In a report released on May 1, Michael Cherny from Leerink Partners reiterated a Hold rating on Envista Holdings (NVST – Research Report), with a price target of $18.50.
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Michael Cherny has given his Hold rating due to a combination of factors including Envista Holdings’ recent quarterly results, which were generally solid but faced low expectations. The company showed steady growth in its Equipment & Consumables segment, which helped offset declines in the Specialty Products & Technologies segment. However, the overall dental demand environment remains uncertain, with consumer confidence being a concern, which could hinder growth expectations.
Despite some positive aspects, such as better-than-expected margin performance and optimistic tariff commentary, challenges persist in certain geographies and product lines. The declines in diagnostics in North America and China, as well as global declines in challenger implants, highlight these ongoing issues. Given these dynamics and the uncertain visibility for growth acceleration, Cherny maintains a Market Perform rating, reflecting a cautious outlook.
NVST’s price has also changed moderately for the past six months – from $20.940 to $16.340, which is a -21.97% drop .