How does Envista Holdings Corporation (NVST) change from a tortoise to a hare?

Envista Holdings Corporation (NYSE: NVST) stock jumped 3.21% on Friday to $40.85 against a previous-day closing price of $39.58. With 4.82 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.76 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $41.69 whereas the lowest price it dropped to was $39.35. The 52-week range on NVST shows that it touched its highest point at $52.03 and its lowest point at $35.24 during that stretch. It currently has a 1-year price target of $48.75.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NVST was up-trending over the past week, with a rise of 0.62%, but this was up by 6.80% over a month. Three-month performance dropped to -1.78% while six-month performance fell -6.78%. The stock gained 0.76% in the past year, while it has lost -9.34% so far this year. A look at the trailing 12-month EPS for NVST yields 1.52 with Next year EPS estimates of 2.24. For the next quarter, that number is 0.46. This implies an EPS growth rate of 472.90% for this year and 11.91% for next year. EPS is expected to grow by 41.43% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -3.30%.

Float and Shares Shorts:

At present, 162.20 million NVST shares are outstanding with a float of 161.38 million shares on hand for trading. On Jul 14, 2022, short shares totaled 14.83 million, which was 9.12% higher than short shares on Jun 14, 2022. In addition to Mr. Amir Aghdaei as the firm’s Pres, CEO & Director, Mr. Howard H. Yu serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 114.38% of NVST’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 76.37% of NVST, in contrast to 42.71% held by mutual funds. Shares owned by individuals account for 0.56%. As the largest shareholder in NVST with 13.23% of the stake, Fidelity Management & Research Co holds 21,505,962 shares worth 21,505,962. A second-largest stockholder of NVST, The Vanguard Group, Inc., holds 14,898,626 shares, controlling over 9.16% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NVST, holding 13,398,363 shares or 8.24% stake. With a 4.98% stake in NVST, the Eaton Vance Atlanta Capital SMID is the largest stakeholder. A total of 8,101,021 shares are owned by the mutual fund manager. The MFS Mid Cap Growth Fund, which owns about 3.28% of NVST stock, is the second-largest Mutual Fund holder. It holds 5,334,481 shares valued at 205.59 million. Vanguard Total Stock Market Index holds 2.95% of the stake in NVST, owning 4,801,754 shares worth 185.06 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NVST since 10 analysts follow the stock currently. There are 8 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With NVST analysts setting a high price target of $54.00 and a low target of $40.00, the average target price over the next 12 months is $47.89. Based on these targets, NVST could surge 32.19% to reach the target high and fall by -2.08% to reach the target low. Reaching the average price target will result in a growth of 17.23% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. NVST will report FY 2022 earnings on 02/08/2023. Analysts have provided yearly estimates in a range of $2.03 being high and $1.95 being low. For NVST, this leads to a yearly average estimate of $1.99. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Envista Holdings Corporation surprised analysts by $0.02 when it reported $0.48 EPS against a consensus estimate of $0.46. The surprise factor in the prior quarter was $0.03. Based on analyst estimates, the high estimate for the next quarter is $0.51 and the low estimate is $0.46. The average estimate for the next quarter is thus $0.49.

Summary of Insider Activity:

Insiders traded NVST stock several times over the past three months with 7 Buys and 3 Sells. In these transactions, 32,540 shares were bought while 14,020 shares were sold. The number of buy transactions has increased to 36 while that of sell transactions has risen to 65 over the past year. The total number of shares bought during that period was 423,527 while 546,702 shares were sold.

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