Envista (NYSE:NVST) Announces Quarterly Earnings Results

Envista (NYSE:NVST) issued its earnings results on Wednesday. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05), Briefing.com reports. The firm had revenue of $623.60 million during the quarter, compared to the consensus estimate of $634.85 million. Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS.

Envista Stock Performance

NYSE NVST traded up $0.06 during trading hours on Thursday, hitting $19.81. 4,654,068 shares of the company’s stock traded hands, compared to its average volume of 2,317,987. Envista has a 52 week low of $18.09 and a 52 week high of $38.42. The firm has a market capitalization of $3.40 billion, a P/E ratio of -32.66, a P/E/G ratio of 3.72 and a beta of 1.35. The company has a current ratio of 2.23, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33. The business’s fifty day moving average price is $20.80 and its two-hundred day moving average price is $22.59.

Wall Street Analyst Weigh In

NVST has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Envista in a report on Thursday. Morgan Stanley cut Envista from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $33.00 to $21.00 in a research note on Friday, April 26th. TheStreet cut Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. SVB Leerink assumed coverage on Envista in a research report on Monday, February 26th. They issued an “underperform” rating and a $19.00 target price for the company. Finally, Jefferies Financial Group downgraded shares of Envista from a “buy” rating to a “hold” rating and dropped their price target for the company from $30.00 to $23.00 in a report on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.27.

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.