Envista (NYSE:NVST) Share Price Breaks Above 200 Day Moving Average – Here’s What Happened

Envista Holdings Corporation (NYSE:NVST)’s share price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $25.75 and traded as high as $26.44. Envista shares last traded at $25.9830, with a volume of 3,424,316 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVST. Morgan Stanley set a $23.00 price objective on Envista in a report on Thursday, August 6th. Leerink Partners dropped their target price on shares of Envista from $35.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, October 14th. Weiss Ratings reiterated a “hold (c)” rating on shares of Envista in a report on Tuesday, November 3rd. Zacks Research downgraded shares of Envista from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, UBS Group boosted their price target on shares of Envista from $27.00 to $29.00 and gave the company a “neutral” rating in a report on Thursday, November 5th. Six equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $29.00.

Envista Price Performance

The stock has a fifty day moving average price of $24.33 and a 200-day moving average price of $25.75. The firm has a market capitalization of $4.07 billion, a PE ratio of 16.67, a P/E/G ratio of 1.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.10 and a current ratio of 2.45.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, November 4th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.36 by $0.04. Envista had a return on equity of 8.26% and a net margin of 22.01%. The firm had revenue of $691.50 million during the quarter, compared to analyst estimates of $688.74 million. During the same period in the previous year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Sell-side analysts forecast that Envista Holdings Corporation will post 1.56 EPS for the current fiscal year.

Insider Buying and Selling

In other Envista news, SVP Mischa Reis sold 8,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $27.50, for a total value of $220,000.00. Following the completion of the transaction, the senior vice president directly owned 27,321 shares in the company, valued at approximately $751,327.50. The trade was a 22.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LP boosted its stake in Envista by 35.8% in the second quarter. Corient Private Wealth LP now owns 703,864 shares of the company’s stock valued at $18,547,000 after acquiring an additional 185,687 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of Envista by 247.9% during the second quarter. WINTON GROUP Ltd now owns 192,055 shares of the company’s stock worth $5,061,000 after purchasing an additional 136,855 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Envista during the second quarter worth $5,987,000. GSA Capital Partners LLP purchased a new stake in shares of Envista during the 2nd quarter valued at $2,039,000. Finally, Squarepoint Ops LLC purchased a new stake in shares of Envista during the 2nd quarter valued at $1,464,000.

Envista Company Profile

Envista Holdings Corporation is a dental products and technology company that develops and supplies tools and services for dental professionals. Its offerings span implant dentistry, orthodontics, digital imaging, restorative care and other clinical applications. The company’s products include dental implants and related treatment systems, orthodontic brackets and clear aligners, imaging equipment and software, and restorative and endodontic materials. Its brands include Nobel Biocare, Ormco, DEXIS, Kerr and KaVo.