Envista Holdings Corp [NYSE: NVST] stock went on a downward path that fall over -1.14% on Wednesday, amounting to a one-week price increase of more than 3.15%. The company report on February 7, 2024 at 4:10 PM that Envista Reports Fourth Quarter and Full Year 2023 Earnings.
Envista Holdings Corporation (NYSE: NVST) today announced results for the fourth quarter and full year 2023.
For the quarter ended December 31, 2023, reported sales were $645.6 million. Core sales in the quarter declined 2.0% over the corresponding quarter in 2022. Net loss in the fourth quarter was $217.4 million or $1.27 per diluted share. The net loss included a $258.3 million non-cash charge related to the impairment of goodwill and intangible assets. During the same period, adjusted net income was $49.7 million or $0.29 per diluted share compared to adjusted net income of $91.9 million or $0.52 per diluted share in the same period of 2022. Adjusted EBITDA for the fourth quarter of 2023 was $100.5 million compared to $138.3 million in the fourth quarter of 2022.
Over the last 12 months, NVST stock dropped by -40.62%. The one-year Envista Holdings Corp stock forecast points to a potential upside of 14.04. The average equity rating for NVST stock is currently 2.00, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $4.15 billion, with 171.40 million shares outstanding and 170.63 million shares in the current float. Compared to the average trading volume of 2.38M shares, NVST stock reached a trading volume of 3627774 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Envista Holdings Corp [NVST]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVST shares is $28.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVST stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Envista Holdings Corp shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 05, 2024.
The Average True Range (ATR) for Envista Holdings Corp is set at 0.75, with the Price to Sales ratio for NVST stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 4.81. Price to Free Cash Flow for NVST in the course of the last twelve months was 19.14 with Quick ratio for the last quarter at 1.82.
NVST Stock Performance Analysis:
Envista Holdings Corp [NVST] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.15. With this latest performance, NVST shares gained by 0.87% in over the last four-week period, additionally sinking by -29.58% over the last 6 months – not to mention a drop of -40.62% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVST stock in for the last two-week period is set at 52.28, with the RSI for the last a single of trading hit 53.58, and the three-weeks RSI is set at 51.37 for Envista Holdings Corp [NVST]. The present Moving Average for the last 50 days of trading for this stock 23.91, while it was recorded at 24.00 for the last single week of trading, and 29.10 for the last 200 days.
Insight into Envista Holdings Corp Fundamentals:
Envista Holdings Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.82 and a Current Ratio set at 2.20.
NVST Stock EPS
With the latest financial reports released by the company, Envista Holdings Corp posted 0.52/share EPS, while the average EPS was predicted by analysts to be reported at 0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 6.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVST. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Envista Holdings Corp go to -0.60%.
Envista Holdings Corp [NVST] Institutonal Ownership Details
The top three institutional holders of NVST stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NVST stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NVST stock with ownership which is approximately 5.8325%.
