Envista (NYSE:NVST) Issues Earnings Results

Envista (NYSE:NVST) posted its quarterly earnings data on Wednesday. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03, Briefing.com reports. Envista had a negative net margin of 53.42% and a positive return on equity of 3.59%. 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 prior year, the company posted $0.43 EPS. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis.

Envista Price Performance

NVST traded down $0.03 during midday trading on Friday, hitting $20.94. The company had a trading volume of 2,955,564 shares, compared to its average volume of 2,436,171. Envista has a twelve month low of $15.15 and a twelve month high of $25.64. The firm’s 50-day simple moving average is $18.64 and its 200-day simple moving average is $18.08. The company has a market capitalization of $3.60 billion, a PE ratio of -2.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22.

Insider Buying and Selling at Envista

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Robert W. Baird lifted 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. Stifel Nicolaus lifted their target price on Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Leerink Partners upgraded shares of Envista from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $16.00 to $23.00 in a report on Thursday. Bank of America reduced their target price on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Wells Fargo & Company started coverage on Envista in a research note on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.71.

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.