Envista (NYSE:NVST) Hits New 1-Year Low on Disappointing Earnings

Envista Holdings Co. (NYSE:NVST) shares hit a new 52-week low on Thursday following a dissappointing earnings announcement. The stock traded as low as $18.09 and last traded at $19.99, with a volume of 486140 shares changing hands. The stock had previously closed at $19.75.

The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.05). Envista had a positive return on equity of 5.80% and a negative net margin of 4.70%. The company had revenue of $623.60 million during the quarter, compared to analysts’ expectations of $634.85 million. During the same quarter last year, the firm posted $0.38 earnings per share. The firm’s revenue was down .6% on a year-over-year basis.

Wall Street Analysts Forecast Growth

NVST has been the topic of a number of research reports. UBS Group initiated coverage on Envista in a report on Friday, January 5th. They set a “neutral” rating and a $26.00 price objective on the stock. TheStreet lowered shares of Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $33.00 to $21.00 in a report on Friday, April 26th. Jefferies Financial Group cut shares of Envista from a “buy” rating to a “hold” rating and decreased 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 price target on shares of Envista from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.86.

Hedge Funds Weigh In On Envista

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nuance Investments LLC increased its holdings in Envista by 953.8% during the 4th quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock valued at $94,581,000 after purchasing an additional 3,558,031 shares during the period. River Road Asset Management LLC bought a new stake in shares of Envista in the 4th quarter worth approximately $54,931,000. Franklin Resources Inc. increased its stake in shares of Envista by 65.3% during the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after buying an additional 2,077,786 shares during the period. Norges Bank bought a new position in shares of Envista during the fourth quarter valued at approximately $42,874,000. Finally, Vanguard Group Inc. raised its holdings in shares of Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock valued at $413,056,000 after acquiring an additional 944,596 shares in the last quarter.

Envista Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.23 and a quick ratio of 1.90. The business has a 50 day moving average of $20.74 and a 200 day moving average of $22.57. The company has a market cap of $3.27 billion, a PE ratio of -26.62, a price-to-earnings-growth ratio of 3.73 and a beta of 1.35.

Envista Company Profile

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.