Envista (NYSE:NVST) Issues Earnings Results, Beats Estimates By $0.03 EPS

Envista (NYSE:NVST) issued its quarterly earnings results on Wednesday. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.09 by $0.03, Briefing.com reports. The firm had revenue of $601.00 million for the quarter, compared to analysts’ expectations of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.59%. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.43 EPS.

Envista Price Performance

Shares of Envista stock traded down $0.03 during trading on Friday, reaching $20.94. 2,955,564 shares of the company’s stock were exchanged, compared to its average volume of 2,436,171. The firm’s 50-day moving average price is $18.64 and its 200 day moving average price is $18.08. The company has a market cap of $3.60 billion, a P/E ratio of -2.69 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. Envista has a 1-year low of $15.15 and a 1-year high of $25.64.

Wall Street Analysts Forecast Growth

NVST has been the topic of several analyst reports. Leerink Partners upgraded Envista from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $16.00 to $23.00 in a report on Thursday. Piper Sandler increased their price objective on shares of Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday. Leerink Partnrs raised shares of Envista from a “strong sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company assumed coverage on shares of Envista in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price target on the stock. Finally, Evercore ISI boosted their price target on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Envista currently has a consensus rating of “Hold” and a consensus target price of $20.71.

Insider Buying and Selling at Envista

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of the firm’s stock in a transaction on Monday, August 12th. The stock was purchased at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the transaction, the chief financial officer now owns 24,532 shares in the company, valued at $400,607.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.

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.