Dental products company Envista Holdings (NYSE:NVST) will be announcing earnings results this Wednesday after market hours. Here’s what you need to know.
Envista beat analysts’ revenue expectations last quarter, reporting revenues of $730.5 million, up 7.1% year on year. It was an exceptional quarter for the company, with a solid beat of analysts’ full-year EPS guidance estimates and a beat of analysts’ EPS estimates.
Is Envista a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Envista’s revenue to grow 2.7% year on year, slowing from the 11.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Envista has a history of exceeding Wall Street’s expectations.
Looking at Envista’s peers in the healthcare equipment and supplies segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Align Technology delivered year-on-year revenue growth of 1.9%, beating analysts’ expectations by 1.1%, and Intuitive Surgical reported revenues up 21.7%, topping estimates by 5.3%. Align Technology’s stock price was unchanged after the resultswhile Intuitive Surgical was down 2.3%.
Read our full analysis of Align Technology’s results here and Intuitive Surgical’s results here.
There has been positive sentiment among investors in the healthcare equipment and supplies segment, with share prices up 2.4% on average over the last month. Envista is up 5.9% during the same time and is heading into earnings with an average analyst price target of $28.69 (compared to the current share price of $24.71).
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