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

Envista (NYSE:NVST) released its quarterly earnings data 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 company had revenue of $601.00 million during the quarter, compared to the consensus estimate of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.59%. Envista’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS.

Envista Trading Up 0.3 %

Shares of NVST traded up $0.06 during trading hours on Friday, reaching $21.03. 588,069 shares of the company traded hands, compared to its average volume of 2,425,004. Envista has a 12 month low of $15.15 and a 12 month high of $25.64. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $18.60 and its two-hundred day moving average price is $18.06. The company has a market capitalization of $3.62 billion, a price-to-earnings ratio of -2.70 and a beta of 1.32.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company began coverage on shares of Envista in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price objective for the company. Leerink Partners raised shares of Envista from an “underperform” rating to a “market perform” rating and raised their price target for the company from $16.00 to $23.00 in a report on Thursday. Leerink Partnrs raised shares of Envista from a “strong sell” rating to a “hold” rating in a report on Thursday. Evercore ISI raised their price objective on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Finally, Piper Sandler raised 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. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Envista has an average rating of “Hold” and an average price target of $20.71.

Insiders Place Their Bets

In related news, CFO Eric D. Hammes acquired 24,532 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was purchased at an average cost of $16.33 per share, with a total value of $400,607.56. Following the completion of the acquisition, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.30% of the company’s stock.

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.