Envista (NYSE:NVST) Price Target Lowered to $17.50 at The Goldman Sachs Group

Envista (NYSE:NVST) had its price objective reduced by analysts at The Goldman Sachs Group from $20.00 to $17.50 in a report released on Friday, Benzinga reports. The brokerage currently has a “sell” rating on the stock. The Goldman Sachs Group’s price target indicates a potential downside of 7.94% from the stock’s current price.

Several other equities analysts have also recently issued reports on NVST. TheStreet cut Envista from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. SVB Leerink assumed coverage on Envista in a report on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Jefferies Financial Group cut Envista from a “buy” rating to a “hold” rating and cut their target price for the stock from $30.00 to $23.00 in a research report on Friday, February 9th. Finally, JPMorgan Chase & Co. cut their target price on Envista from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.86.

Envista Price Performance

NVST traded down $0.80 during trading on Friday, reaching $19.01. 2,239,656 shares of the company were exchanged, compared to its average volume of 2,327,958. The company’s 50-day moving average is $20.74 and its two-hundred day moving average is $22.57. The company has a market cap of $3.27 billion, a price-to-earnings ratio of -26.62, a P/E/G ratio of 3.73 and a beta of 1.35. 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 12-month low of $18.09 and a 12-month high of $36.74.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The company had revenue of $623.60 million for the quarter, compared to analysts’ expectations of $634.85 million. Envista had a positive return on equity of 5.80% and a negative net margin of 4.70%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the company posted $0.38 EPS. Research analysts forecast that Envista will post 1.41 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envista

Institutional investors and hedge funds have recently modified their holdings of the business. Headinvest LLC purchased a new stake in Envista during the 3rd quarter worth approximately $28,000. Fifth Third Bancorp lifted its stake in Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in Envista during the third quarter worth $47,000. Signaturefd LLC lifted its stake in Envista by 1,297.9% during the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock worth $63,000 after purchasing an additional 2,427 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Envista by 33.9% during the third quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after purchasing an additional 624 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.