Morgan Stanley Forecasts Strong Price Appreciation for Envista (NYSE:NVST) Stock

Envista (NYSE:NVST) had its price target upped by equities researchers at Morgan Stanley from $19.00 to $20.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 5.95% from the stock’s current price.

Several other brokerages have also recently commented on NVST. Leerink Partners upgraded shares of Envista from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $16.00 to $23.00 in a research report on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research report on Thursday. Jefferies Financial Group boosted their price objective on shares of Envista from $20.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Finally, Piper Sandler boosted their price objective on shares of Envista from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.21.

Envista Trading Down 2.4 %

Shares of NYSE NVST opened at $21.27 on Thursday. Envista has a 1-year low of $15.15 and a 1-year high of $23.06. The company has a market cap of $3.66 billion, a PE ratio of -2.74, a P/E/G ratio of 1.82 and a beta of 1.34. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $19.96 and a two-hundred day moving average of $19.12.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. As a group, equities analysts expect that Envista will post 0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Envista

Several large investors have recently made changes to their positions in NVST. Iron Triangle Partners LP bought a new stake in shares of Envista during the third quarter worth $43,262,000. Point72 Asset Management L.P. bought a new stake in shares of Envista during the third quarter worth $37,559,000. Polar Asset Management Partners Inc. increased its position in shares of Envista by 375.6% during the third quarter. Polar Asset Management Partners Inc. now owns 1,497,250 shares of the company’s stock worth $29,586,000 after acquiring an additional 1,182,450 shares in the last quarter. Pzena Investment Management LLC bought a new stake in shares of Envista during the fourth quarter worth $16,979,000. Finally, Franklin Resources Inc. increased its position in shares of Envista by 26.5% during the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company’s stock worth $78,480,000 after acquiring an additional 830,861 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.