Dental Firm Envista Q3 Performance Disappoints, Uncertainty, Macro Headwinds To In Short Term
Portfolio Pulse from Vandana Singh
Envista Holdings Corporation (NVST) reported Q3 sales of $631.3 million, missing the consensus of $648.636 million. Adjusted EPS was $0.43, lower than the $0.47 a year ago and below the consensus of $0.46. The company expects FY23 core sales to be down slightly due to uncertainties in the macro environment and volatility in the North American distribution channel. Piper Sandler downgraded the stock to Neutral from Overweight with a price target of $25. NVST shares are down 9.22% at $20.92.
November 02, 2023 | 6:18 pm
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Envista's Q3 results missed expectations and the company expects FY23 core sales to be down. Piper Sandler downgraded the stock, leading to a drop in share price.
Envista's disappointing Q3 results and negative outlook for FY23 have led to a downgrade by Piper Sandler. This has negatively impacted investor sentiment, leading to a drop in the company's share price.
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