Dental products company Envista Holdings (NYSE: NVST) will be announcing earnings results this Wednesday after market hours. Here’s what to look for.
Envista beat analysts’ revenue expectations last quarter, reporting revenues of $705.5 million, up 14.4% year on year. It was a strong quarter for the company, with 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 5% year on year, slowing from the 7.7% 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 rarely misses Wall Street’s revenue estimates.
Looking at Envista’s peers in the healthcare equipment and supplies segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Align Technology delivered year-on-year revenue growth of 4.3%, meeting analysts’ expectations, and Baxter reported revenues up 5.3%, topping estimates by 6%. Align Technology traded down 3.7% following the results while Baxter was up 5.6%.
Read our full analysis of Align Technology’s results here and Baxter’s results here.
Investors in the healthcare equipment and supplies segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Envista’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $29.43 (compared to the current share price of $27.37).
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