Envista (NYSE:NVST) Stock Rating Lowered by Morgan Stanley

Envista (NYSE:NVST) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Friday, MarketBeat.com reports. They currently have a $21.00 price objective on the stock, down from their prior price objective of $33.00. Morgan Stanley’s target price indicates a potential upside of 4.90% from the company’s previous close.

A number of other brokerages also recently commented on NVST. William Blair downgraded shares of Envista from an “outperform” rating to a “market perform” rating in a report on Thursday, February 8th. UBS Group assumed coverage on Envista in a research note on Friday, January 5th. They issued a “neutral” rating and a $26.00 price objective for the company. TheStreet downgraded Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. SVB Leerink began coverage on Envista in a report on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Finally, Jefferies Financial Group lowered shares of Envista from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $30.00 to $23.00 in a research note on Friday, February 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Envista presently has a consensus rating of “Hold” and an average price target of $27.90.

Envista Stock Performance

NYSE NVST opened at $20.02 on Friday. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33. Envista has a twelve month low of $18.95 and a twelve month high of $38.68. The business has a 50-day moving average price of $21.00 and a 200-day moving average price of $22.76. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of -32.82, a price-to-earnings-growth ratio of 3.79 and a beta of 1.35.

Envista (NYSE:NVST) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.04). Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. The business had revenue of $645.60 million during the quarter, compared to the consensus estimate of $638.37 million. During the same quarter in the previous year, the company earned $0.52 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts predict that Envista will post 1.43 EPS for the current fiscal year.

Institutional Trading of Envista

Hedge funds have recently added to or reduced their stakes in the business. Corbyn Investment Management Inc. MD raised its holdings in shares of Envista by 0.6% in the 4th quarter. Corbyn Investment Management Inc. MD now owns 73,899 shares of the company’s stock valued at $1,778,000 after purchasing an additional 462 shares in the last quarter. Alliance Wealth Advisors LLC UT increased its holdings in shares of Envista by 6.3% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 8,295 shares of the company’s stock valued at $231,000 after acquiring an additional 490 shares during the period. Wedge Capital Management L L P NC raised its position in shares of Envista by 0.6% in the 4th quarter. Wedge Capital Management L L P NC now owns 102,309 shares of the company’s stock worth $2,462,000 after acquiring an additional 569 shares in the last quarter. Securian Asset Management Inc. lifted its stake in shares of Envista by 4.3% during the 4th quarter. Securian Asset Management Inc. now owns 14,465 shares of the company’s stock worth $348,000 after purchasing an additional 590 shares during the last quarter. Finally, Fifth Third Bancorp boosted its position in Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after purchasing an additional 621 shares in 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.