Envista (NYSE:NVST) Given New $17.00 Price Target at Piper Sandler

Envista (NYSE:NVST) had its target price boosted by equities researchers at Piper Sandler from $16.00 to $17.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Piper Sandler’s price target would suggest a potential downside of 19.70% from the company’s previous close.

A number of other brokerages have also recently weighed in on NVST. Leerink Partners raised shares of Envista from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $16.00 to $23.00 in a research report on Thursday. Bank of America cut their price objective on shares of Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Wells Fargo & Company started coverage on shares of Envista in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Robert W. Baird boosted their price objective on shares of Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price objective on shares of Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.71.

Envista Trading Up 10.1 %

NVST stock traded up $1.94 during midday trading on Thursday, hitting $21.17. The stock had a trading volume of 4,244,845 shares, compared to its average volume of 2,423,825. The firm has a market cap of $3.64 billion, a PE ratio of -2.76 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.22 and a quick ratio of 1.90. Envista has a 12-month low of $15.15 and a 12-month high of $25.64. The company’s 50-day moving average price is $18.54 and its 200 day moving average price is $18.04.

Envista (NYSE:NVST) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The company had revenue of $601.00 million during the quarter, compared to analysts’ expectations of $590.34 million. During the same period in the previous year, the company earned $0.43 EPS. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. On average, equities research analysts predict that Envista will post 0.69 earnings per share for the current fiscal year.

Insider Activity at Envista

In other news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average price of $16.33 per share, for a total transaction of $400,607.56. Following the transaction, the chief financial officer now owns 24,532 shares in the company, valued at $400,607.56. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Envista

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NVST. Jupiter Asset Management Ltd. acquired a new position in shares of Envista during the 2nd quarter worth $69,534,000. Pacer Advisors Inc. increased its stake in shares of Envista by 11,202.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock worth $48,018,000 after purchasing an additional 2,861,880 shares during the last quarter. Swedbank AB acquired a new position in shares of Envista during the 1st quarter worth $53,412,000. Nuance Investments LLC increased its stake in shares of Envista by 47.2% during the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock worth $117,048,000 after purchasing an additional 2,256,993 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in shares of Envista by 25.3% during the 1st quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock worth $190,115,000 after purchasing an additional 1,795,258 shares during the last quarter.

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.