Research Analysts Issue Forecasts for Envista Holdings Co.’s Q2 2024 Earnings (NYSE:NVST)

Envista Holdings Co. (NYSE:NVST) – Analysts at William Blair dropped their Q2 2024 earnings per share (EPS) estimates for Envista in a research note issued to investors on Wednesday, May 1st. William Blair analyst B. Vazquez now forecasts that the company will post earnings per share of $0.32 for the quarter, down from their prior estimate of $0.34. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Envista’s current full-year earnings is $1.41 per share. William Blair also issued estimates for Envista’s FY2024 earnings at $1.35 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.34 EPS, Q3 2025 earnings at $0.37 EPS, Q4 2025 earnings at $0.42 EPS and FY2025 earnings at $1.46 EPS.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $634.85 million. During the same period in the prior year, the firm posted $0.38 earnings per share. The company’s revenue was down .6% on a year-over-year basis.

Several other equities research analysts have also recently commented on NVST. Robert W. Baird lowered their target price on Envista from $22.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday. SVB Leerink initiated coverage on Envista in a research report on Monday, February 26th. They issued an “underperform” rating and a $19.00 price objective for the company. Jefferies Financial Group downgraded shares of Envista from a “buy” rating to a “hold” rating and cut their target price for the company from $30.00 to $23.00 in a research report on Friday, February 9th. JPMorgan Chase & Co. lowered 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. Finally, Leerink Partnrs restated an “underperform” rating on shares of Envista in a report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Envista presently has an average rating of “Hold” and an average target price of $25.86.

Envista Stock Performance

Shares of Envista stock opened at $19.01 on Friday. The firm has a 50 day simple moving average of $20.74 and a 200 day simple moving average of $22.57. Envista has a fifty-two week low of $18.09 and a fifty-two week high of $36.74. 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 firm has a market cap of $3.27 billion, a P/E ratio of -26.62, a P/E/G ratio of 3.73 and a beta of 1.35.

Institutional Trading of Envista

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Envista by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after acquiring an additional 944,596 shares in the last quarter. Ariel Investments LLC grew its position in shares of Envista by 4.3% in the 3rd quarter. Ariel Investments LLC now owns 5,335,578 shares of the company’s stock valued at $148,756,000 after purchasing an additional 218,461 shares during the period. Franklin Resources Inc. increased its stake in Envista by 65.3% during the 4th quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock worth $126,606,000 after purchasing an additional 2,077,786 shares in the last quarter. Nuance Investments LLC raised 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 worth $94,581,000 after buying an additional 3,558,031 shares during the period. Finally, River Road Asset Management LLC acquired a new stake in Envista during the 4th quarter worth approximately $54,931,000.

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.