Zacks Investment Research Downgrades Envista (NASDAQ:NVST) to Sell

Envista (NASDAQ:NVST) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “Envista Holdings Corporation manufactures and sells dental products primarily in the United States and internationally. The company’s Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, prefabricated and custom-built prosthetics and dental eye loupes to oral surgeons, prosthodontists and periodontists; Equipment & Consumables segment develops, manufactures and markets dental equipment and supplies used in dental offices, including digital imaging systems, software and other visualization/magnification systems; handpieces and associated consumables; treatment units and other dental practice equipment; endodontic systems and related consumables; restorative materials and instruments, rotary burs, impression materials, bonding agents and cements and infection prevention products. Envista Holdings Corporation is based in Brea, California. “

Separately, Evercore ISI started coverage on shares of Envista in a research report on Tuesday, December 17th. They set an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Envista currently has an average rating of “Buy” and a consensus price target of $32.56.

Shares of NVST stock traded down $0.44 during mid-day trading on Tuesday, reaching $26.06. 3,664,833 shares of the company were exchanged, compared to its average volume of 3,573,347. Envista has a fifty-two week low of $25.65 and a fifty-two week high of $33.30. The company has a 50 day moving average price of $30.33.

Envista (NASDAQ:NVST) last released its quarterly earnings results on Thursday, January 30th. The company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The company had revenue of $720.50 million for the quarter, compared to analyst estimates of $729.38 million. During the same period in the previous year, the business posted $0.59 EPS. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year.

A number of hedge funds have recently bought and sold shares of NVST. Oppenheimer Asset Management Inc. bought a new stake in Envista in the third quarter valued at $218,000. Eos Focused Equity Management L.P. acquired a new position in shares of Envista during the third quarter valued at $1,723,000. SG Americas Securities LLC acquired a new position in shares of Envista during the third quarter valued at $173,000. Tower Research Capital LLC TRC acquired a new position in shares of Envista during the third quarter valued at $46,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in shares of Envista during the third quarter valued at $55,215,000.

About Envista

Envista Holdings Corporation manufactures and sells dental products in the United States and internationally. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, prefabricated and custom-built prosthetics, and dental eye loupes to oral surgeons, prosthodontists, and periodontists under the brands, including Nobel Biocare, Alpha Bio Tec, Implant Direct, Nobel Procera, and Orascoptic; and brackets and wires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Ormco, Insignia, AOA, and Spark brands.

Featured Article: Learning About the VIX – Volatility Index

Get a free copy of the Zacks research report on Envista (NVST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Envista (NASDAQ:NVST)

Receive News & Ratings for Envista Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Envista and related companies with MarketBeat.com's FREE daily email newsletter.