Envista has a 52 week low of $18.09 and a 52 week high of $36.74.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.26 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 5.84%. The firm had revenue of $623.60 million for the quarter, compared to the consensus estimate of $634.85 million. During the same period in the previous year, the company posted $0.38 earnings per share. Envista’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Envista will post 1.26 EPS for the current fiscal year.

Hedge Funds Weigh In On Envista

A number of hedge funds and other institutional investors have recently modified their holdings of NVST. Headinvest LLC purchased a new stake in Envista during the third quarter worth $28,000. Fifth Third Bancorp lifted its stake in shares of Envista by 98.1% during 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 last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of Envista during the 3rd quarter worth $47,000. Signaturefd LLC boosted its position in Envista by 1,297.9% during the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Covestor Ltd grew its stake in Envista by 33.9% in the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock valued at $69,000 after purchasing an additional 624 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.