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

Envista (NYSE:NVST) had its price objective raised by investment analysts at Morgan Stanley from $19.00 to $20.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 5.95% from the stock’s previous close.

A number of other analysts have also recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Thursday. Piper Sandler increased their price target on shares of Envista from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. Leerink Partners upgraded shares of Envista from an “underperform” rating to a “market perform” rating and increased their price target for the company from $16.00 to $23.00 in a research note on Thursday, October 31st. Mizuho initiated coverage on shares of Envista in a research note on Wednesday, December 4th. They issued an “underperform” rating and a $20.00 price target for the company. Finally, Leerink Partnrs upgraded shares of Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Envista has an average rating of “Hold” and a consensus price target of $20.21.

Envista Stock Performance

Shares of NVST opened at $21.27 on Thursday. Envista has a 12 month low of $15.15 and a 12 month high of $23.06. The firm has a fifty day simple moving average of $19.96 and a 200 day simple moving average of $19.12. The stock has a market capitalization of $3.66 billion, a price-to-earnings ratio of -2.74, a PEG 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.

Envista (NYSE:NVST) last announced its 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%. Research analysts forecast that Envista will post 0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Envista

A number of hedge funds have recently bought and sold shares of NVST. Iron Triangle Partners LP bought a new position in Envista during the third quarter worth about $43,262,000. Point72 Asset Management L.P. bought a new position in Envista during the third quarter worth about $37,559,000. Polar Asset Management Partners Inc. increased its position in 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 during the period. Pzena Investment Management LLC bought a new position in Envista during the fourth quarter worth about $16,979,000. Finally, Franklin Resources Inc. increased its position in 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 during the period.

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.