Morgan Stanley Downgrades Envista (NYSE:NVST) to Equal Weight

Envista (NYSE:NVST) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $21.00 target price on the stock, down from their prior target price of $33.00. Morgan Stanley’s price target suggests a potential upside of 2.99% from the stock’s previous close.

NVST has been the subject of several other reports. SVB Leerink assumed coverage on Envista in a report on Monday, February 26th. They set an “underperform” rating and a $19.00 target price for the company. William Blair cut Envista from an “outperform” rating to a “market perform” rating in a report on Thursday, February 8th. Jefferies Financial Group cut Envista from a “buy” rating to a “hold” rating and dropped their target price for the company from $30.00 to $23.00 in a report on Friday, February 9th. UBS Group assumed coverage on Envista in a research report on Friday, January 5th. They set a “neutral” rating and a $26.00 price target for the company. Finally, Leerink Partnrs reaffirmed an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Envista has an average rating of “Hold” and a consensus price target of $27.90.

Envista Price Performance

NVST opened at $20.39 on Friday. The stock has a 50-day moving average price of $20.95 and a 200-day moving average price of $22.69. Envista has a 12-month low of $18.95 and a 12-month high of $38.68. The company has a current ratio of 2.23, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33.

Envista (NYSE:NVST) last issued its 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). The company had revenue of $645.60 million for the quarter, compared to analysts’ expectations of $638.37 million. Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. The company’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.52 earnings per share. As a group, equities analysts expect that Envista will post 1.43 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Headinvest LLC bought a new position in Envista during the 3rd quarter valued at approximately $28,000. Fifth Third Bancorp increased its position in Envista by 98.1% during the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after buying an additional 621 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in Envista during the 3rd quarter valued at approximately $47,000. Covestor Ltd increased its position in Envista by 33.9% during the 3rd quarter. Covestor Ltd now owns 2,462 shares of the company’s stock valued at $69,000 after buying an additional 624 shares in the last quarter. Finally, Signaturefd LLC increased its position in Envista by 1,297.9% during the 4th quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after buying an additional 2,427 shares in 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.