, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") today announced that the company will participate in the Baird 2026 Global Healthcare Conference. The fireside chat will take place on Tuesday, September 15, 2026, from 9:40 – 10:10 AM ET.
A live audio webcast of the event, along with an archived replay, will be available in the Investors section of the Envista website at https://investors.envistaco.com/.
ABOUT ENVISTA HOLDINGS CORPORATION
Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years. Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System. Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future. Learn more at http://envistaco.com.
FOR FURTHER INFORMATION
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
Telephone: (424) 350-5259
[email protected]
It has been about a month since the last earnings report for Envista (NVST - Free Report) . Shares have added about 0.8% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Envista due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers.
Envista Tops Q2 Earnings and RevenuesEnvista Holdings Corporation reported adjusted earnings per share of 41 cents in the second quarter of 2026, up 57.7% year over year. The bottom line surpassed the Zacks Consensus Estimate by 24.24%.
The adjustments include non-cash charges related to the amortization of acquisition-related and other intangible assets, restructuring costs and asset impairments, fair-value adjustment of acquisition-related inventory and tariff refunds, among others.
The company’s GAAP earnings were 33 cents compared with the year-ago quarter’s earnings of 16 cents per share.
NVST’s Revenues
Revenues totaled $730.5 million in the reported quarter, up 7.1% year over year. The metric topped the Zacks Consensus Estimate by 2.17%.
Segment-wise, Specialty Products & Technologies sales totaled $471 million, up 5.8% year over year. Revenues from Equipment & Consumables rose 9.5% year over year to $259.5 million in the quarter under review.
NVST’s Operational Update
The gross profit in the reported quarter climbed 10% year over year to $407 million. The gross margin expanded 149 basis points (bps) to 55.7% despite cost of sales increasing 3.6%.
Selling, general and administrative expenses were up 0.3% year over year to $296.3 million. Research and development expenses rose 7.4% year over year to $30.4 million. The operating profit of $80.3 million jumped 73.4% year over year. The operating margin expanded 420 bps to 11%.
NVST’s Financial Update
Envista ended the second quarter of 2026 with cash and cash equivalents of $1.13 billion compared with $1.08 billion as of Apr. 3. Long-term debt in the second quarter was $1.44 billion compared with $1.43 billion at the end of first quarter. Cumulative net cash provided by operating activities as of July 3, 2026 was $115.9 million compared with $89 million a year ago.
Envista’s 2026 Guidance
For 2026, the company expects core sales growth between 3.5% and 4.5% (previously, 2%-4%). The Zacks Consensus Estimate projects 2026 sales to be $2.88 billion, representing 6% growth over 2025.
Adjusted EBITDA growth is projected in the range of 11%-14%, previously 7%-13%.
Adjusted diluted earnings per share are projected between $1.50 and $1.55 (earlier, $1.35 to $1.45). The consensus mark for the metric stands at $1.53.
Free cash flow conversion is expected to be approximately 100%.
How Have Estimates Been Moving Since Then?In the past month, investors have witnessed a upward trend in estimates review.
VGM ScoresAt this time, Envista has a subpar Growth Score of D, a score with the same score on the momentum front. However, the stock has a grade of B on the value side, putting it in the second quintile for value investors.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been trending upward for the stock, and the magnitude of these revisions looks promising. It comes with little surprise Envista has a Zacks Rank #1 (Strong Buy). We expect an above average return from the stock in the next few months.
Performance of an Industry PlayerEnvista belongs to the Zacks Medical - Products industry. Another stock from the same industry, Neogen (NEOG - Free Report) , has gained 3% over the past month. More than a month has passed since the company reported results for the quarter ended May 2026.
Neogen reported revenues of $225.3 million in the last reported quarter, representing a year-over-year change of -0.1%. EPS of $0.09 for the same period compares with $0.05 a year ago.
For the current quarter, Neogen is expected to post earnings of $0.05 per share, indicating a change of +25% from the year-ago quarter. The Zacks Consensus Estimate has changed +4.4% over the last 30 days.
Neogen has a Zacks Rank #2 (Buy) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
Canada Pension Plan Investment Board acquired a new position in Envista Holdings Corporation (NYSE:NVST – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 191,353 shares of the company’s stock, valued at approximately $5,042,000. Canada Pension Plan Investment Board owned about 0.12% of Envista at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. GSA Capital Partners LLP bought a new position in Envista in the second quarter valued at $2,039,000. Pzena Investment Management LLC bought a new stake in Envista during the second quarter worth about $30,494,000. Dimensional Fund Advisors LP boosted its holdings in shares of Envista by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 9,780,948 shares of the company’s stock worth $248,130,000 after purchasing an additional 152,488 shares in the last quarter. SummitTX Capital L.P. purchased a new stake in Envista in the first quarter worth approximately $4,268,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Envista by 36.8% in the 1st quarter. Principal Financial Group Inc. now owns 483,983 shares of the company’s stock valued at $12,279,000 after purchasing an additional 130,237 shares in the last quarter.
Wall Street Analysts Forecast Growth A number of brokerages have issued reports on NVST. JPMorgan Chase & Co. raised their price target on shares of Envista from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings raised Envista from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 6th. Zacks Research raised shares of Envista from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Wall Street Zen raised Envista from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 22nd. Finally, Morgan Stanley set a $23.00 target price on shares of Envista in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.31.
Check Out Our Latest Stock Analysis on NVST Envista Stock Performance NYSE NVST opened at $27.15 on Monday. Envista Holdings Corporation has a twelve month low of $18.77 and a twelve month high of $30.42. The business has a 50-day moving average price of $27.12 and a 200-day moving average price of $26.35. The company has a quick ratio of 2.07, a current ratio of 2.43 and a debt-to-equity ratio of 0.47. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 46.81, a price-to-earnings-growth ratio of 1.29 and a beta of 0.86.
Envista (NYSE:NVST – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The firm had revenue of $730.50 million during the quarter, compared to analyst estimates of $716.11 million. Envista had a net margin of 3.33% and a return on equity of 7.88%. Envista’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.26 earnings per share. Envista has set its FY 2026 guidance at 1.500-1.550 EPS. As a group, equities research analysts predict that Envista Holdings Corporation will post 1.53 EPS for the current fiscal year.
Insider Activity at Envista In related news, SVP Mischa Reis sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $27.50, for a total value of $220,000.00. Following the completion of the transaction, the senior vice president directly owned 27,321 shares of the company’s stock, valued at approximately $751,327.50. This trade represents a 22.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.99% of the company’s stock.
About Envista (Free Report)
Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company’s offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.
Envista’s product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.
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Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #2 (Buy) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of A thanks to attractive valuation metrics like a forward P/E ratio of 17.87; value investors should take notice.
For fiscal 2026, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.11 to $1.53 per share. NVST boasts an average earnings surprise of +19.4%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.
Key Takeaways Dollar General pairs a Zacks Rank #2 with a Value Score of A and 8.9% expected growth.Envista has a Zacks Rank #1, Value Score of B and a 13.7% five-year expected growth rate.Match Group has a Zacks Rank #1, a Value Score of A and a 20.7% five-year expected growth rate. As August draws to a close, the stock market is hovering near record levels, even as elevated Treasury yields, persistent inflation concerns and softer economic signals add to uncertainty. At the same time, recent gains have been heavily concentrated in technology and AI stocks, leaving many fundamentally sound companies outside the market’s strongest-performing areas. This divergence is creating an opportunity for investors to look beyond high-momentum names and seek quality businesses whose stocks are trading at more reasonable valuations.
Against this backdrop, value investing can offer an attractive approach. When market uncertainty prompts investors to sell fundamentally sound companies, their shares can become available at discounted valuations. Value investors seek to capitalize on such dislocations by identifying stocks whose market prices do not fully reflect their underlying earnings potential.
Several stocks that have surged significantly in the recent past have shown the overwhelming success of this pure-play investment strategy. Here, we discuss four such stocks — Dollar General (DG - Free Report) , Envista Corporation (NVST - Free Report) , Match Group (MTCH - Free Report) and The Allstate Corp. (ALL - Free Report) .
However, this apparently simple value investment technique has some drawbacks and not understanding the strategy properly may often lead to “value traps.” In such a situation, these value picks start to underperform over the long run as the temporary problems, which once drove the share price down, turn out to be persistent.
There are many value investment yardsticks, such as dividend yield, P/E or P/B, which are simple and can single out whether a stock is trading at a discount.
However, for investors looking to escape such value traps, it is also vital to determine where the stock would be headed in the next 12 to 24 months. Warren Buffett advises these investors to focus on the earnings growth potential of a stock. This is where the importance of a not-so-popular value investing metric, the PEG ratio, lies.
PEG Ratio at a GlanceThe PEG ratio is defined as (Price/ Earnings)/Earnings Growth Rate
A low PEG ratio is always better for value investors.
While P/E alone fails to identify a true value stock, PEG helps find the intrinsic value of a stock.
There are some drawbacks to using the PEG ratio. It doesn’t consider the very common situation of changing growth rates, such as the forecast of the first three years at a very high growth rate, followed by a sustainable but lower growth rate over the long term.
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Here are some of the screening criteria for a winning strategy:
PEG Ratio less than X Industry Median
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Zacks Rank #1 (Strong Buy) or 2 (Buy) (Whether good market conditions or bad, stocks with a Zacks Rank #1 or 2 have a proven history of success.)
Market Capitalization greater than $1 billion (This helps us to focus on companies that have strong liquidity.)
Average 20-Day Volume greater than 50,000 (A substantial trading volume ensures that the stock is easily tradable.)
Percentage Change F1 Earnings Estimate Revisions (4 Weeks) greater than 5% (Upward estimate revisions add to the optimism, suggesting further bullishness.)
Value Score of less than or equal to B: Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 or 3 (Hold) offer the best upside potential.
Our PEG-Driven PicksHere are four stocks that qualified the screening:
Dollar General: Headquartered in Goodlettsville, TN, Dollar General is one of the largest discount retailers in the United States. The company sells low-priced merchandise, typically $10 or less. Dollar General offers a wide selection of merchandise, including consumable items, seasonal items, home products and apparel.
Dollar General has a Zacks Rank #2 and a Value Score of A. DG also has an impressive five-year expected growth rate of 8.9%.
Envista: Headquartered in Brea, CA, Envista provides dental solutions through more than 30 brands, including Nobel Biocare, Ormco, DEXIS and Kerr. Its Specialty Products & Technologies segment, which generated 64.4% of 2025 revenues, offers dental implants, orthodontic products, aligners, prosthetics, treatment software and related technologies.
NVST currently has a Zacks Rank #1 and a Value Score of B. Envista also has an impressive five-year expected growth rate of 13.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Match Group: Based in Dallas, TX, Match Group is a global provider of digital technologies designed to help people make meaningful connections. The company has several promising growth drivers, led by Hinge, where product innovation, international expansion and additional monetization opportunities support long-term potential.
MTCH currently has a Zacks Rank #1 and a Value Score of A. Match Group also has an impressive five-year expected growth rate of 20.7%.
Allstate: Headquartered in Northbrook, IL, Allstate is the third-largest property and casualty (P&C) insurer and largest publicly held personal-lines carrier in the United States, serving approximately 16 million households. In 2025, revenues rose to $67.7 billion, supported by continued growth in P&C premiums and higher net investment income.
Apart from a discounted PEG and P/E, ALL currently has a Zacks Rank #1 and a Value Score of A. Allstate has a long-term expected growth rate of 19%.
Investors might want to bet on Envista (NVST - Free Report) , as it has been recently upgraded to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
Individual investors often find it hard to make decisions based on rating upgrades by Wall Street analysts, since these are mostly driven by subjective factors that are hard to see and measure in real time. In these situations, the Zacks rating system comes in handy because of the power of a changing earnings picture in determining near-term stock price movements.
As such, the Zacks rating upgrade for Envista is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock PricesThe change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. That's partly because of the influence of institutional investors that use earnings and earnings estimates for calculating the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Envista, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate RevisionsAs empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock movements, tracking such revisions for making an investment decision could be truly rewarding. Here is where the tried-and-tested Zacks Rank stock-rating system plays an important role, as it effectively harnesses the power of earnings estimate revisions.
The Zacks Rank stock-rating system, which uses four factors related to earnings estimates to classify stocks into five groups, ranging from Zacks Rank #1 (Strong Buy) to Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record, with Zacks Rank #1 stocks generating an average annual return of +25% since 1988. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here >>>> .
Earnings Estimate Revisions for EnvistaThis maker of dental products is expected to earn $1.53 per share for the fiscal year ending December 2026, which represents no year-over-year change.
Analysts have been steadily raising their estimates for Envista. Over the past three months, the Zacks Consensus Estimate for the company has increased 7.5%.
Bottom LineUnlike the overly optimistic Wall Street analysts whose rating systems tend to be weighted toward favorable recommendations, the Zacks rating system maintains an equal proportion of "buy" and "sell" ratings for its entire universe of more than 4,000 stocks at any point in time. Irrespective of market conditions, only the top 5% of the Zacks-covered stocks get a "Strong Buy" rating and the next 15% get a "Buy" rating. So, the placement of a stock in the top 20% of the Zacks-covered stocks indicates its superior earnings estimate revision feature, making it a solid candidate for producing market-beating returns in the near term.
You can learn more about the Zacks Rank here >>>
The upgrade of Envista to a Zacks Rank #1 positions it in the top 5% of the Zacks-covered stocks in terms of estimate revisions, implying that the stock might move higher in the near term.
Investors interested in Medical - Products stocks are likely familiar with Envista (NVST) and Abbott (ABT). But which of these two stocks presents investors with the better value opportunity right now?
Investors in Envista Holdings Corporation (NVST - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the Sept. 18, 2026 $40.00 Put had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for Envista shares, but what is the fundamental picture for the company? Currently, Envista is a Zacks Rank #1 (Strong Buy) in the Medical - Products industry that ranks in the Top 39% of our Zacks Industry Rank. Over the last 60 days, four analysts have increased their earnings estimates for the current quarter, while none have dropped their estimates. The net effect has taken our Zacks Consensus Estimate for the current quarter from 34 cents per share to 36 cents in that period.
Given the way analysts feel about Envista right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Deutsche Bank AG purchased a new position in Envista Holdings Corporation (NYSE:NVST – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 359,824 shares of the company’s stock, valued at approximately $9,481,000. Deutsche Bank AG owned about 0.22% of Envista at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Envista in the second quarter worth about $2,039,000. Dimensional Fund Advisors LP grew its holdings in shares of Envista by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 9,780,948 shares of the company’s stock valued at $248,130,000 after buying an additional 152,488 shares during the last quarter. SummitTX Capital L.P. purchased a new stake in shares of Envista during the first quarter valued at approximately $4,268,000. Principal Financial Group Inc. increased its position in shares of Envista by 36.8% during the first quarter. Principal Financial Group Inc. now owns 483,983 shares of the company’s stock valued at $12,279,000 after acquiring an additional 130,237 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Envista during the fourth quarter valued at approximately $2,501,000.
Analyst Upgrades and Downgrades A number of brokerages recently weighed in on NVST. JPMorgan Chase & Co. boosted their price objective on shares of Envista from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. BMO Capital Markets began coverage on Envista in a research note on Wednesday, July 8th. They set a “market perform” rating and a $27.00 target price on the stock. Barclays reduced their target price on Envista from $34.00 to $32.00 and set an “overweight” rating for the company in a report on Thursday, June 11th. Weiss Ratings raised Envista from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 6th. Finally, Wall Street Zen raised Envista from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Envista has a consensus rating of “Moderate Buy” and an average price target of $29.31.
Get Our Latest Research Report on Envista Envista Stock Up 0.0% Shares of Envista stock opened at $27.21 on Monday. Envista Holdings Corporation has a twelve month low of $18.77 and a twelve month high of $30.42. The company has a quick ratio of 2.07, a current ratio of 2.43 and a debt-to-equity ratio of 0.47. The company’s 50 day moving average is $26.90 and its 200 day moving average is $26.30. The company has a market cap of $4.37 billion, a price-to-earnings ratio of 46.91, a price-to-earnings-growth ratio of 1.30 and a beta of 0.86.
Envista (NYSE:NVST – Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $730.50 million during the quarter, compared to the consensus estimate of $716.11 million. Envista had a net margin of 3.33% and a return on equity of 7.88%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 EPS. Envista has set its FY 2026 guidance at 1.500-1.550 EPS. Research analysts anticipate that Envista Holdings Corporation will post 1.53 EPS for the current year.
Envista Company Profile (Free Report)
Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company’s offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.
Envista’s product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.
Read More Five stocks we like better than Envista VIG, VYM, and VYMI: Which Vanguard Dividend ETF Is Right for You? 3 Closed-End Funds to Maximize Dividend Payments Rocket Lab’s Sell-Off Is Fading—Is It Finally Safe to Buy? $27 Billion in Buybacks: 3 Stocks Betting Their Strong Runs Aren’t Over Want to see what other hedge funds are holding NVST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Envista Holdings Corporation (NYSE:NVST – Free Report).
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While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.
Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.
Zacks has developed the innovative Style Scores system to highlight stocks with specific traits. For example, value investors will be interested in stocks with great grades in the "Value" category. When paired with a high Zacks Rank, "A" grades in the Value category are among the strongest value stocks on the market today.
One stock to keep an eye on is Envista (NVST - Free Report) . NVST is currently sporting a Zacks Rank #2 (Buy), as well as a Value grade of A. The stock is trading with a P/E ratio of 17.7, which compares to its industry's average of 17.82. Over the past 52 weeks, NVST's Forward P/E has been as high as 26.80 and as low as 14.19, with a median of 17.47.
Investors should also note that NVST holds a PEG ratio of 1.05. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. NVST's PEG compares to its industry's average PEG of 2.00. Over the last 12 months, NVST's PEG has been as high as 2.68 and as low as 0.90, with a median of 1.13.
Investors should also recognize that NVST has a P/B ratio of 1.11. Investors use the P/B ratio to look at a stock's market value versus its book value, which is defined as total assets minus total liabilities. NVST's current P/B looks attractive when compared to its industry's average P/B of 2.53. Over the past 12 months, NVST's P/B has been as high as 1.30 and as low as 0.82, with a median of 1.08.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a preferred metric because revenue can't really be manipulated, so sales are often a truer performance indicator. NVST has a P/S ratio of 1.51. This compares to its industry's average P/S of 1.72.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Envista is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, NVST feels like a great value stock at the moment.
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors, and Zacks Premium offers many different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
Since the Scores were created to work together with the Zacks Rank, the direction of a stock's earnings estimate revisions should be a key factor when choosing which stocks to buy.
For instance, a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one that boasts Scores of A and B, still has a downward-trending earnings forecast, and a much greater likelihood its share price will decline as well.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
Momentum investors should take note of this Medical stock. NVST has a Momentum Style Score of A, and shares are up 5% over the past four weeks.
Seven analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.11 to $1.53 per share. NVST boasts an average earnings surprise of +19.4%.
With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, NVST should be on investors' short list.
Key Takeaways Envista lifted 2026 core sales growth to 3.5%-4.5% and adjusted EBITDA growth to 11%-14%.NVST's Q2 revenue rose 7.1%, while adjusted EBITDA margin expanded 230 basis points to 14.7%.Envista faces China VBP pricing cuts and about $5 million in higher quarterly tariff costs.
Envista Holdings Corporation (NVST - Free Report) raised its 2026 outlook after a stronger first half, putting greater emphasis on whether recent sales and profit gains can carry through the rest of the year.
Higher revenue expectations and expanding margins support the earnings recovery. China pricing changes, tariff costs and a tougher fourth-quarter calendar remain constraints that could test execution.
NVST’s Raised Guidance Resets 2026 ExpectationsManagement lifted its 2026 core sales growth forecast to 3.5%-4.5% from 2%-4%. Adjusted EBITDA is now expected to grow 11%-14%, while adjusted earnings are projected at $1.50-$1.55 per share.
The free-cash-flow conversion target remains approximately 100% of adjusted net income. The Zacks Consensus Estimate stands at $1.53 per share for 2026, placing the consensus mark near the midpoint of management’s revised range.
Image Source: Zacks Investment Research
Envista’s Q2 Results Back the Higher OutlookSecond-quarter revenues increased 7.1% year over year to $730.5 million, while core sales advanced 5%. First-half core growth was just over 7%, giving Envista a stronger base heading into the second half.
Equipment & Consumables led the quarter with 8.5% core sales growth, supported by high-single-digit gains in consumables and diagnostics. Align Technology, Inc. (ALGN - Free Report) also reported 8.2% year-over-year growth in second-quarter clear aligner revenues, while DENTSPLY SIRONA Inc. (XRAY - Free Report) reported $898 million in quarterly net sales and reiterated its 2026 outlook, offering useful context for demand and execution across dental markets.
NVST’s Margin Gains Raise the Earnings CeilingAdjusted gross margin expanded 70 basis points year over year in the second quarter. Adjusted EBITDA margin rose 230 basis points to 14.7%, helping adjusted EBITDA increase 28% despite continued investment in sales, marketing and research and development.
Envista credited manufacturing productivity, pricing, volume and foreign exchange for part of the improvement. The Envista Business System also supported operating leverage, while productivity measures more than offset input-cost inflation and higher tariff costs.
Envista Faces China VBP and Tariff PressureChina’s volume-based procurement programs remain a key second-half variable. Management expects the orthodontic program to result in a large price reduction, similar to the roughly 45% decline seen during the first implant program, while the second implant program could reduce prices by about 10%-15%.
Tariff costs increased about $5 million year over year in the second quarter and are expected to remain at similar quarterly levels in the second half. Management has incorporated both China volume-based procurement programs into guidance, but these headwinds leave less room for operational slippage.
NVST’s Strong Signals Support the Guidance ResetThe raised outlook is supported by better sales momentum, wider margins and higher earnings expectations, but sustaining the reset will depend on Envista carrying those gains through a more challenging second half. The company expects fourth-quarter core growth to be flat to slightly down because of four fewer selling days, though growth excluding that calendar effect is expected to align with the full-year range.
NVST currently carries a Zacks Rank #1 (Strong Buy). It also has a Value Score of B, Momentum Score of B and VGM Score of B, a combination that complements the top Zacks Rank. The Growth Score of D is less favorable, keeping attention on whether the 2026 earnings rebound can translate into a more durable growth profile.
You can see the complete list of today's Zacks #1 Rank stocks here.
Key Takeaways NVST's Q2 adjusted EPS jumped 57.7%, while operating profit rose 73.4% and margins expanded.NVST raised adjusted earnings guidance to $1.50-$1.55 and EBITDA growth guidance to 11%-14%.NVST faces China pricing pressure, tariffs and uneven product trends that could temper further upside. Envista Holdings Corporation (NVST - Free Report) is showing a sharper earnings recovery after a solid second quarter, with stronger profitability and raised 2026 guidance strengthening the near-term case.
The offset is valuation. NVST now trades above its five-year median forward earnings multiple, leaving less room for execution setbacks even as operating momentum improves.
NVST’s Earnings Recovery Supports the Bull CaseAdjusted earnings were 41 cents per share in the second quarter of 2026, up 57.7% year over year. Operating profit rose 73.4% to $80.3 million, while the operating margin expanded 420 basis points to 11%.
The Zacks Consensus Estimate calls for 2026 earnings of $1.53 per share, up from $1.19 in 2025. Management also raised adjusted earnings guidance to $1.50-$1.55 and adjusted EBITDA growth guidance to 11%-14%, reinforcing expectations for a meaningful profit recovery.
Image Source: Zacks Investment Research
Envista’s Valuation Leaves Less Room for ErrorNVST trades at 18.0X forward 12-month earnings, above its five-year median of 17.5X and the Zacks sub-industry’s 16.2X. That premium suggests investors are already assigning value to the improving earnings trajectory.
The picture is not uniformly expensive. NVST’s multiple remains below the Zacks Medical sector’s 20.5X and the S&P 500’s 20.7X. Still, with the stock above its own historical median, further upside may depend more heavily on sustained execution.
Image Source: Zacks Investment Research
NVST’s Growth Drivers Extend Beyond One QuarterSecond-quarter core sales increased 5%. Equipment & Consumables core sales rose 8.5%, supported by high-single-digit growth in consumables and diagnostics, while Spark grew at a double-digit rate and implants advanced at a low-single-digit pace.
New products and the Versah acquisition add more growth avenues. Align Technology, Inc. (ALGN - Free Report) reported an 8.2% year-over-year increase in second-quarter 2026 clear aligner revenues, showing continued activity in a category where Spark competes. DENTSPLY SIRONA Inc. (XRAY - Free Report) , another diversified dental-products company, reported $898 million in second-quarter 2026 net sales and reiterated its 2026 outlook.
Envista’s Risks Could Limit Further Re-RatingChina pricing remains a major uncertainty. Management expects the orthodontic volume-based procurement program to produce a large price reduction, while the second implant program could reduce prices by about 10%-15%.
Tariff costs increased about $5 million year over year in the second quarter and are expected to remain at similar quarterly levels in the second half. Brackets and wires also declined at a high-single-digit rate, highlighting uneven performance across the portfolio.
NVST’s Style Profile Favors Value and MomentumThe investment case has improved, but the above-median valuation raises the bar for continued earnings delivery. Investors weighing the stock now have stronger operating trends on one side and policy, tariff and product-execution risks on the other.
NVST currently carries a Zacks Rank #1 (Strong Buy). It also has a Value Score of B, Momentum Score of B and VGM Score of B, all favorable readings when paired with a top Zacks Rank. Its Growth Score of D is the main counterweight, reflecting a less favorable growth profile despite the current earnings rebound.
You can see the complete list of today's Zacks #1 Rank stocks here.
Key Takeaways Envista has a 13.7% five-year expected growth rate and a Value Score of B.Sanmina boasts a 27.4% five-year expected growth rate and a Value Score of B.TAL Education and Avient also qualify, with expected growth rates of 13.6% and 10.4%, respectively. At a time when volatility strikes every second day, investors often rely on value investing rather than other options like growth or momentum. As soon as other investors start selling their stocks at a cheaper rate in times of market uncertainty, value investors take this as an opportunity to pick good stocks at a discounted price.
Several stocks that have surged significantly in the recent past have shown the overwhelming success of this pure-play investment strategy. Here, we discuss four such stocks — Envista Corporation (NVST - Free Report) , Sanmina Corporation (SANM - Free Report) , TAL Education Group (TAL - Free Report) and Avient Corporation (AVNT - Free Report) .
However, this apparently simple value investment technique has some drawbacks and not understanding the strategy properly may often lead to “value traps.” In such a situation, these value picks start to underperform over the long run as the temporary problems, which once drove the share price down, turn out to be persistent.
There are many value investment yardsticks, such as dividend yield, P/E or P/B, which are simple and can single out whether a stock is trading at a discount.
However, for investors looking to escape such value traps, it is also vital to determine where the stock would be headed in the next 12 to 24 months. Warren Buffett advises these investors to focus on the earnings growth potential of a stock. This is where lies the importance of a not-so-popular value investing metric, the PEG ratio.
PEG Ratio at a GlanceThe PEG ratio is defined as (Price/ Earnings)/Earnings Growth Rate
A low PEG ratio is always better for value investors.
While P/E alone fails to identify a true value stock, PEG helps find the intrinsic value of a stock.
There are some drawbacks to using the PEG ratio. It doesn’t consider the very common situation of changing growth rates, such as the forecast of the first three years at a very high growth rate, followed by a sustainable but lower growth rate over the long term.
Hence, PEG-based investing can turn out to be even more rewarding if some other relevant parameters are also taken into consideration.
Here are some of the screening criteria for a winning strategy:
PEG Ratio less than X Industry Median
P/E Ratio (using F1) less than X Industry Median (for more accurate valuation purposes)
Zacks Rank #1 (Strong Buy) or 2 (Buy) (Whether good market conditions or bad, stocks with a Zacks Rank #1 or 2 have a proven history of success.)
Market Capitalization greater than $1 billion (This helps us to focus on companies that have strong liquidity.)
Average 20-Day Volume greater than 50,000 (A substantial trading volume ensures that the stock is easily tradable.)
Percentage Change F1 Earnings Estimate Revisions (4 Weeks) greater than 5% (Upward estimate revisions add to the optimism, suggesting further bullishness.)
Value Score of less than or equal to B: Our research shows that stocks with a Style Score of A or B when combined with a Zacks Rank #1, 2 or 3 (Hold) offer the best upside potential.
Our PEG-Driven PicksHere are four stocks that qualified the screening:
Envista: Headquartered in Brea, CA, Envista provides dental solutions through more than 30 brands, including Nobel Biocare, Ormco, DEXIS and Kerr. Its Specialty Products & Technologies segment, which generated 64.4% of 2025 revenues, offers dental implants, orthodontic products, aligners, prosthetics, treatment software and related technologies.
NVST currently has a Zacks Rank #1 and a Value Score of B. Envista also has an impressive five-year expected growth rate of 13.7%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Sanmina: Headquartered in San Jose, CA, Sanmina provides electronics manufacturing, engineering and supply-chain solutions to OEMs across industrial, medical, defense, aerospace, automotive, communications and AI infrastructure markets. Its IMS segment, which generated 87.5% of 2025 revenues, covers PCB assembly, systems integration and fulfillment, while CPS provides advanced components and related services.
Sanmina currently has a Zacks Rank #1 and a Value Score of B. SANM also has an impressive five-year expected growth rate of 27.4%.
TAL Education: It provides smart learning solutions in China through small classes, personalized services, online courses and learning content across print, digital and device-based formats. Founded in 2003 and headquartered in Beijing, the company also offers educational software, learning devices, mobile applications, and related technology and consulting services.
Apart from a discounted PEG and P/E, TAL currently has a Zacks Rank #1 and a Value Score of A. TAL has a long-term expected growth rate of 13.6%.
Avient: It is a global specialty-materials company providing color, additives, inks, engineered polymers, advanced composites and performance fibers. It serves diverse markets through two segments, Color, Additives and Inks and Specialty Engineered Materials, with 61% of 2025 sales generated outside the United States.
Avient has a Zacks Rank #2 and a Value Score of B. AVNT also has an impressive five-year expected growth rate of 10.4%.
Have you evaluated the performance of Envista's (NVST - Free Report) international operations during the quarter that concluded in June 2026? Considering the extensive worldwide presence of this maker of dental products, analyzing the patterns in international revenues is crucial for understanding its financial resilience and potential for growth.
In the current global economy, which is more interconnected than ever, a company's success in penetrating international markets is crucial for its financial health and growth journey. Investors must understand a company's dependence on overseas markets, as this offers a window into the company's earnings stability, its ability to benefit from varied economic cycles and its potential for long-term growth.
Participation in global economies acts as a defense against economic difficulties at home and a pathway to more rapidly developing economies. However, it also comes with the complexities of dealing with fluctuating currencies, geopolitical risks and different market dynamics.
In our recent assessment of NVST's quarterly performance, we discovered notable trends in its overseas revenue sections, which are typically modeled and scrutinized by Wall Street analysts.
The company's total revenue for the quarter amounted to $730.5 million, showing rise of 7.1%. We will now explore the breakdown of NVST's overseas revenue to assess the impact of its international operations.
A Closer Look at NVST's Revenue Streams AbroadEmerging markets generated $166 million in revenues for the company in the last quarter, constituting 22.7% of the total. This represented a surprise of +3.43% compared to the $160.5 million projected by Wall Street analysts. Comparatively, in the previous quarter, Emerging markets accounted for $125 million (17.7%), and in the year-ago quarter, it contributed $150.4 million (22.1%) to the total revenue.
Other developed markets accounted for 4.7% of the company's total revenue during the quarter, translating to $34.5 million. Revenues from this region represented a surprise of +12.31%, with Wall Street analysts collectively expecting $30.72 million. When compared to the preceding quarter and the same quarter in the previous year, Other developed markets contributed $31.5 million (4.5%) and $29.7 million (4.4%) to the total revenue, respectively.
During the quarter, Western Europe contributed $165.3 million in revenue, making up 22.6% of the total revenue. When compared to the consensus estimate of $161.37 million, this meant a surprise of +2.44%. Looking back, Western Europe contributed $184.8 million, or 26.2%, in the previous quarter, and $154.1 million, or 22.6%, in the same quarter of the previous year.
Revenue Projections for Overseas MarketsThe current fiscal quarter's total revenue for Envista, as projected by Wall Street analysts, is expected to reach $694.71 million, reflecting an increase of 3.7% from the same quarter last year. The breakdown of this revenue by foreign region is as follows: Emerging markets is anticipated to contribute 22.4% or $155.72 million, Other developed markets 4.6% or $31.71 million and Western Europe 20.7% or $143.44 million.
For the full year, a total revenue of $2.88 billion is expected for the company, reflecting an increase of 6% from the year before. The revenues from Emerging markets, Other developed markets and Western Europe are expected to make up 20.7%, 4.4%, and 23% of this total, corresponding to $596.25 million, $126.34 million, and $663.74 million, respectively.
In ConclusionEnvista's reliance on international markets for revenues offers both opportunities and risks. Hence, keeping an eye on its international revenue trends could significantly help forecast the company's prospects.
In an era of growing international ties and escalating geopolitical disputes, financial analysts on Wall Street pay keen attention to these developments to fine-tune their earnings estimations for businesses operating across borders. It's important to note, however, that a range of additional variables, like a company's local market status, also play a crucial role in shaping these forecasts.
Emphasizing a company's shifting earnings prospects is a key aspect of our approach at Zacks, especially since research has proven its substantial influence on a stock's price in the short run. This correlation is positively aligned, meaning that improved earnings projections tend to boost the stock's price.
With an impressive externally audited track record, our proprietary stock rating tool - the Zacks Rank - harnesses the power of earnings estimate revisions and serves as an effective indicator of a stock's near-term price performance.
Envista currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Assessing Envista's Stock Price Movement in Recent TimesThe stock has witnessed an increase of 8.7% over the past month versus the Zacks S&P 500 composite's an increase of 3.4%. In the same interval, the Zacks Medical sector, to which Envista belongs, has registered a decrease of 0.4%. Over the past three months, the company's shares saw an increase of 21.2%, while the S&P 500 increased by 6%. In comparison, the sector experienced an increase of 10.8% during this timeframe.
Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, August 10:
Vertiv Holdings Co (VRT - Free Report) : This digital infrastructure technology company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 6.8% over the last 60 days.
Vertiv Holdings has a PEG ratio of 1.13 compared with 2.55 for the industry. The company possesses a Growth Score of A.
Envista Holdings Corporation (NVST - Free Report) : This dental products company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.8% over the last 60 days.
Envista Holdings Corporation has a PEG ratio of 1.34 compared with 2.47 for the industry. The company possesses a Growth Score of B.
AerCap Holdings N.V. (AER - Free Report) : This aircraft leasing and financing company carriesa Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 12.6% over the last 60 days.
AerCap Holdings has a PEG ratio of 0.60 compared with 1.51 for the industry. The company possesses a Growth Score of A.
See the full list of top-ranked stocks here.
Learn more about the Growth score and how it is calculated here.
Envista NYSE: NVST reported second-quarter 2026 sales of $731 million, supported by 5% core revenue growth and contributions from foreign exchange and acquisitions that lifted total revenue growth to just over 7%.
President and Chief Executive Officer Paul Keel said the company delivered balanced growth across its two reporting segments and major geographies, while the dental market remained resilient amid macroeconomic pressure. The company reported 7% core growth for the first half of 2026.
Adjusted EBITDA increased 28% year over year, while adjusted EBITDA margin expanded 230 basis points to 14.7%. Adjusted earnings per share rose 58% to $0.41. The company generated $105 million in free cash flow during the quarter, representing 158% conversion, and repurchased approximately 2.4 million shares at an average price of $24 per share.
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Segment growth led by equipment and consumables Equipment and Consumables posted 8.5% core sales growth, with high-single-digit growth in both consumables and diagnostics. Keel said consumables benefited from its relative insulation from macro volatility because its products support procedures that are typically covered by insurance. Diagnostics also benefited from a market recovery following a multiyear post-COVID contraction, he said.
Keel said Envista estimates the consumables and diagnostics markets grew at mid-single-digit rates during the first half, while the company’s businesses grew at high-single-digit to low-double-digit rates. He attributed the outperformance to share gains, commercial and operational initiatives, and new-product activity.
Specialty Products & Technologies reported 3.1% core sales growth and nearly 6% total revenue growth. Spark clear aligners again delivered double-digit growth, or high-single-digit growth after accounting for changes in revenue deferrals. Implant core sales increased by low single digits, while brackets and wires declined by high single digits against a prior-year comparison that benefited from customer purchases ahead of tariff and pricing actions.
Adjusted operating profit in Specialty Products & Technologies increased $9 million, or 15%, and segment margin improved 120 basis points. Equipment and Consumables adjusted operating profit increased 25%, with operating margin rising 250 basis points, driven by pricing, volume and foreign-exchange benefits.
New products and investment initiatives During the quarter, Envista launched ZenSeal Pro, a bioceramic endodontic sealer used in root canal procedures, and Demi Pro, a lightweight cordless curing light for restorative procedures. Keel said the company expects the launches to build on recent consumables share gains.
In orthodontics, Envista expanded Ormco Digital Bonding, or ODB, to all of its bracket systems. The digital platform was initially launched in 2023 with the Damon Ultima system. Keel said the expanded offering makes Envista the only scaled player offering complete solutions across both clear aligners and fixed orthodontics.
The company also discussed ongoing implant investments. Keel said the S-series implant launch introduced in the first quarter was ahead of plan, with roughly one-quarter of sales coming from competitive conversions. An abutments product is available in Europe and could launch in North America during the second half, subject to regulatory approvals. The company’s Versah acquisition, which added osseodensification technology, is also performing ahead of its acquisition plan, according to Keel.
China VBP expectations and second-half cadence Envista expects China’s volume-based procurement processes for orthodontics, or VBP1, and implants, or VBP2, to occur in the second half of 2026. Management incorporated that assumption into its revised outlook.
Keel said Envista expects orthodontics VBP1 to result in price compression similar to the first implant VBP, which saw prices decline by roughly 45%, although he said the company expects share gains. For implant VBP2, Envista expects a smaller price decline of approximately 10% to 15%.
Management expects China to grow moderately in the second half, with somewhat stronger growth in the fourth quarter. Chief Financial Officer Eric Hammes said the company has maintained a lean channel position and expects its global presence, supply chain and market position to support a post-VBP response. He said Envista was down year over year in China during the first half.
Hammes also said the company expects approximately 3.5% core growth in the second half on a normalized basis. Reported fourth-quarter core growth is expected to be flat to slightly down because the quarter will have four fewer selling days than the prior-year period. Excluding the calendar effect, the company expects fourth-quarter core growth to align with its full-year guidance range.
Raised full-year outlook Envista raised and narrowed its 2026 guidance, now expecting:
Core sales growth of 3.5% to 4.5%. Adjusted EBITDA growth of 11% to 14%. Adjusted EPS of $1.50 to $1.55. Free cash flow conversion of approximately 100% of adjusted net income. Hammes said the company expects foreign-exchange effects on both revenue and profit to be nominal to near zero in the second half, assuming currency rates remain near recent levels. He also said Envista now expects a full-year non-GAAP tax rate of about 26%, about two percentage points below its initial guidance.
Looking ahead, Envista plans to hold an investor day on Sept. 17, where management said it will provide an update on the value-creation plan introduced in March 2025, financial progress and innovation priorities across its four main businesses.
About Envista (NYSE:NVST)Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company's offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.
Envista's product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].
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Should You Invest $1,000 in Envista Right Now?Before you consider Envista, you'll want to hear this.
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For new and old investors, taking full advantage of the stock market and investing with confidence are common goals. Zacks Premium provides lots of different ways to do both.
The popular research service can help you become a smarter, more self-assured investor, giving you access to daily updates of the Zacks Rank and Zacks Industry Rank, the Zacks #1 Rank List, Equity Research reports, and Premium stock screens.
It also includes access to the Zacks Style Scores.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreValue investors love finding good stocks at good prices, especially before the broader market catches on to a stock's true value. Utilizing ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and many other multiples, the Value Style Score identifies the most attractive and most discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
How Style Scores Work with the Zacks Rank The Zacks Rank is a proprietary stock-rating model that harnesses the power of earnings estimate revisions, or changes to a company's earnings expectations, to help investors build a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.94% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To have the best chance of big returns, you'll want to always consider stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B, which will give you the highest probability of success. If you're looking at stocks with a #3 (Hold) rank, it's important they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #2 (Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 18.22; value investors should take notice.
Five analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.08 to $1.50 per share. NVST boasts an average earnings surprise of +19.4%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.
Investors interested in stocks from the Medical - Products sector have probably already heard of Envista (NVST - Free Report) and Abbott (ABT - Free Report) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look.
We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, while our Style Scores work to identify stocks with specific traits.
Envista and Abbott are sporting Zacks Ranks of #2 (Buy) and #3 (Hold), respectively, right now. This means that NVST's earnings estimate revision activity has been more impressive, so investors should feel comfortable with its improving analyst outlook. But this is only part of the picture for value investors.
Value investors analyze a variety of traditional, tried-and-true metrics to help find companies that they believe are undervalued at their current share price levels.
Our Value category highlights undervalued companies by looking at a variety of key metrics, including the popular P/E ratio, as well as the P/S ratio, earnings yield, cash flow per share, and a variety of other fundamentals that have been used by value investors for years.
NVST currently has a forward P/E ratio of 18.22, while ABT has a forward P/E of 19.56. We also note that NVST has a PEG ratio of 1.47. This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company's expected earnings growth rate. ABT currently has a PEG ratio of 2.09.
Another notable valuation metric for NVST is its P/B ratio of 1.45. The P/B is a method of comparing a stock's market value to its book value, which is defined as total assets minus total liabilities. By comparison, ABT has a P/B of 3.61.
These metrics, and several others, help NVST earn a Value grade of B, while ABT has been given a Value grade of C.
NVST has seen stronger estimate revision activity and sports more attractive valuation metrics than ABT, so it seems like value investors will conclude that NVST is the superior option right now.
Envista (NVST - Free Report) reported $730.5 million in revenue for the quarter ended June 2026, representing a year-over-year increase of 7.1%. EPS of $0.41 for the same period compares to $0.26 a year ago.
The reported revenue represents a surprise of +2.17% over the Zacks Consensus Estimate of $715.01 million. With the consensus EPS estimate being $0.33, the EPS surprise was +24.24%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Envista performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Sales- Equipment & Consumables- Emerging markets: $37.3 million versus $38 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +11.3% change.Geographic Sales- Equipment & Consumables- Other developed markets: $10.1 million versus the three-analyst average estimate of $7.94 million. The reported number represents a year-over-year change of +29.5%.Geographic Sales- North America: $364.7 million versus the three-analyst average estimate of $360.96 million. The reported number represents a year-over-year change of +4.8%.Geographic Sales- Western Europe: $165.3 million versus $161.37 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.3% change.Geographic Sales- Other developed markets: $34.5 million versus $30.72 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +16.2% change.Geographic Sales- Equipment & Consumables- Western Europe: $32.1 million versus $30.34 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +8.1% change.Geographic Sales- Specialty Products & Technologies- North America: $184.7 million versus the three-analyst average estimate of $191.59 million. The reported number represents a year-over-year change of +1.5%.Geographic Sales- Specialty Products & Technologies- Western Europe: $133.2 million versus $131.03 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.Geographic Sales- Specialty Products & Technologies- Other developed markets: $24.4 million compared to the $22.78 million average estimate based on three analysts. The reported number represents a change of +11.4% year over year.Geographic Sales- Specialty Products & Technologies- Emerging markets: $128.7 million versus $122.5 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.1% change.Sales- Equipment & Consumables: $259.5 million versus the three-analyst average estimate of $245.65 million. The reported number represents a year-over-year change of +9.5%.Sales- Specialty Products & Technologies: $471 million compared to the $467.89 million average estimate based on three analysts. The reported number represents a change of +5.8% year over year.View all Key Company Metrics for Envista here>>>
Shares of Envista have returned +3.1% over the past month versus the Zacks S&P 500 composite's +3.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Envista (NVST - Free Report) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.26 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +24.24%. A quarter ago, it was expected that this maker of dental products would post earnings of $0.31 per share when it actually produced earnings of $0.36, delivering a surprise of +16.13%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Envista, which belongs to the Zacks Medical - Products industry, posted revenues of $730.5 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 2.17%. This compares to year-ago revenues of $682.1 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Envista shares have added about 28.8% since the beginning of the year versus the S&P 500's gain of 13%.
What's Next for Envista?While Envista has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Envista was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.34 on $693.32 million in revenues for the coming quarter and $1.42 on $2.86 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Agilent Technologies (A - Free Report) , is yet to report results for the quarter ended July 2026. The results are expected to be released on August 26.
This scientific instrument maker is expected to post quarterly earnings of $1.48 per share in its upcoming report, which represents a year-over-year change of +8%. The consensus EPS estimate for the quarter has been revised 0.2% higher over the last 30 days to the current level.
Agilent Technologies' revenues are expected to be $1.84 billion, up 6% from the year-ago quarter.
, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced results for the quarter ended July 3, 2026.
"We built on our fast start in Q1 with continued good performance in Q2," said Paul Keel, CEO. "We delivered growth across both our reporting segments and all major geographies. Our focus on operational excellence, underpinned by the Envista Business System, contributed to further margin expansion. Based on our strong first-half performance and continued momentum, we are raising our full year outlook for core sales growth, adjusted EBITDA, and adjusted EPS. We are well-positioned to deliver another year of progress and performance."
Second Quarter Financial Highlights
Sales were $731 million, with core sales growth of 5.0% over the second quarter of 2025. GAAP diluted EPS of $0.33 and adjusted diluted EPS of $0.41 (+58% year-on-year) GAAP Net Income of $54 million and adjusted EBITDA of $108 million (+28% year-on-year), with an adjusted EBITDA margin of 14.7% (+230 bps year-on-year) Second Quarter Business Highlights
Growth: In the context of macro uncertainty, both reporting segments delivered positive growth, with 3.1% core growth in Specialty Products & Technologies and 8.5% core growth in Equipment and Consumables. Operations: Ongoing contributions from the Envista Business System (EBS) supporting 70 bps of adjusted gross margin and 230 bps of adjusted EBITDA margin expansion. People: Continued to advance our high-performing, continuous improvement culture through numerous customer, employee, and charitable events around the world. Net Income, EBITDA, and EPS (in millions, except per share amounts):
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
GAAP Net Income
$ 54
$ 26
$ 92
$ 44
Adjusted Net Income
$ 67
$ 44
$ 126
$ 85
Adjusted EBITDA
$ 108
$ 84
$ 207
$ 163
GAAP Diluted Earnings Per Share
$ 0.33
$ 0.16
$ 0.56
$ 0.26
Adjusted Diluted Earnings Per Share
$ 0.41
$ 0.26
$ 0.77
$ 0.50
Cash Flow:
Operating cash flow for the second quarter of 2026 was $119 million and free cash flow was $105 million, compared to $89 million and $76 million in the second quarter of 2025, respectively.
Share Repurchases:
During the quarter ended July 3, 2026, we repurchased 2.4 million shares for approximately $59 million. At the end of the quarter, we had approximately $283 million remaining repurchase capacity under our stock repurchase program.
Outlook:
We are updating our guidance for the full year 2026:
Current 2026 Guidance
Prior 2026 Guidance
Core Sales Growth
3.5% to 4.5%
2% to 4%
Adjusted EBITDA Growth
11% to 14%
7% to 13%
Adjusted Diluted Earnings Per Share
$1.50 to $1.55
$1.35 to $1.45
Free Cash Flow Conversion
~100%
~100%
Please note, we do not provide forward-looking estimates on a GAAP basis as certain information is not available and cannot be reasonably estimated.
We will discuss our quarterly results and provide details on our outlook for 2026 during an investor conference call on August 5, 2026, starting at 2:00 P.M. PT. The call and an accompanying slide presentation will be webcast on the "Investors" section of our website, www.envistaco.com, under the subheading "Events & Presentations." A replay of the webcast will be available in the same section of our website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing 800-836-8184 within the U.S. or +1 646-357-8785 outside the U.S. a few minutes before 2:00 PM PT and referencing conference ID #73468. A replay of the conference call will be available shortly after the conclusion of the call. You can access the replay dial-in information on the "Investors" section of our website under the subheading "Events & Presentations." Presentation materials relating to our results have been posted to the "Investors" section of our website under the subheading "Quarterly Earnings".
ABOUT ENVISTA
Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years. Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System. Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future. Learn more at http://envistaco.com.
NON-GAAP MEASURES
All "Adjusted" amounts including core sales growth and free cash flow are non-GAAP items. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these non-GAAP measures are included in the attached supplemental schedules. We do not reconcile forward looking non-GAAP measures to the comparable GAAP measures because of the inherent difficulty in predicting and estimating the future impact and timing of currency translation, acquisitions, discontinued products, and any other potential adjustments which would be reflected in any forecasted GAAP measure.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the conditions in the U.S. and global economy, the impact of inflation and increasing interest rates, slower economic growth or recession, international economic, political, legal, compliance and business factors, the markets served by us and the financial markets, the impact of our debt obligations on our operations and liquidity, developments and uncertainties in trade policies and regulations including tariffs or other impositions on imported goods, contractions or growth rates and cyclicality of markets we serve, risks relating to product manufacturing, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole or limited sources of supply, disruptions relating to war (including supply chain disruptions), terrorism, climate change, widespread protests and civil unrest, man-made and natural disasters, public health issues and other events, security breaches or other disruptions of our information technology systems or violations of data privacy laws, security breaches or other disruptions affecting our external information technology contractors, vendors or other service providers, our growing use of artificial intelligence systems to automate processes and analyze data, fluctuations in inventory of our distributors and customers, loss of a key distributor, our relationships with and the performance of our channel partners, competition, our ability to develop and successfully market new products and services, our ability to attract, develop and retain our key personnel, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including regulations relating to medical devices and the health care industry), the results of our clinical trials and perceptions thereof, penalties associated with any off-label marketing of our products, modifications to our products that require new marketing clearances or authorizations, our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments, our ability to integrate the businesses we acquire and achieve the anticipated benefits of such acquisitions, contingent liabilities relating to acquisitions, investments and divestitures, our ability to adequately protect our intellectual property, the impact of our restructuring activities on our ability to grow, risks relating to impairment charges for our goodwill and intangible assets, changes in accounting standards and subjective assumptions, estimates and judgment by management, currency exchange rates, changes in tax laws applicable to multinational companies, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, risks relating to product, service or software defects, the impact of regulation on demand for our products and services, and labor matters. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for fiscal year 2025 and our Quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release and except to the extent required by applicable law, we do not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
CONTACT
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
[email protected]
ENVISTA HOLDINGS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
($ and shares in millions, except per share amounts)
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Sales
$ 730.5
$ 682.1
$ 1,436.0
$ 1,299.0
Cost of sales
323.5
312.2
638.9
593.1
Gross profit
407.0
369.9
797.1
705.9
Operating expenses:
Selling, general and administrative
296.3
295.3
593.9
567.0
Research and development
30.4
28.3
60.4
53.6
Operating profit
80.3
46.3
142.8
85.3
Nonoperating (expense) income:
Other income (expense), net
2.8
2.4
(0.1)
1.7
Interest expense, net
(8.7)
(8.0)
(16.1)
(17.3)
Income before income taxes
74.4
40.7
126.6
69.7
Income tax expense
20.7
14.3
34.2
25.3
Net income
$ 53.7
$ 26.4
$ 92.4
$ 44.4
Earnings per share:
Earnings - basic
$ 0.33
$ 0.16
$ 0.57
$ 0.26
Earnings - diluted
$ 0.33
$ 0.16
$ 0.56
$ 0.26
Average common stock and common equivalent
shares outstanding:
Trade accounts receivable, less allowance for credit losses of $21.8 and $22.5,
respectively
436.9
429.6
Inventories, net
290.9
288.1
Prepaid expenses and other current assets
104.6
97.2
Total current assets
1,958.0
2,026.6
Property, plant and equipment, net
295.7
296.8
Operating lease right-of-use assets
146.2
142.1
Other long-term assets
230.4
228.1
Goodwill
2,353.5
2,358.2
Other intangible assets, net
613.3
627.2
Total assets
$ 5,597.1
$ 5,679.0
LIABILITIES AND EQUITY
Current liabilities:
Trade accounts payable
190.2
191.6
Accrued expenses and other liabilities
578.6
622.0
Operating lease liabilities
38.5
39.0
Total current liabilities
807.3
852.6
Operating lease liabilities
113.2
110.4
Other long-term liabilities
164.0
161.4
Long-term debt
1,436.3
1,448.3
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued
or outstanding at July 3, 2026 and December 31, 2025
—
—
Common stock, $0.01 par value, 500.0 million shares authorized; 176.4 million
shares issued and 160.6 million shares outstanding at July 3, 2026; 175.4 million
shares issued and 163.8 million shares outstanding at December 31, 2025
1.8
1.8
Treasury stock at cost; 15.8 million shares and 11.6 million shares at July 3, 2026
and December 31, 2025, respectively
(333.7)
(224.5)
Additional paid-in capital
3,906.1
3,882.6
Accumulated deficit
(348.0)
(440.4)
Accumulated other comprehensive loss
(149.9)
(113.2)
Total stockholders' equity
3,076.3
3,106.3
Total liabilities and stockholders' equity
$ 5,597.1
$ 5,679.0
ENVISTA HOLDINGS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
($ in millions)
Six Months Ended
July 3, 2026
June 27, 2025
Cash flows from operating activities:
Net income
$ 92.4
$ 44.4
Noncash items:
Depreciation
20.8
19.9
Amortization
36.2
37.8
Allowance for credit losses
5.8
4.0
Stock-based compensation expense
19.7
16.8
Gain on investments in rabbi trust, net
(1.9)
(1.6)
Loss on equity investments
2.0
—
(Gain) loss on sale of property, plant and equipment
(2.7)
0.3
Restructuring charges
0.9
0.2
Fixed assets impairments and other charges
0.9
1.4
Non-cash operating lease costs
18.5
17.2
Amortization of debt discount and issuance costs
2.0
2.2
Deferred income taxes
—
(0.9)
Change in trade accounts receivable
(14.5)
(37.2)
Change in inventories
(0.9)
(23.5)
Change in trade accounts payable
0.1
(10.0)
Change in prepaid expenses and other assets
(7.3)
(4.3)
Change in accrued expenses and other liabilities
(32.4)
44.5
Change in operating lease liabilities
(23.7)
(22.2)
Net cash provided by operating activities
115.9
89.0
Cash flows from investing activities:
Payments for additions to property, plant and equipment
(27.4)
(18.2)
Purchases of investments held in rabbi trust
(3.7)
(1.0)
Proceeds from sale of investments held in rabbi trust
1.5
0.9
Proceeds from sales of property, plant and equipment
0.9
0.5
Acquisitions, net of cash acquired
(54.4)
—
All other investing activities, net
(0.1)
(8.1)
Net cash used in investing activities
(83.2)
(25.9)
Cash flows from financing activities:
Proceeds from stock option exercises
4.0
1.5
Cash paid for treasury stock under the stock repurchase program
(103.0)
(100.3)
Treasury stock purchases related to tax withholding on equity awards
(6.9)
(4.3)
Principal paid related to exchange of convertible notes due 2025
—
(116.3)
Proceeds from revolving line of credit
—
115.4
All other financing activities
(0.4)
—
Net cash used in financing activities
(106.3)
(104.0)
Effect of exchange rate changes on cash and cash equivalents
(12.5)
82.4
Net change in cash and cash equivalents
(86.1)
41.5
Beginning balance of cash and cash equivalents
1,211.7
1,069.1
Ending balance of cash and cash equivalents
$ 1,125.6
$ 1,110.6
ENVISTA HOLDINGS CORPORATION
SUMMARY OF FINANCIAL METRICS (Unaudited)
($ in millions, except per share amounts)
GAAP
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Gross Profit
$ 407.0
$ 369.9
$ 797.1
$ 705.9
Operating Profit
$ 80.3
$ 46.3
$ 142.8
$ 85.3
Net Income
$ 53.7
$ 26.4
$ 92.4
$ 44.4
Diluted Earnings Per Share
$ 0.33
$ 0.16
$ 0.56
$ 0.26
Operating Cash Flow
$ 119.2
$ 88.7
$ 115.9
$ 89.0
NON-GAAP *
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Adjusted Gross Profit
$ 402.2
$ 371.2
$ 795.8
$ 709.5
Adjusted Operating Profit
$ 94.5
$ 71.1
$ 183.9
$ 141.7
Adjusted Net Income
$ 66.5
$ 43.7
$ 126.5
$ 85.2
Adjusted Diluted EPS
$ 0.41
$ 0.26
$ 0.77
$ 0.50
Adjusted EBITDA
$ 107.7
$ 84.3
$ 206.6
$ 163.3
Free Cash Flow
$ 105.1
$ 76.4
$ 89.4
$ 71.3
*
For information on non-GAAP measures see "Reconciliation of GAAP to Non-GAAP Financial Measures" below. Also see the accompanying "Notes to Reconciliation of GAAP to Non-GAAP Financial Measures."
ENVISTA HOLDINGS CORPORATION
SEGMENT INFORMATION (Unaudited)
($ in millions)
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Sales
Specialty Products & Technologies
$ 471.0
$ 445.1
$ 928.8
$ 845.4
Equipment & Consumables
259.5
237.0
507.2
453.6
Total
$ 730.5
$ 682.1
$ 1,436.0
$ 1,299.0
Operating Profit (Loss)
Specialty Products & Technologies
$ 60.1
$ 45.3
$ 106.6
$ 82.9
Equipment & Consumables
45.9
36.1
92.7
68.0
Other
(25.7)
(35.1)
(56.5)
(65.6)
Total
$ 80.3
$ 46.3
$ 142.8
$ 85.3
Operating Margins
Specialty Products & Technologies
12.8 %
10.2 %
11.5 %
9.8 %
Equipment & Consumables
17.7 %
15.2 %
18.3 %
15.0 %
Total
11.0 %
6.8 %
9.9 %
6.6 %
ENVISTA HOLDINGS CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)
($ and shares in millions, except per share amounts)
Adjusted Gross Profit and Adjusted Gross Margin
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Gross Profit
$ 407.0
$ 369.9
$ 797.1
$ 705.9
Restructuring costs and asset impairments A
7.3
0.3
10.4
2.2
Fair value adjustment of acquisition-related
inventory B
Amortization of acquisition-related and other
intangible assets
17.4
19.0
36.2
37.8
Restructuring costs and asset impairments A
8.9
4.7
16.3
16.1
Fair value adjustment of acquisition-related
inventory B
0.5
1.0
0.9
1.4
Tariff refunds C
(12.6)
—
(12.6)
—
Litigation settlement D
—
—
—
0.8
Acquisition-related expenses E
—
0.1
0.3
0.3
Adjusted Operating Profit
$ 94.5
$ 71.1
$ 183.9
$ 141.7
Adjusted Operating Profit as a % of Sales
12.9 %
10.4 %
12.8 %
10.9 %
Specialty Products & Technologies
Operating Profit
$ 60.1
$ 45.3
$ 106.6
$ 82.9
Amortization of acquisition-related and other
intangible assets
15.3
14.8
30.9
29.4
Restructuring costs and asset impairments A
6.1
0.1
10.5
4.3
Tariff refunds C
(12.2)
—
(12.2)
—
Adjusted Operating Profit
$ 69.3
$ 60.2
$ 135.8
$ 116.6
Adjusted Operating Profit as a % of Sales
14.7 %
13.5 %
14.6 %
13.8 %
Equipment & Consumables
Operating Profit
$ 45.9
$ 36.1
$ 92.7
$ 68.0
Amortization of acquisition-related and other
intangible assets
2.1
4.2
5.3
8.4
Restructuring costs and asset impairments A
4.2
1.2
6.2
3.5
Tariff refunds C
(0.4)
—
(0.4)
—
Litigation settlement D
—
—
—
0.8
Adjusted Operating Profit
$ 51.8
$ 41.5
$ 103.8
$ 80.7
Adjusted Operating Profit as a % of Sales
20.0 %
17.5 %
20.5 %
17.8 %
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
Adjusted Net Income
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Net Income
$ 53.7
$ 26.4
$ 92.4
$ 44.4
Amortization of acquisition-related and other
intangible assets
17.4
19.0
36.2
37.8
Restructuring costs and asset impairments A
8.9
4.7
16.3
16.1
Fair value adjustment of acquisition-related
inventory B
0.5
1.0
0.9
1.4
Tariff refunds C
(12.6)
—
(12.6)
—
Litigation settlement D
—
—
—
0.8
Acquisition-related expenses E
—
0.1
0.3
0.3
Loss on equity investments F
—
—
2.0
—
Tax effect of adjustments reflected above G
(2.8)
(6.2)
(10.6)
(15.0)
Discrete tax adjustments and other tax-related
adjustments H
1.4
(1.3)
1.6
(0.6)
Adjusted Net Income
$ 66.5
$ 43.7
$ 126.5
$ 85.2
Adjusted Diluted Earnings Per Share
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Diluted Earnings Per Share
$ 0.33
$ 0.16
$ 0.56
$ 0.26
Amortization of acquisition-related and other
intangible assets
0.11
0.11
0.22
0.22
Restructuring costs and asset impairments A
0.05
0.03
0.10
0.09
Fair value adjustment of acquisition-related
inventory B
—
0.01
0.01
0.01
Tariff refunds C
(0.08)
—
(0.08)
—
Litigation settlement D
—
—
—
0.01
Acquisition-related expenses E
—
—
—
—
Loss on equity investments F
—
—
0.01
—
Tax effect of adjustments reflected above G
(0.01)
(0.04)
(0.06)
(0.09)
Discrete tax adjustments and other tax-related
adjustments H
0.01
(0.01)
0.01
—
Adjusted Diluted Earnings Per Share
$ 0.41
$ 0.26
$ 0.77
$ 0.50
Adjusted EBITDA
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Net Income
$ 53.7
$ 26.4
$ 92.4
$ 44.4
Interest expense, net
8.7
8.0
16.1
17.3
Income tax expense
20.7
14.3
34.2
25.3
Depreciation
10.4
10.8
20.8
19.9
Amortization of acquisition-related and other
intangible assets
17.4
19.0
36.2
37.8
Restructuring costs and asset impairments A
8.9
4.7
16.3
16.1
Fair value adjustment of acquisition-related
inventory B
0.5
1.0
0.9
1.4
Tariff refunds C
(12.6)
—
(12.6)
—
Litigation settlement D
—
—
—
0.8
Acquisition-related expenses E
—
0.1
0.3
0.3
Loss on equity investments F
—
—
2.0
—
Adjusted EBITDA
$ 107.7
$ 84.3
$ 206.6
$ 163.3
Adjusted EBITDA as a % of Sales
14.7 %
12.4 %
14.4 %
12.6 %
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
Core Sales Growth 1
Consolidated
% Change Three Month
Period Ended July 3, 2026 vs.
Comparable 2025 Period
% Change Six Month Period
Ended July 3, 2026 vs.
Comparable 2025 Period
Total sales growth
7.1 %
10.5 %
Plus the impact of:
Acquisitions
(0.5) %
(0.6) %
Currency exchange rates
(1.6) %
(2.8) %
Core Sales Growth
5.0 %
7.1 %
Specialty Products & Technologies
Total sales growth
5.8 %
9.9 %
Plus the impact of:
Acquisitions
(0.8) %
(0.9) %
Currency exchange rates
(1.9) %
(3.4) %
Core Sales Growth
3.1 %
5.6 %
Equipment & Consumables
Total sales growth
9.5 %
11.8 %
Plus the impact of:
Currency exchange rates
(1.0) %
(1.9) %
Core Sales Growth
8.5 %
9.9 %
1
We use the term "core sales" to refer to GAAP revenue excluding (1) sales from acquired businesses recorded prior to the first anniversary of the acquisition ("acquisitions"), (2) sales from discontinued products and (3) the impact of currency translation. Sales from discontinued products includes major brands or products that Envista has made the decision to discontinue as part of a portfolio restructuring. Discontinued brands or products consist of those which Envista (1) is no longer manufacturing, (2) is no longer investing in the research or development of, and (3) expects to discontinue all significant sales within one year from the decision date to discontinue. The portion of sales attributable to discontinued brands or products is calculated as the net decline of the applicable discontinued brand or product from period-to-period. The portion of GAAP revenue attributable to currency exchange rates is calculated as the difference between (a) the period-to-period change in sales and (b) the period-to-period change in sales after applying current period foreign exchange rates to the prior year period. We use the term "core sales growth" to refer to the measure of comparing current period core sales with the corresponding period of the prior year.During the first quarter of 2026, we updated our methodology for how we calculate changes in the sales price from period to period. Changes in sales prices are now calculated by comparing the current quarter sales prices to the full year sales price average from the prior year as it better reflects pricing trends over time.
Reconciliation of Operating Cash Flows to Free Cash Flow
Three Months Ended
Six Months Ended
July 3, 2026
June 27, 2025
July 3, 2026
June 27, 2025
Net operating cash (used in) provided by
operating activities
$ 119.2
$ 88.7
$ 115.9
$ 89.0
Less: payments for additions to property, plant
and equipment (capital expenditures)
(14.9)
(12.3)
(27.4)
(18.2)
Plus: proceeds from sales of property, plant
and equipment
0.8
—
0.9
0.5
Free Cash Flow (FCF)
$ 105.1
$ 76.4
$ 89.4
$ 71.3
FCF to Adjusted Net Income Conversion Ratio
158.0 %
174.8 %
70.7 %
83.7 %
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
ENVISTA HOLDINGS CORPORATION
NOTES TO RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)
A We exclude impairment of certain long-lived assets, executive transition costs, and cost incurred pursuant to discrete restructuring plans.
B Represents the fair value adjustment related to inventory acquired in connection with acquisitions.
C Represents the U.S. Supreme Court's ruling to refund tariffs imposed under the International Emergency Economic Powers Act.
D Represents the settlement of certain litigation matters.
E Represents acquisition-related transaction expenses and integration costs with respect to business combinations.
F Represents losses on equity investments.
G This line item represents the aggregate tax effect of all pretax adjustments reflected in the preceding line items of the table using each adjustment's applicable tax rate, including the effect of interim tax accounting requirements of Accounting Standards Codification Topic 740 Income Taxes.
H Discrete tax matters primarily relate to excess tax benefits from stock-based compensation, changes in estimates associated with prior period uncertain tax positions and audit settlements, tax benefits resulting from a change in law, and changes in determination of realization of certain deferred tax assets.
Statement Regarding Non-GAAP Measures
Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Envista Holdings Corporation's ("Envista" or the "Company") results that, when reconciled to the corresponding GAAP measure, help our investors to:
with respect to Core Sales, identify underlying growth trends in Envista's business and compare Envista's revenue performance with prior and future periods and to Envista's peers; with respect to Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Net Income, Adjusted Diluted Earnings Per Share and Adjusted EBITDA, understand the long-term profitability trends of Envista's business and compare Envista's profitability to prior and future periods and to Envista's peers; with respect to Adjusted EBITDA, help investors understand operational factors associated with Envista's financial performance because it excludes the following from consideration: interest, taxes, depreciation, amortization, and infrequent or unusual losses or gains such as goodwill impairment charges or nonrecurring and restructuring charges. Management uses Adjusted EBITDA, as a supplemental measure for assessing operating performance in conjunction with related GAAP amounts. In addition, Adjusted EBITDA is used in connection with operating decisions, strategic planning, annual budgeting, evaluating Company performance and comparing operating results with historical periods and with industry peer companies; and with respect to Free Cash Flow (the "FCF Measure"), understand Envista's ability to generate cash without external financings, in order to invest and grow its business through acquisitions and other strategic opportunities. A limitation of free cash flow is that it does not take into account the Company's debt service requirements and other non-discretionary expenditures, and as a result the entire Free Cash Flow amount is not necessarily available for discretionary expenditures. Management uses these non-GAAP measures to evaluate the Company's operating and financial performance.
The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:
With respect to Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Net Income, Adjusted Diluted Earnings Per Share and Adjusted EBITDA: We exclude amortization of acquisition-related and other intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition's purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe, however, that it is important for investors to understand that such intangible assets contribute to revenue generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. With respect to the other items excluded from Adjusted Gross Profit, Adjusted Net Income, Adjusted Operating Profit, Adjusted Diluted Earnings Per Share and Adjusted EBITDA, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Envista's commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. With respect to core sales, we exclude (1) the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult, (2) sales from discontinued products because discontinued products do not have a continuing contribution to operations and management believes that excluding such items provides investors with a means of evaluating our on-going operations and facilitates comparisons to our peers, and (3) the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends. With respect to the FCF Measure, we adjust for payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to arrive at the amount of operating cash flow for the period that remains after accounting for the Company's capital expenditure requirements. SOURCE Envista Holdings Corporation
Envista (NVST) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") today announced that the company will hold an Investor Day on Thursday, September 17, from 9:00 a.m. to noon EDT. This event will include a management presentation followed by a question-and-answer session.
The event and corresponding presentation will be webcast live and also available for replay afterwards by visiting the Events and Presentations section of investors.envistaco.com.
In-person attendance requires advanced registration. Those interested in attending the event in person can contact [email protected] for more information.
ABOUT ENVISTA HOLDINGS CORPORATION
Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years. Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System. Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future. Learn more at http://envistaco.com.
FOR FURTHER INFORMATION
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
Telephone: (424) 350-5259
[email protected]
Key Takeaways Envista posted positive first-quarter 2026 growth across major businesses and expanded margins.NVST strengthened its dental portfolio with the Versah acquisition and continued product launches.Envista faces tariff costs, China uncertainty and foreign exchange risks despite developed market strength. Envista (NVST - Free Report) is well-poised for growth in the coming quarters, supported by the continued execution of its three strategic priorities. Targeted acquisitions further enhance the company’s product portfolio and market position. It also benefits from strong momentum in the international markets while deepening channel penetration. Meanwhile, adverse macroeconomic impacts and currency fluctuations raise concerns for Envista’s operations.
Over the past year, this Zacks Rank #3 (Hold) stock has risen 24.2% against the 28% decline of the industry and 23.2% rise of the S&P 500 composite.
The leading optical retailer has a market capitalization of $4.41 billion. The company’s earnings yield of 5.2% is well ahead of the industry’s 3.2% yield. In the trailing four quarters, Envista delivered an average earnings surprise of 15.43%.
Factors Supporting NVST's GrowthProgress With Strategic Priorities: Envista continues to execute on its strategy built around three areas: growth, operations and people. In the first quarter of 2026, all major businesses delivered positive growth, with 8.4% core growth in the Specialty Products & Technologies segment and 11.5% core growth in the Equipment and Consumables segment. The company has been reinvesting to support durable share gains, with sales and marketing and R&D both up double digits and new products central to results. Recent launches included Nobel S Series in implants, the Spark clear aligner launch in Japan and DEXIS software enhancements that add AI-driven workflow and diagnostics tools.
Image Source: Zacks Investment Research
The Envista Business System (“EBS”) helped drive gross margin expansion of 100 basis points and adjusted EBITDA margin growth of 120 basis points. Tariff costs increased $11 million from the prior year but were offset by supply-chain, G&A and pricing initiatives. Simultaneously, Envista is advancing its continuous improvement culture, supported by steady gains in employee engagement and talent development. The company also served 3,700 patients through the Envista Smile Project.
Value-Adding Acquisitions in Core Dental Categories: Envista continues to use M&A to broaden its clinical offering and strengthen go-to-market positions in attractive dental segments.
In first-quarter 2026, NVST acquired Versah for about $54.7 million, adding the Densah Burs system used for osseodensification, a technique intended to improve osteointegration in certain implant indications. Management expects the deal to be accretive across growth, margins and EPS, and it described synergy through Envista’s existing clinical education and commercial channels. This builds on prior acquisitions that expanded implants and imaging, including Osteogenics and the Carestream intraoral scanner business that now operates within the DEXIS portfolio and supports a more competitive implants platform over time.
International Reach and Channel Expansion: Developed markets were the key growth engine in first-quarter 2026, with North America and Europe both delivering double-digit gains. Developing markets are growing in the high single digits, excluding softness in China tied to policy uncertainty. The Spark launch in Japan adds a new growth vector in a sizable aligner market where the company already has strong orthodontic relationships, creating a cross-sell opportunity into clear aligners. Management also highlighted continued progress with DSOs and clinician education as levers to deepen penetration.
Factors Weighing on EnvistaMacro and Policy Headwinds: Management continues to flag global economic uncertainty alongside geopolitical volatility, which can weigh on dental utilization and purchasing cycles. China remains a source of uncertainty for the implants business as channel partners continue to adjust inventory levels ahead of the anticipated volume-based procurement (VBP) process, which management expects to begin between the second and third quarters. Tariffs also remain a cost headwind. First-quarter 2026 adjusted EBITDA reflected a $11 million year-over-year increase in tariff costs, with similar quarterly levels anticipated through 2026.
Foreign Exchange and Global Exposure: In the first quarter of 2026, 52.7% of Envista’s revenues came from customers outside the United States, exposing sales, margins and cash flow to currency fluctuations and regional demand variability. While balance sheet hedging has reduced quarter-to-quarter volatility compared with the prior year, foreign exchange movements continue to affect performance and can influence reported results. Regional disruptions, including conflicts in the Middle East and evolving conditions in China, add complexity to planning and may at times offset strength in developed markets.
NVST Stock Estimate TrendThe Zacks Consensus Estimate for Envista’s 2026 earnings per share (EPS) has remained constant at $1.42 in the past 60 days.
The Zacks Consensus Estimate for the company’s 2026 revenues is pegged at $2.86 billion. This suggests a 5.2% increase from the year-ago reported number.
Key PicksSome better-ranked stocks in the broader medical space are IDEXX Laboratories (IDXX - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .
IDEXX Laboratories has an earnings yield of 2.6% compared to the industry’s negative 3% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. IDXX shares have rallied 2.7% against the industry’s 8.2% decline over the past year.
IDXX carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Align Technology, carrying a Zacks Rank #2, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 5.5% growth. Shares of the company have dipped 14.5% against the industry’s 10.5% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.
Integra LifeSciences, carrying a Zacks Rank #2, has an earnings yield of 13.7% against the industry’s negative 3% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 31.4% against the industry’s 8.2% decline over the past year.
, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") will report financial results for its second quarter 2026 on Wednesday, August 5, 2026. Envista will discuss these results on a conference call on the same day beginning at 2:00 PM PT and lasting approximately one hour.
The call and the accompanying slide presentation will be webcast on the "Investors" section of Envista's website, www.envistaco.com. A replay of the webcast will be available shortly after the conclusion of the presentation and will remain available for one year. You can access the conference call by dialing 1-800-836-8184 within the U.S. or +1 646-357-8785 outside the U.S. a few minutes before 2:00 PM PT and referencing Conference ID #73468.
Envista's earnings press release, the webcast slides, and other related presentation materials will be posted to the "Investors" section of Envista's website before the conference call and will remain available following the call.
ABOUT ENVISTA HOLDINGS CORPORATION
Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years. Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System. Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future. Learn more at http://envistaco.com.
FOR FURTHER INFORMATION
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
Telephone: (424) 350-5259
[email protected]
Key Takeaways Envista posted positive growth across major businesses in Q1 2026, led by key dental segments.NVST expanded margins despite higher tariff costs, aided by pricing and supply-chain actions.Envista acquired Versah and launched new implant, aligner and AI-enhanced dental solutions. Envista (NVST - Free Report) shares have shown impressive momentum over the past 12 months, with shares rising 37.1%. The stock has outpaced the industry’s 30.3% fall and the S&P 500 Composite’s 28.2% increase.
Carrying a Zacks Rank #3 (Hold) at present, the global dental product company continues to advance its three core priorities. New product innovation is playing a key role in its accelerating growth. Envista’s value-adding acquisitions in core dental categories and favorable solvency are also highly promising.
Headquartered in Brea, CA, Envista Holdings is a global family of more than 30 dental brands, including Nobel Biocare, Ormco, DEXIS and Kerr. The company’s diversified portfolio of solutions covers a broad range of dentists' clinical needs for diagnosing, treating and preventing dental conditions as well as improving the aesthetics of the human smile. Envista serves dental professionals in more than 130 countries through one of the largest commercial organizations in the dental products industry and through distribution partners.
Factors Supporting NVST’s Price RallyThe rally in the company’s share price can be linked to its ongoing strategic progress around three areas — growth, operations and people. The growth priority is built on four pillars. In the first quarter of 2026, all major businesses delivered positive growth, with 8.4% core growth in the Specialty Products & Technologies segment and 11.5% core growth in the Equipment and Consumables segment. The company has been reinvesting to support durable share gains, with sales and marketing and R&D both up double digits and new products central to results. Recent launches included Nobel S Series in implants, the Spark clear aligner launch in Japan and DEXIS software enhancements that add AI-driven workflow and diagnostics tools.
Image Source: Zacks Investment Research
The Envista Business System continued to deliver broad-based operational benefits, supporting gross margin expansion of 100 basis points and adjusted EBITDA margin growth of 120 basis points. Despite a $11 million year-over-year increase in tariff costs, Envista successfully offset the impact through supply chain, G&A and pricing initiatives. The company is advancing its continuous improvement culture, supported by steady gains in employee engagement and talent development.
Developed markets were the key growth engine in first-quarter 2026, with North America and Europe both delivering double-digit gains. Developing markets grew at a high-single-digit rate, excluding softness in China tied to policy uncertainty. The Spark launch in Japan adds a new growth vector in a sizable aligner market where the company already has strong orthodontic relationships, creating a cross-sell opportunity into clear aligners. Management also highlighted continued progress with DSOs and clinician education as levers to deepen penetration.
Envista continues to use M&A to broaden its clinical offering and strengthen go-to-market positions in attractive dental segments. In first-quarter 2026, it acquired Versah for about $54.7 million, adding the Densah Burs system used for osseodensification — a technique designed to improve osteointegration in certain implant indications. This builds on prior acquisitions that expanded implants and imaging, including Osteogenics and the Carestream intraoral scanner business that now operates within the DEXIS portfolio, and supports a more competitive implants platform over time.
The company remains financially strong. As of April 3, 2026, Envista held $1.08 billion of cash and cash equivalents, while current debt was nil. Long-term debt was $1.44 billion, down from $1.45 billion in the previous quarter.
What Ails NVST?China remains a source of uncertainty for the implants business as channel partners continue to adjust inventory levels ahead of the anticipated volume-based procurement process, which management expects to begin between the second and third quarters. Tariffs also remain a cost headwind.
A Glance at NVST’s EstimatesThe Zacks Consensus Estimate for NVST’s 2026 and 2027 earnings per share (EPS) is expected to increase 19.3% and 9.3% year over year, respectively, to $1.42 and $1.55. In the past 60 days, the consensus mark for the company's 2026 EPS has risen 2 cents.
Revenues for 2026 are projected to grow 5.2% to $2.86 billion and another 3.4% to $2.96 billion in 2027.
Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Align Technology (ALGN - Free Report) and Integra LifeSciences (IART - Free Report) .
Globus Medical has an earnings yield of 5.9% compared to the industry’s negative 3.5% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 26.3%. GMED shares have rallied 36.6% against the industry’s 5.6% fall over the past year.
GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technology, sporting a Zacks Rank #1, has an estimated long-term earnings growth rate of 10.3% compared with the industry’s 9.6% growth. Shares of the company have risen 0.2% compared with the industry’s 7.8% growth. ALGN’s earnings outpaced estimates in three of the trailing four quarters and missed on one occasion, the average surprise being 7.8%.
Integra LifeSciences, carrying a Zacks Rank #2 (Buy), has an earnings yield of 13.6% against the industry’s negative 3.5% yield. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average surprise being 16.7%. IART shares have rallied 51.5% against the industry’s 5.1% decline over the past year.
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Based on their value, growth, and momentum characteristics, each stock is assigned a rating of A, B, C, D, or F. The better the score, the better chance the stock will outperform; an A is better than a B, a B is better than a C, and so on.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum trading is all about taking advantage of upward or downward trends in a stock's price or earnings outlook, and these investors live by the saying "the trend is your friend." The Momentum Style Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.
VGM ScoreIf you like to use all three kinds of investing, then the VGM Score is for you. It's a combination of all Style Scores, and is an important indicator to use with the Zacks Rank. The VGM Score rates each stock on their shared weighted styles, narrowing down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
It's highly successful, with #1 (Strong Buy) stocks producing an unmatched +23.93% average annual return since 1988. That's more than double the S&P 500. But because of the large number of stocks we rate, there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
This totals more than 800 top-rated stocks, and it can be overwhelming to try and pick the best stocks for you and your portfolio.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
A stock with a #4 (Sell) or #5 (Strong Sell) rating, for instance, even one with Scores of A and B, will still have a declining earnings forecast, and a greater chance its share price will fall too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #1 (Strong Buy) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 18.35; value investors should take notice.
Seven analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.15 to $1.41 per share. NVST also boasts an average earnings surprise of +16.4%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.
, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) ("Envista") will report financial results for its first quarter 2026 on Wednesday, May 6, 2026. Envista will discuss these results on a conference call on the same day beginning at 2:00 PM PT and lasting approximately one hour.
The call and the accompanying slide presentation will be webcast on the "Investors" section of Envista's website, www.envistaco.com. A replay of the webcast will be available shortly after the conclusion of the presentation and will remain available for one year. You can access the conference call by dialing 1-800-836-8184 within the U.S. or +1 646-357-8785 outside the U.S. a few minutes before 2:00 PM PT and referencing Conference ID #51461.
Envista's earnings press release, the webcast slides, and other related presentation materials will be posted to the "Investors" section of Envista's website before the conference call and will remain available following the call.
ABOUT ENVISTA HOLDINGS CORPORATION
Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years. Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System. Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future. Learn more at http://envistaco.com.
FOR FURTHER INFORMATION
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
Telephone: (424) 350-5259
[email protected]
Cwm LLC boosted its stake in Envista Holdings Corporation (NYSE:NVST – Free Report) by 55.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,217 shares of the company’s stock after buying an additional 25,905 shares during the period. Cwm LLC’s holdings in Envista were worth $1,568,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in NVST. Holocene Advisors LP acquired a new position in shares of Envista during the second quarter valued at $43,936,000. Alliancebernstein L.P. increased its holdings in shares of Envista by 34.0% during the second quarter. Alliancebernstein L.P. now owns 6,098,445 shares of the company’s stock valued at $119,164,000 after purchasing an additional 1,547,656 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Envista during the third quarter valued at $24,260,000. Integral Health Asset Management LLC acquired a new position in shares of Envista during the third quarter valued at $11,204,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Envista by 22.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,905,149 shares of the company’s stock valued at $59,178,000 after purchasing an additional 523,949 shares during the period.
Wall Street Analysts Forecast Growth NVST has been the topic of a number of research analyst reports. Robert W. Baird set a $30.00 price target on Envista in a report on Friday, February 6th. Wall Street Zen raised Envista from a “buy” rating to a “strong-buy” rating in a report on Monday, January 26th. Stifel Nicolaus set a $31.00 price target on Envista in a report on Friday, February 6th. Wells Fargo & Company raised their price target on Envista from $21.00 to $26.00 and gave the company an “equal weight” rating in a report on Friday, February 6th. Finally, Morgan Stanley raised their price target on Envista from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday. Seven research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, Envista presently has an average rating of “Hold” and a consensus price target of $27.85.
Get Our Latest Stock Analysis on Envista
Insider Transactions at Envista In related news, SVP Mischa Reis sold 9,675 shares of Envista stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $30.00, for a total transaction of $290,250.00. Following the transaction, the senior vice president directly owned 32,382 shares of the company’s stock, valued at $971,460. The trade was a 23.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.99% of the stock is currently owned by insiders.
Envista Price Performance NYSE:NVST opened at $26.84 on Friday. The business’s 50-day moving average price is $26.91 and its 200 day moving average price is $23.72. The firm has a market cap of $4.37 billion, a P/E ratio of 95.84, a PEG ratio of 1.85 and a beta of 0.98. Envista Holdings Corporation has a 52-week low of $15.49 and a 52-week high of $30.42. The company has a quick ratio of 2.04, a current ratio of 2.38 and a debt-to-equity ratio of 0.47.
Envista (NYSE:NVST – Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.06. Envista had a return on equity of 6.54% and a net margin of 1.73%.The company’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.24 EPS. Envista has set its FY 2026 guidance at 1.350-1.450 EPS. As a group, sell-side analysts predict that Envista Holdings Corporation will post 1.4 earnings per share for the current fiscal year.
Envista Profile (Free Report)
Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company’s offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.
Envista’s product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.
Further Reading Five stocks we like better than Envista Want to see what other hedge funds are holding NVST? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Envista Holdings Corporation (NYSE:NVST – Free Report).
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Stagezero Life Sciences (OTCMKTS:SZLSF – Get Free Report) and Envista (NYSE:NVST – Get Free Report) are both medical companies, but which is the better business? We will contrast the two companies based on the strength of their profitability, institutional ownership, analyst recommendations, risk, dividends, earnings and valuation.
Valuation & Earnings This table compares Stagezero Life Sciences and Envista”s revenue, earnings per share (EPS) and valuation.
Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Stagezero Life Sciences N/A N/A N/A ($0.01) -0.51 Envista $2.72 billion 1.61 $47.00 million $0.28 95.84 Envista has higher revenue and earnings than Stagezero Life Sciences. Stagezero Life Sciences is trading at a lower price-to-earnings ratio than Envista, indicating that it is currently the more affordable of the two stocks.
Risk & Volatility Stagezero Life Sciences has a beta of -4.43, indicating that its stock price is 543% less volatile than the S&P 500. Comparatively, Envista has a beta of 0.98, indicating that its stock price is 2% less volatile than the S&P 500.
Profitability This table compares Stagezero Life Sciences and Envista’s net margins, return on equity and return on assets.
Net Margins Return on Equity Return on Assets Stagezero Life Sciences N/A N/A N/A Envista 1.73% 6.54% 3.60% Analyst Ratings This is a breakdown of recent ratings and target prices for Stagezero Life Sciences and Envista, as reported by MarketBeat.
Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Stagezero Life Sciences 0 0 0 0 0.00 Envista 0 9 7 0 2.44 Envista has a consensus price target of $27.85, suggesting a potential upside of 3.77%. Given Envista’s stronger consensus rating and higher probable upside, analysts plainly believe Envista is more favorable than Stagezero Life Sciences.
Summary Envista beats Stagezero Life Sciences on 10 of the 10 factors compared between the two stocks.
About Stagezero Life Sciences (Get Free Report)
StageZero Life Sciences Ltd., a vertically integrated healthcare company, develops and commercializes proprietary molecular diagnostic tests for the early detection of diseases and personalized health management with a primary focus on cancer-related indications in North America and Western Europe. Its proprietary platform technology is Sentinel Principle, which identifies RNA-based biomarkers from whole blood. The company’s lead product is Aristotle, a mRNA-based multi-cancer panel test for for the detection of multiple discrete cancers from a single sample of blood. It also offers ColonSentry, a blood test to determine an individual’s current risk for having colorectal cancer; Prostate Health Index, a screening test for prostate cancer; BreastSentry, a test to determine a woman’s risk for developing breast cancer; and COVID-19 Tests. The company is based in Richmond Hill, Canada.
About Envista (Get Free Report)
Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, markets, and sells dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies, and Equipment & Consumables. The Specialty Products & Technologies segment offers dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists and periodontists, and general dentist; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products. This segment also provides software packages, which include DTX Studio Implant; DTX Studio Lab; and DTX Studio Clinic, a software package offered with its imaging products. It offers its products under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, Ormco, Spark, Orascoptic, Damon, Insignia, AOA brands. The Equipment & Consumables segment provides dental equipment and supplies, including digital imaging systems, software, and other visualization/magnification systems; endodontic systems and related products; restorative materials, rotary burs, impression materials, bonding agents, and cements; and infection prevention products. This segment offers its products under the Dexis, DTX Studio, Kerr, Metrex, Total Care, Pentron, Optibond, Harmonize, Sonicfill, Sybron Endo, and CaviWipes to dental offices, clinics, and hospitals. Envista Holdings Corporation was incorporated in 2018 and is headquartered in Brea, California.
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, /PRNewswire/ -- Envista Holdings Corporation (NYSE: NVST) today announced results for the quarter ended April 3, 2026.
"We delivered a good start to 2026, with first quarter results reflecting continued strong execution and progress in support of our strategic priorities," said Paul Keel, CEO. "We delivered growth across all our major businesses, driven by customer engagement and new product commercialization. Our 9.5% core revenue growth converted to 25% adjusted EBITDA and 50% EPS growth, while also supporting double-digit increases in R&D and Sales & Marketing investment. With momentum continuing, we are reaffirming our full-year guidance and announcing an incremental $300 million share repurchase program."
First Quarter Financial Highlights
Sales were $706 million, with core sales growth of 9.5% over the first quarter of 2025. GAAP diluted EPS of $0.23 and adjusted diluted EPS of $0.36 (+50% year-on-year) GAAP Net Income was $39 million and adjusted EBITDA was $99 million (+25% year-on-year), with an adjusted EBITDA margin of 14.0% (+120 bps year-on-year) First Quarter Business Highlights
Growth: In the context of macro uncertainty, all major businesses delivered positive growth, with 8.4% core growth in our Specialty Products & Technologies segment and 11.5% core growth in our Equipment and Consumables segment. Operations: Ongoing broad-based contributions from the Envista Business System (EBS) supporting 100 bps of Gross Margin and 120 bps of adjusted EBITDA margin expansion. People: Continued gains in employee engagement and talent development; 3700 patients served through our charitable Envista Smile Project. Net Income, EBITDA, and EPS (in millions, except per share amounts):
Three Months Ended
April 3, 2026
March 28, 2025
GAAP Net Income
$ 39
$ 18
Adjusted Net Income
$ 60
$ 42
Adjusted EBITDA
$ 99
$ 79
GAAP Diluted Earnings Per Share
$ 0.23
$ 0.10
Adjusted Diluted Earnings Per Share
$ 0.36
$ 0.24
Cash Flow:
Operating cash flow for the first quarter of 2026 was negative $3 million and free cash flow was negative $16 million, compared to $0 million and negative $5 million in the first quarter of 2025, respectively.
Share Repurchases:
During the quarter ended April 3, 2026, we repurchased 1.6 million shares for approximately $43 million. At the end of the quarter, we had approximately $41 million remaining repurchase capacity under our stock repurchase program.
On May 5, 2026, our Board of Directors authorized a new stock repurchase program under which we may repurchase an incremental $300 million of our outstanding common stock through December 31, 2029.
Outlook:
We are maintaining the following guidance for the full year 2026:
2026 Guidance
Core Sales Growth
2% to 4%
Adjusted EBITDA Growth
7% to 13%
Adjusted Diluted Earnings Per Share
$1.35 to $1.45
Free Cash Conversion
~100%
Please note, we do not provide forward-looking estimates on a GAAP basis as certain information is not available and cannot be reasonably estimated.
We will discuss our quarterly results and provide details on our outlook for 2026 during an investor conference call on May 6, 2026, starting at 2:00 P.M. PT. The call and an accompanying slide presentation will be webcast on the "Investors" section of our website, www.envistaco.com, under the subheading "Events & Presentations." A replay of the webcast will be available in the same section of our website shortly after the conclusion of the presentation and will remain available until the next quarterly earnings call.
The conference call can be accessed by dialing 800-836-8184 within the U.S. or +1 646-357-8785 outside the U.S. a few minutes before 2:00 PM PT and referencing conference ID #51461. A replay of the conference call will be available shortly after the conclusion of the call. You can access the replay dial-in information on the "Investors" section of our website under the subheading "Events & Presentations." Presentation materials relating to our results have been posted to the "Investors" section of our website under the subheading "Quarterly Earnings".
ABOUT ENVISTA
Envista is a global leader in the dental industry, uniting more than 30 trusted brands—including DEXIS, Kerr, Nobel Biocare, and Ormco—under one mission: partnering with dental professionals to improve patients' lives. With a heritage of category-defining innovation, our brands have shaped modern dentistry: Nobel Biocare introduced the first dental implant, Ormco is a pioneer in both traditional and digital orthodontics, DEXIS has long been at the forefront of 2D, 3D and intraoral imaging, and Kerr has supported clinicians for over 135 years. Our high-performing culture is underpinned by our CIRCLe Values and the Envista Business System. Guided by these, we deliver a comprehensive portfolio of technologies, consumables, and services that empower clinicians to provide confident, efficient care—today and for the future. Learn more at http://envistaco.com.
NON-GAAP MEASURES
All "Adjusted" amounts including core sales growth and free cash flow are non-GAAP items. Calculations of these measures, the reasons why we believe these measures provide useful information to investors, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these non-GAAP measures are included in the attached supplemental schedules. We do not reconcile forward looking non-GAAP measures to the comparable GAAP measures because of the inherent difficulty in predicting and estimating the future impact and timing of currency translation, acquisitions, discontinued products, and any other potential adjustments which would be reflected in any forecasted GAAP measure.
FORWARD-LOOKING STATEMENTS
Certain statements in this press release are "forward-looking" statements within the meaning of the federal securities laws. There are a number of important factors that could cause actual results, developments and business decisions to differ materially from those suggested or indicated by such forward-looking statements and you should not place undue reliance on any such forward-looking statements. These factors include, among other things, the conditions in the U.S. and global economy, the impact of inflation and increasing interest rates, slower economic growth or recession, international economic, political, legal, compliance and business factors, the markets served by us and the financial markets, the impact of our debt obligations on our operations and liquidity, developments and uncertainties in trade policies and regulations including tariffs or other impositions on imported goods, contractions or growth rates and cyclicality of markets we serve, risks relating to product manufacturing, commodity costs and surcharges, our ability to adjust purchases and manufacturing capacity to reflect market conditions, reliance on sole or limited sources of supply, disruptions relating to war (including supply chain disruptions), terrorism, climate change, widespread protests and civil unrest, man-made and natural disasters, public health issues and other events, security breaches or other disruptions of our information technology systems or violations of data privacy laws, security breaches or other disruptions affecting our external information technology contractors, vendors or other service providers, our growing use of artificial intelligence systems to automate processes and analyze data, fluctuations in inventory of our distributors and customers, loss of a key distributor, our relationships with and the performance of our channel partners, competition, our ability to develop and successfully market new products and services, our ability to attract, develop and retain our key personnel, the potential for improper conduct by our employees, agents or business partners, our compliance with applicable laws and regulations (including regulations relating to medical devices and the health care industry), the results of our clinical trials and perceptions thereof, penalties associated with any off-label marketing of our products, modifications to our products that require new marketing clearances or authorizations, our ability to effectively address cost reductions and other changes in the health care industry, our ability to successfully identify and consummate appropriate acquisitions and strategic investments, our ability to integrate the businesses we acquire and achieve the anticipated benefits of such acquisitions, contingent liabilities relating to acquisitions, investments and divestitures, our ability to adequately protect our intellectual property, the impact of our restructuring activities on our ability to grow, risks relating to impairment charges for our goodwill and intangible assets, changes in accounting standards and subjective assumptions, estimates and judgment by management, currency exchange rates, changes in tax laws applicable to multinational companies, litigation and other contingent liabilities including intellectual property and environmental, health and safety matters, risks relating to product, service or software defects, the impact of regulation on demand for our products and services, and labor matters. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in our SEC filings, including our Annual Report on Form 10-K for fiscal year 2025 and our Quarterly reports on Form 10-Q. These forward-looking statements speak only as of the date of this press release and except to the extent required by applicable law, we do not assume any obligation to update or revise any forward-looking statement, whether as a result of new information, future events and developments or otherwise.
CONTACT
Jim Gustafson
Vice President, Investor Relations
Envista Holdings Corporation
200 S. Kraemer Blvd., Building E
Brea, CA 92821
[email protected]
ENVISTA HOLDINGS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
($ and shares in millions, except per share amounts)
Three Months Ended
April 3, 2026
March 28, 2025
Sales
$ 705.5
$ 616.9
Cost of sales
315.4
280.9
Gross profit
390.1
336.0
Operating expenses:
Selling, general and administrative
297.6
271.7
Research and development
30.0
25.3
Operating profit
62.5
39.0
Nonoperating (expense) income:
Other expense, net
(2.9)
(0.7)
Interest expense, net
(7.4)
(9.3)
Income before income taxes
52.2
29.0
Income tax expense
13.5
11.0
Net income
$ 38.7
$ 18.0
Earnings per share:
Earnings - basic
$ 0.24
$ 0.10
Earnings - diluted
$ 0.23
$ 0.10
Average common stock and common equivalent shares outstanding:
Basic
163.9
172.4
Diluted
166.4
173.6
ENVISTA HOLDINGS CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited)
($ in millions, except share amounts)
As of
April 3, 2026
December 31, 2025
ASSETS
Current assets:
Cash and cash equivalents
$ 1,082.8
$ 1,211.7
Trade accounts receivable, less allowance for credit losses of $23.7 and $22.5,
respectively
436.6
429.6
Inventories, net
300.3
288.1
Prepaid expenses and other current assets
99.4
97.2
Total current assets
1,919.1
2,026.6
Property, plant and equipment, net
298.7
296.8
Operating lease right-of-use assets
143.6
142.1
Other long-term assets
223.8
228.1
Goodwill
2,359.8
2,358.2
Other intangible assets, net
633.0
627.2
Total assets
$ 5,578.0
$ 5,679.0
LIABILITIES AND EQUITY
Current liabilities:
Trade accounts payable
170.0
191.6
Accrued expenses and other liabilities
577.9
622.0
Operating lease liabilities
38.7
39.0
Total current liabilities
786.6
852.6
Operating lease liabilities
111.4
110.4
Other long-term liabilities
161.4
161.4
Long-term debt
1,439.1
1,448.3
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, 15.0 million shares authorized; no shares issued
or outstanding at April 3, 2026 and December 31, 2025
—
—
Common stock, $0.01 par value, 500.0 million shares authorized; 176.2 million
shares issued and 162.9 million shares outstanding at April 3, 2026; 175.4 million
shares issued and 163.8 million shares outstanding at December 31, 2025
1.8
1.8
Treasury stock at cost; 13.3 million shares and 11.6 million shares at April 3, 2026
and December 31, 2025, respectively
(273.5)
(224.5)
Additional paid-in capital
3,896.0
3,882.6
Accumulated deficit
(401.7)
(440.4)
Accumulated other comprehensive loss
(143.1)
(113.2)
Total stockholders' equity
3,079.5
3,106.3
Total liabilities and stockholders' equity
$ 5,578.0
$ 5,679.0
ENVISTA HOLDINGS CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)
($ in millions)
Three Months Ended
April 3, 2026
March 28, 2025
Cash flows from operating activities:
Net income
$ 38.7
$ 18.0
Noncash items:
Depreciation
10.4
9.1
Amortization
18.8
18.8
Allowance for credit losses
4.4
1.3
Stock-based compensation expense
10.2
7.1
Loss on investments in rabbi trust, net
0.9
0.6
Loss on equity investments
2.0
—
Loss on sale of property, plant and equipment
0.1
—
Restructuring charges
—
0.2
Non-cash operating lease costs
9.1
8.4
Amortization of debt discount and issuance costs
1.0
1.1
Change in trade accounts receivable
(13.3)
(21.3)
Change in inventories
(9.6)
(10.1)
Change in trade accounts payable
(21.4)
(15.1)
Change in prepaid expenses and other assets
(3.1)
(7.8)
Change in accrued expenses and other liabilities
(39.8)
0.8
Change in operating lease liabilities
(11.7)
(10.8)
Net cash (used in) provided by operating activities
(3.3)
0.3
Cash flows from investing activities:
Payments for additions to property, plant and equipment
(12.5)
(5.9)
Purchases of investments held in rabbi trust
(3.4)
(0.7)
Proceeds from sale of investments held in rabbi trust
0.5
0.7
Proceeds from sales of property, plant and equipment
0.1
0.5
Acquisitions, net of cash acquired
(54.4)
(3.6)
All other investing activities, net
0.8
0.2
Net cash used in investing activities
(68.9)
(8.8)
Cash flows from financing activities:
Proceeds from stock option exercises
3.5
0.8
Cash paid for treasury stock under the stock repurchase program
(42.7)
(14.6)
Treasury stock purchases related to tax withholding on equity awards
(6.0)
(3.8)
All other financing activities
(0.4)
—
Net cash used in financing activities
(45.6)
(17.6)
Effect of exchange rate changes on cash and cash equivalents
(11.1)
34.3
Net change in cash and cash equivalents
(128.9)
8.2
Beginning balance of cash and cash equivalents
1,211.7
1,069.1
Ending balance of cash and cash equivalents
$ 1,082.8
$ 1,077.3
ENVISTA HOLDINGS CORPORATION
SUMMARY OF FINANCIAL METRICS (Unaudited)
($ in millions, except per share amounts)
GAAP
Three Months Ended
April 3, 2026
March 28, 2025
Gross Profit
$ 390.1
$ 336.0
Operating Profit
$ 62.5
$ 39.0
Net Income
$ 38.7
$ 18.0
Diluted Earnings Per Share
$ 0.23
$ 0.10
Operating Cash Flow
$ (3.3)
$ 0.3
NON-GAAP *
Three Months Ended
April 3, 2026
March 28, 2025
Adjusted Gross Profit
$ 393.6
$ 338.3
Adjusted Operating Profit
$ 89.4
$ 70.6
Adjusted Net Income
$ 60.0
$ 41.5
Adjusted Diluted EPS
$ 0.36
$ 0.24
Adjusted EBITDA
$ 98.9
$ 79.0
Free Cash Flow
$ (15.7)
$ (5.1)
* For information on non-GAAP measures see "Reconciliation of GAAP to Non-GAAP Financial Measures" below. Also see
the accompanying "Notes to Reconciliation of GAAP to Non-GAAP Financial Measures."
ENVISTA HOLDINGS CORPORATION
SEGMENT INFORMATION (Unaudited)
($ in millions)
Three Months Ended
April 3, 2026
March 28, 2025
Sales
Specialty Products & Technologies
$ 457.8
$ 400.3
Equipment & Consumables
247.7
216.6
Total
$ 705.5
$ 616.9
Operating Profit (Loss)
Specialty Products & Technologies
$ 46.5
$ 37.6
Equipment & Consumables
46.8
31.9
Other
(30.8)
(30.5)
Total
$ 62.5
$ 39.0
Operating Margins
Specialty Products & Technologies
10.2 %
9.4 %
Equipment & Consumables
18.9 %
14.7 %
Total
8.9 %
6.3 %
ENVISTA HOLDINGS CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)
($ and shares in millions, except per share amounts)
Adjusted Gross Profit and Adjusted Gross Margin
Three Months Ended
April 3, 2026
March 28, 2025
Gross Profit
$ 390.1
$ 336.0
Restructuring costs and asset impairments A
3.1
1.9
Fair value adjustment of acquisition-related inventory B
Amortization of acquisition-related and other intangible assets
18.8
18.8
Restructuring costs and asset impairments A
7.4
11.4
Fair value adjustment of acquisition-related inventory B
0.4
0.4
Litigation settlement C
—
0.8
Acquisition-related expenses D
0.3
0.2
Adjusted Operating Profit
$ 89.4
$ 70.6
Adjusted Operating Profit as a % of Sales
12.7 %
11.4 %
Specialty Products & Technologies
Operating Profit
$ 46.5
$ 37.6
Amortization of acquisition-related and other intangible assets
15.6
14.6
Restructuring costs and asset impairments A
4.4
4.2
Adjusted Operating Profit
$ 66.5
$ 56.4
Adjusted Operating Profit as a % of Sales
14.5 %
14.1 %
Equipment & Consumables
Operating Profit
$ 46.8
$ 31.9
Amortization of acquisition-related and other intangible assets
3.2
4.2
Restructuring costs and asset impairments A
2.0
2.3
Litigation settlement C
—
0.8
Adjusted Operating Profit
$ 52.0
$ 39.2
Adjusted Operating Profit as a % of Sales
21.0 %
18.1 %
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
Adjusted Net Income
Three Months Ended
April 3, 2026
March 28, 2025
Net Income
$ 38.7
$ 18.0
Amortization of acquisition-related and other intangible assets
18.8
18.8
Restructuring costs and asset impairments A
7.4
11.4
Fair value adjustment of acquisition-related inventory B
0.4
0.4
Litigation settlement C
—
0.8
Acquisition-related expenses D
0.3
0.2
Loss on equity investments E
2.0
—
Tax effect of adjustments reflected above F
(7.8)
(8.8)
Discrete tax adjustments and other tax-related adjustments G
0.2
0.7
Adjusted Net Income
$ 60.0
$ 41.5
Adjusted Diluted Earnings Per Share
Three Months Ended
April 3, 2026
March 28, 2025
Diluted Earnings Per Share
$ 0.23
$ 0.10
Amortization of acquisition-related and other intangible assets
0.11
0.11
Restructuring costs and asset impairments A
0.05
0.07
Fair value adjustment of acquisition-related inventory B
—
—
Litigation settlement C
—
0.01
Acquisition-related expenses D
—
—
Loss on equity investments E
0.01
—
Tax effect of adjustments reflected above F
(0.04)
(0.05)
Discrete tax adjustments and other tax-related adjustments G
—
—
Adjusted Diluted Earnings Per Share
$ 0.36
$ 0.24
Adjusted EBITDA
Three Months Ended
April 3, 2026
March 28, 2025
Net Income
$ 38.7
$ 18.0
Interest expense, net
7.4
9.3
Income tax expense
13.5
11.0
Depreciation
10.4
9.1
Amortization of acquisition-related and other intangible assets
18.8
18.8
Restructuring costs and asset impairments A
7.4
11.4
Fair value adjustment of acquisition-related inventory B
0.4
0.4
Litigation settlement C
—
0.8
Acquisition-related expenses D
0.3
0.2
Loss on equity investments E
2.0
—
Adjusted EBITDA
$ 98.9
$ 79.0
Adjusted EBITDA as a % of Sales
14.0 %
12.8 %
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
Core Sales Growth 1
Consolidated
% Change Three Month
Period Ended April 3, 2026 vs.
Comparable 2025 Period
Total sales growth
14.4 %
Plus the impact of:
Acquisitions
(0.6) %
Currency exchange rates
(4.3) %
Core Sales Growth
9.5 %
Specialty Products & Technologies
Total sales growth
14.4 %
Plus the impact of:
Acquisitions
(0.9) %
Currency exchange rates
(5.1) %
Core Sales Growth
8.4 %
Equipment & Consumables
Total sales growth
14.4 %
Plus the impact of:
Currency exchange rates
(2.9) %
Core Sales Growth
11.5 %
1
We use the term "core sales" to refer to GAAP revenue excluding (1) sales from acquired businesses recorded prior to the first
anniversary of the acquisition ("acquisitions"), (2) sales from discontinued products and (3) the impact of currency translation.
Sales from discontinued products includes major brands or products that Envista has made the decision to discontinue as part
of a portfolio restructuring. Discontinued brands or products consist of those which Envista (1) is no longer manufacturing, (2) is
no longer investing in the research or development of, and (3) expects to discontinue all significant sales within one year from
the decision date to discontinue. The portion of sales attributable to discontinued brands or products is calculated as the net
decline of the applicable discontinued brand or product from period-to-period. The portion of GAAP revenue attributable to
currency exchange rates is calculated as the difference between (a) the period-to-period change in sales and (b) the
period-to-period change in sales after applying current period foreign exchange rates to the prior year period. We use the term
"core sales growth" to refer to the measure of comparing current period core sales with the corresponding period of the prior year.
During the first quarter of 2026, we updated our methodology for how we calculate changes in the sales price from period to
period. Changes in sales prices are now calculated by comparing the current quarter sales prices to the full year sales price
average from the prior year as it better reflects pricing trends over time.
Reconciliation of Operating Cash Flows to Free Cash Flow
Three Months Ended
April 3, 2026
March 28, 2025
Net operating cash (used in) provided by operating activities
$ (3.3)
$ 0.3
Less: payments for additions to property, plant and equipment (capital expenditures)
(12.5)
(5.9)
Plus: proceeds from sales of property, plant and equipment
0.1
0.5
Free Cash Flow (FCF)
$ (15.7)
$ (5.1)
FCF to Adjusted Net Income Conversion Ratio
(26.2) %
(12.3) %
See the accompanying Notes to Reconciliation of GAAP to Non-GAAP Financial Measures
ENVISTA HOLDINGS CORPORATION
NOTES TO RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (UNAUDITED)
A We exclude impairment of certain long-lived assets, executive transition costs, and cost incurred pursuant to discrete restructuring plans.
B Represents the fair value adjustment related to inventory acquired in connection with acquisitions.
C Represents the settlement of certain litigation matters.
D Represents acquisition-related transaction expenses and integration costs with respect to business combinations.
E Represents losses on equity investments.
F This line item represents the aggregate tax effect of all pretax adjustments reflected in the preceding line items of the table using each adjustment's applicable tax rate, including the effect of interim tax accounting requirements of Accounting Standards Codification Topic 740 Income Taxes.
G Discrete tax matters primarily relate to excess tax benefits from stock-based compensation, changes in estimates associated with prior period uncertain tax positions and audit settlements, tax benefits resulting from a change in law, and changes in determination of realization of certain deferred tax assets.
Statement Regarding Non-GAAP Measures
Each of the non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing Envista Holdings Corporation's ("Envista" or the "Company") results that, when reconciled to the corresponding GAAP measure, help our investors to:
with respect to Core Sales, identify underlying growth trends in Envista's business and compare Envista's revenue performance with prior and future periods and to Envista's peers; with respect to Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Net Income, Adjusted Diluted Earnings Per Share and Adjusted EBITDA, understand the long-term profitability trends of Envista's business and compare Envista's profitability to prior and future periods and to Envista's peers; with respect to Adjusted EBITDA, help investors understand operational factors associated with Envista's financial performance because it excludes the following from consideration: interest, taxes, depreciation, amortization, and infrequent or unusual losses or gains such as goodwill impairment charges or nonrecurring and restructuring charges. Management uses Adjusted EBITDA, as a supplemental measure for assessing operating performance in conjunction with related GAAP amounts. In addition, Adjusted EBITDA is used in connection with operating decisions, strategic planning, annual budgeting, evaluating Company performance and comparing operating results with historical periods and with industry peer companies; and with respect to Free Cash Flow (the "FCF Measure"), understand Envista's ability to generate cash without external financings, in order to invest and grow its business through acquisitions and other strategic opportunities. A limitation of free cash flow is that it does not take into account the Company's debt service requirements and other non-discretionary expenditures, and as a result the entire Free Cash Flow amount is not necessarily available for discretionary expenditures. Management uses these non-GAAP measures to evaluate the Company's operating and financial performance.
The items excluded from the non-GAAP measures set forth above have been excluded for the following reasons:
With respect to Adjusted Gross Profit, Adjusted Operating Profit, Adjusted Net Income, Adjusted Diluted Earnings Per Share and Adjusted EBITDA: We exclude amortization of acquisition-related and other intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition's purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe, however, that it is important for investors to understand that such intangible assets contribute to revenue generation and that intangible asset amortization related to past acquisitions will recur in future periods until such intangible assets have been fully amortized. With respect to the other items excluded from Adjusted Gross Profit, Adjusted Net Income, Adjusted Operating Profit, Adjusted Diluted Earnings Per Share and Adjusted EBITDA, we exclude these items because they are of a nature and/or size that occur with inconsistent frequency, occur for reasons that may be unrelated to Envista's commercial performance during the period and/or we believe that such items may obscure underlying business trends and make comparisons of long-term performance difficult. With respect to core sales, we exclude (1) the effect of acquisitions and divested product lines because the timing, size, number and nature of such transactions can vary significantly from period-to-period and between us and our peers, which we believe may obscure underlying business trends and make comparisons of long-term performance difficult, (2) sales from discontinued products because discontinued products do not have a continuing contribution to operations and management believes that excluding such items provides investors with a means of evaluating our on-going operations and facilitates comparisons to our peers, and (3) the impact of currency translation because it is not under management's control, is subject to volatility and can obscure underlying business trends. With respect to the FCF Measure, we adjust for payments for additions to property, plant and equipment (net of the proceeds from capital disposals) to arrive at the amount of operating cash flow for the period that remains after accounting for the Company's capital expenditure requirements. SOURCE Envista Holdings Corporation
Envista (NVST - Free Report) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.24 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +16.13%. A quarter ago, it was expected that this maker of dental products would post earnings of $0.32 per share when it actually produced earnings of $0.38, delivering a surprise of +18.75%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Envista, which belongs to the Zacks Medical - Products industry, posted revenues of $705.5 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 4.75%. This compares to year-ago revenues of $616.9 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Envista shares have added about 20.6% since the beginning of the year versus the S&P 500's gain of 6%.
What's Next for Envista?While Envista has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Envista was unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.33 on $712.51 million in revenues for the coming quarter and $1.41 on $2.84 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Medical - Products is currently in the bottom 37% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the same industry, Haemonetics (HAE - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 7.
This provider blood management systems for health care providers and blood collectors is expected to post quarterly earnings of $1.28 per share in its upcoming report, which represents a year-over-year change of +3.2%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Haemonetics' revenues are expected to be $338.14 million, up 2.3% from the year-ago quarter.
For the quarter ended March 2026, Envista (NVST - Free Report) reported revenue of $705.5 million, up 14.4% over the same period last year. EPS came in at $0.36, compared to $0.24 in the year-ago quarter.
The reported revenue represents a surprise of +4.75% over the Zacks Consensus Estimate of $673.52 million. With the consensus EPS estimate being $0.31, the EPS surprise was +16.13%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Envista performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Geographic Sales- Equipment & Consumables- Other developed markets: $8.4 million versus $8.91 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -1.2% change.Geographic Sales- Equipment & Consumables- Emerging markets: $34 million compared to the $30.74 million average estimate based on three analysts. The reported number represents a change of +14.9% year over year.Geographic Sales- North America: $364.2 million versus the three-analyst average estimate of $353.73 million. The reported number represents a year-over-year change of +12.3%.Geographic Sales- Western Europe: $184.8 million versus the three-analyst average estimate of $156.12 million. The reported number represents a year-over-year change of +29%.Geographic Sales- Other developed markets: $31.5 million versus $32.45 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +3.6% change.Geographic Sales- Equipment & Consumables- Western Europe: $30.5 million versus $26.73 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20.6% change.Geographic Sales- Specialty Products & Technologies- North America: $189.4 million versus $186.87 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +10.6% change.Geographic Sales- Specialty Products & Technologies- Western Europe: $154.3 million versus the three-analyst average estimate of $129.39 million. The reported number represents a year-over-year change of +30.8%.Geographic Sales- Specialty Products & Technologies- Other developed markets: $23.1 million versus the three-analyst average estimate of $23.54 million. The reported number represents a year-over-year change of +5.5%.Geographic Sales- Specialty Products & Technologies- Emerging markets: $91 million compared to the $98.98 million average estimate based on three analysts. The reported number represents a change of +2% year over year.Sales- Equipment & Consumables: $247.7 million versus $232.08 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +14.4% change.Sales- Specialty Products & Technologies: $457.8 million versus the four-analyst average estimate of $438.46 million. The reported number represents a year-over-year change of +14.4%.View all Key Company Metrics for Envista here>>>
Shares of Envista have returned +3.6% over the past month versus the Zacks S&P 500 composite's +10.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
My existing 'buy' rating for Envista is left unchanged following my evaluation of its results and outlook. NVST's 1Q2026 earnings beat consensus by 15%, thanks to a defensive dental market and the company's own cost reduction efforts. The company's high-teens EPS growth guidance for the full year is well-supported by new product launches and synergies relating to its latest M&A.
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What are the Zacks Style Scores? Developed alongside the Zacks Rank, the Zacks Style Scores are a group of complementary indicators that help investors pick stocks with the best chances of beating the market over the next 30 days.
Each stock is given an alphabetic rating of A, B, C, D or F based on their value, growth, and momentum qualities. With this system, an A is better than a B, a B is better than a C, and so on, meaning the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreWhile good value is important, growth investors are more focused on a company's financial strength and health, and its future outlook. The Growth Style Score takes projected and historic earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.
Momentum ScoreMomentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank A proprietary stock-rating model, the Zacks Rank utilizes the power of earnings estimate revisions, or changes to a company's earnings outlook, to help investors create a successful portfolio.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
With more than 800 top-rated stocks to choose from, it can certainly feel overwhelming to pick the ones that are right for you and your investing journey.
That's where the Style Scores come in.
To maximize your returns, you want to buy stocks with the highest probability of success. This means picking stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you find yourself looking at stocks with a #3 (Hold) rank, make sure they have Scores of A or B as well to ensure as much upside potential as possible.
The direction of a stock's earnings estimate revisions should always be a key factor when choosing which stocks to buy, since the Scores were created to work together with the Zacks Rank.
Here's an example: a stock with a #4 (Sell) or #5 (Strong Sell) rating, even one with Style Scores of A and B, still has a downward-trending earnings outlook, and a bigger chance its share price will decrease too.
Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
Additionally, the company could be a top pick for growth investors. NVST has a Growth Style Score of B, forecasting year-over-year earnings growth of 19.3% for the current fiscal year.
Two analysts revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.01 to $1.42 per share. NVST boasts an average earnings surprise of +15.4%.
With a solid Zacks Rank and top-tier Growth and VGM Style Scores, NVST should be on investors' short list.
Have you assessed how the international operations of Envista (NVST - Free Report) performed in the quarter ended March 2026? For this maker of dental products, possessing an expansive global footprint, parsing the trends of international revenues could be critical to gauge its financial resilience and growth prospects.
In the current era of a tightly interconnected global economy, the proficiency of a company to penetrate international markets significantly influences its financial health and trajectory of growth. For investors, the key is to grasp how reliant a company is on overseas markets, as this provides insights into the durability of its earnings, its ability to exploit different economic cycles, and its overall growth capabilities.
Being present in international markets serves as a counterbalance to domestic economic challenges while offering chances to engage with more rapidly evolving economies. However, this kind of diversification introduces challenges like currency fluctuations, geopolitical uncertainties and varying market trends.
Our review of NVST's last quarterly performance uncovered some notable trends in the revenue contributions from its international markets, which are commonly analyzed and tracked by Wall Street experts.
For the quarter, the company's total revenue amounted to $705.5 million, experiencing an increase of 14.4% year over year. Next, we'll explore the breakdown of NVST's international revenue to understand the importance of its overseas business operations.
Unveiling Trends in NVST's International RevenuesEmerging markets generated $125 million in revenues for the company in the last quarter, constituting 17.7% of the total. This represented a surprise of -3.64% compared to the $129.72 million projected by Wall Street analysts. Comparatively, in the previous quarter, Emerging markets accounted for $165 million (22%), and in the year-ago quarter, it contributed $118.8 million (19.3%) to the total revenue.
During the quarter, Other developed markets contributed $31.5 million in revenue, making up 4.5% of the total revenue. When compared to the consensus estimate of $32.45 million, this meant a surprise of -2.93%. Looking back, Other developed markets contributed $32 million, or 4.3%, in the previous quarter, and $30.4 million, or 4.9%, in the same quarter of the previous year.
Of the total revenue, $184.8 million came from Western Europe during the last fiscal quarter, accounting for 26.2%. This represented a surprise of +18.37% as analysts had expected the region to contribute $156.12 million to the total revenue. In comparison, the region contributed $178.8 million, or 23.8%, and $143.3 million, or 23.2%, to total revenue in the previous and year-ago quarters, respectively.
Revenue Forecasts for the International MarketsFor the current fiscal quarter, it is anticipated by Wall Street analysts that Envista will post revenues of $713.84 million, which reflects an increase of 4.7% the same quarter in the previous year. The revenue contributions are expected to be 22.4% from Emerging markets ($159.88 million), 4.3% from Other developed markets ($30.72 million) and 22.5% from Western Europe ($160.25 million).
For the full year, the company is expected to generate $2.86 billion in total revenue, up 5.1% from the previous year. Revenues from Emerging markets, Other developed markets and Western Europe are expected to constitute 22% ($627.34 million), 4.5% ($127.79 million) and 22% ($627.21 million) of the total, respectively.
In ConclusionEnvista's leaning on foreign markets for its revenue stream presents a mix of chances and challenges. Therefore, a vigilant watch on its international revenue movements can greatly aid in projecting the company's future direction.
With the increasing intricacies of global interdependence and geopolitical strife, Wall Street analysts meticulously observe these patterns, especially for companies with an international footprint, to tweak their forecasts of earnings. Importantly, several additional factors, such as a company's domestic market status, also impact these earnings forecasts.
At Zacks, we place significant importance on a company's evolving earnings outlook. This is based on empirical evidence demonstrating its strong influence on a stock's short-term price movements. Invariably, there exists a positive relationship -- an upward revision in earnings estimates is typically mirrored by a rise in the stock price.
The Zacks Rank, our proprietary stock rating mechanism, demonstrates a notable performance history confirmed through external audits. It effectively utilizes the power of earnings estimate revisions to act as a predictor of a stock's price performance in the near term.
Currently, Envista holds a Zacks Rank #3 (Hold), signifying its potential to match the overall market's performance in the forthcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Reviewing Envista's Recent Stock Price TrendsThe stock has witnessed a decline of 8.2% over the past month versus the Zacks S&P 500 composite's an increase of 9.1%. In the same interval, the Zacks Medical sector, to which Envista belongs, has registered a decrease of 2.9%. Over the past three months, the company's shares saw a decrease of 16.3%, while the S&P 500 increased by 7.1%. In comparison, the sector experienced a decline of 9.8% during this timeframe.
Envista NYSE: NVST reported a strong start to 2026, with management citing broad-based growth across its major dental businesses, margin expansion and continued investment in new products and commercial capabilities.
On the company’s first-quarter earnings call, President and CEO Paul Keel said Envista posted 9.5% core growth in the quarter, marking the fourth consecutive quarter in which all of its major businesses grew. Orthodontics, consumables and diagnostics each grew double digits, while implants grew mid-single digits excluding China.
“Q1 was a good start to 2026 for Envista, extending the momentum we built across 2024 and 2025,” Keel said. He added that the dental market continued to show resilience despite macroeconomic volatility, with minimal impact so far from the conflict in the Middle East.
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Revenue Growth Benefited From Extra Billing Days Chief Financial Officer Eric Hammes said first-quarter sales were $706 million. Core sales increased 9.5%, while foreign exchange added a little more than 400 basis points. The company’s growth benefited from four additional billing days and a tailwind related to the Spark deferral.
Excluding those items, Hammes said core growth was about 4%, which was in line with Envista’s expectations. The additional billing days contributed an estimated $28 million, or 4.5 percentage points of growth, while foreign exchange added about $26 million in revenue. Underlying volume and price contributed another $22 million, and Spark deferral tailwinds added $9 million.
Keel said volume contributed more than seven points of growth in the quarter, with price accounting for more than two points. North America and Europe both grew double digits, while developing markets grew high single digits, with exceptions including China, affected by volume-based procurement, and the Middle East, affected by conflict.
Margins Expand as Company Reaffirms Guidance Envista’s adjusted gross margin was 55.8%, up 100 basis points from the prior year. Hammes said volume, price, productivity and foreign exchange contributed to the improvement. Adjusted EBITDA increased 25% year over year, with adjusted EBITDA margin rising 120 basis points to 14%.
Adjusted earnings per share were $0.36, up $0.12 from the same quarter last year. Hammes said the company’s non-GAAP tax rate was 26.1%, slightly better than expectations, and that Envista still expects a full-year 2026 non-GAAP tax rate of about 28%.
Free cash flow was negative $16 million in the first quarter. Hammes said the first quarter is historically Envista’s lowest cash-flow quarter and that the company continues to expect free cash flow conversion for 2026 to be approximately 100% of adjusted net income.
Envista reaffirmed its full-year 2026 guidance, including:
Core growth of 2% to 4%; Adjusted EBITDA growth of 7% to 13%; Adjusted EPS of $1.35 to $1.45; Free cash flow conversion of approximately 100% of adjusted net income. Keel said the company considered whether to change guidance but concluded that reaffirming the outlook was appropriate given continued macro uncertainty. “The frequency and amplitude of the geopolitical shifts over just the past year and a half has to be taken into account,” he said during the Q&A session.
Segment Performance Led by Equipment and Consumables In Specialty Products & Technologies, revenue grew more than 14% year over year, while core sales increased 8.4%. Hammes said Spark clear aligners grew double digits even after adjusting for the net deferral change, and brackets and wires also grew double digits. The implants business grew low single digits on a core basis, as solid developed-market growth was offset by China declines tied to channel inventory reductions ahead of an expected volume-based procurement process.
Specialty Products & Technologies adjusted operating profit increased $10 million, or 18%, with margin rates improving 40 basis points. Hammes said both businesses had positive price capture, and orthodontics continued to see factory improvements that allowed for more investment in commercial and R&D activities.
Equipment & Consumables core sales increased 11.5%, with double-digit growth in both consumables and diagnostics. Hammes said consumables performed well across Kerr and Metrex, while diagnostics was particularly strong in developed markets and posted its fourth straight quarter of positive growth. Adjusted operating profit in the segment increased 33%, and operating margins rose nearly 300 basis points.
Keel said consumables benefited from strength in Envista’s Metrex antimicrobial infection prevention business and from pricing. In diagnostics, he cited DEXIS’ installed base, recent product launches and software-driven capabilities as factors behind outperformance.
New Products and Versah Acquisition Highlight Growth Strategy Keel pointed to new product innovation as a central driver of Envista’s growth. In implants, the company launched the Nobel S series, which he said combines evidence-based designs and surface technologies with a common conical connection across Nobel implant sizes. Keel said early market response was encouraging, with more than a quarter of orders coming from competitive conversion.
In orthodontics, Envista launched Spark in Japan. Keel said the launch allows the company to build on its bracket-and-wire leadership in that market and compete in Japan’s clear aligner segment.
In diagnostics, DEXIS released DTX Studio Clinic with enhanced AI. Keel said the platform includes algorithmic image management, AI-driven diagnostics, automated treatment planning and workflow enhancements. He said DEXIS has about 275,000 connected devices and workstations in operation, processing more than 500 million images annually.
Envista also completed the acquisition of Versah, which Keel described as a pioneer in osseodensification, an implant preparation technique that compacts and autografts bone rather than excavating it. He said the acquisition is expected to be accretive to growth, margin, EPS and valuation multiple. In response to an analyst question, Hammes said Envista plans to keep Versah’s system open for use with a broad array of implant systems.
Buyback Authorization Increased by $300 Million Envista repurchased approximately 1.6 million shares in the first quarter and ended the period with $41 million remaining under its prior repurchase authorization. The board authorized an additional $300 million in repurchases through the end of 2029.
Hammes said an even deployment of that capital would allow Envista to invest about one-third of annual free cash flow into repurchases while preserving capacity for organic growth and acquisitions. Keel said the company’s capital deployment priorities remain organic growth first, accretive M&A second and returning surplus cash to shareholders third.
Management also addressed external risks during the call. Hammes said direct revenue exposure to the Middle East is less than 1% of total revenue, with minimal operations in the region. He said the company is monitoring potential second- and third-order impacts, including fuel, logistics and input cost inflation, but has mitigation plans in place.
Keel closed the call by saying Envista’s first-quarter performance showed continued progress against its growth, operations and people priorities. “Q1 was another solid step forward for Envista,” he said.
About Envista NYSE: NVSTEnvista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company's offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.
Envista's product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.
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Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #3 (Hold) on the Zacks Rank, with a VGM Score of A.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.74; value investors should take notice.
Four analysts revised their earnings estimate higher in the last 60 days for fiscal 2026, while the Zacks Consensus Estimate has increased $0.02 to $1.43 per share. NVST also boasts an average earnings surprise of +15.4%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.
On May 20, 2026, Envista Holdings Corp (NVST) shares rose 3.1% to a current price of $23.77. This move comes in the context of a 52-week range of $16.41 to $30.
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Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreIf you want a combination of all three Style Scores, then the VGM Score will be your friend. It rates each stock on their combined weighted styles, helping you find the companies with the most attractive value, best growth forecast, and most promising momentum. It's also one of the best indicators to use with the Zacks Rank.
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Thus, the more stocks you own with a #1 or #2 Rank and Scores of A or B, the better.
Stock to Watch: Envista (NVST - Free Report) Headquartered in Brea, CA, Envista Holdings Corporation was formed in 2018 as a wholly-owned subsidiary of Danaher Corporation (“Danaher”) to serve as the ultimate parent company of the dental platform of Danaher. The company is built through the acquisition and integration of over 25 leading dental businesses and brands over 15 years.
NVST is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 16.4; value investors should take notice.
For fiscal 2026, five analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.02 to $1.43 per share. NVST boasts an average earnings surprise of +15.4%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, NVST should be on investors' short list.
Key Takeaways NVST says dental demand was stable to slightly improving in Q1 2026, led by double-digit category growth. Envista expanded gross margin 100 bps and adj. EBITDA margin 120 bps as R&D rose 18.6% to $30M.Envista repurchased $42.6M in Q1 and added $300M to buybacks; watch tariffs, China implants, and FX. Envista Corporation (NVST - Free Report) is set up for steady value creation as it executes across growth, operational excellence, and people priorities. The company is using a productivity playbook to protect margins while spending more on innovation to support consistent product launches.
At $22.94 as of 06/02/2026, the shares sit below a 6–12 month price target of $24, framing a balanced risk-reward profile. NVST carries a Zacks Rank #3 (Hold).
NVST Snapshot and What the Report Says NowEnvista’s near-term setup is built around repeatable execution rather than a single standout quarter. The strategy centers on driving growth in core dental categories, tightening operations through a structured system, and strengthening talent development to support continuous improvement.
That positioning supports a measured upside case. The 6–12 month target of $24 versus the $22.94 stock price as of 06/02/2026 points to incremental appreciation potential, while macro volatility, tariffs, and competition keep the stance balanced.
In the past year, NVST shares have gained 22.4% against the industry’s 30.9% decline.
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Envista Business Mix That Investors Are Actually BuyingEnvista operates through two segments that map cleanly to demand across the dental workflow. Specialty Products and Technologies generated 64.4% of 2025 revenue and includes implants, regenerative solutions, prosthetics, and associated treatment software, along with orthodontic brackets, aligners, and lab products.
Equipment and Consumables represented 35.6% of 2025 revenue and spans digital imaging systems, software and visualization solutions, endodontic systems, restorative materials, rotary burs, impression and bonding materials, cements, and infection prevention products. The breadth across implants, orthodontics, imaging, consumables, and software helps diversify demand drivers.
NVST Demand Signals From Q1 2026Management described the dental market as stable to slightly improving in the first quarter of 2026, and category performance supported that view. Orthodontics, consumables, and diagnostics each delivered double-digit growth in the quarter, while implants grew at a mid-single-digit rate excluding China.
Growth was broad-based across both segments and most regions, with volume expansion and pricing both contributing. Developed markets led, with North America and Europe posting double-digit gains, while developing markets grew at a high-single-digit pace excluding China-related softness.
Envista Execution Engine Behind Margin ImprovementThe Envista Business System is the core lever behind productivity and margin discipline, and it showed up in profitability metrics in the first quarter. Envista delivered 100 basis points of gross margin expansion and 120 basis points of adjusted EBITDA margin improvement, reflecting better operating leverage and execution.
At the same time, the company is spending more to sustain innovation, with research and development up 18.6% year over year to $30.0 million in the first quarter. Tariff costs rose $11 million year over year, but supply chain actions, selling, general and administrative discipline, and pricing initiatives helped offset the headwind.
The Zacks Consensus Estimate for NVST’s 2026 sales and loss per share implies a year-over-year improvement of 5.1% and 20.2%, respectively. The bottom-line estimates have moved north in the past 60 days.
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Envista Financial Profile and Shareholder MovesEnvista ended the first quarter with $1.08 billion in cash and cash equivalents, no current debt, and $1.44 billion of long-term debt, down slightly from $1.45 billion in the prior quarter. Management continues to target approximately 100% free-cash-flow conversion for 2026, even as cash flow remains seasonally weakest early in the year.
Capital return is also part of the plan. Envista repurchased about $42.6 million of stock in the first quarter, and the board authorized an incremental $300 million addition to the repurchase authorization.
NVST The Big Risks to Monitor Into 2H 2026First, macro uncertainty and geopolitics can pressure dental utilization and purchasing cycles, especially for equipment decisions that are easier to defer. China is a specific swing factor for implants as channel partners adjust inventories ahead of anticipated volume-based procurement, which management expects to begin between the second and third quarters.
Second, tariffs remain an ongoing cost headwind, with similar quarterly levels anticipated through 2026, and competition is intense in markets shaped by rapid technological change and pricing pressure. Consistent new-product traction is essential to sustain growth while Envista reinvests at double-digit rates in sales, marketing, and research and development. Foreign exchange is another variable given that 52.7% of first-quarter 2026 revenue came from outside the United States.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Key Takeaways Envista is up 5.7% YTD and 22.3% over a year while its sub-industry slumped. NVST Q1 2026 revenue rose 14.4% to $705.5M; adjusted EPS jumped 50% to $0.36. Envista kept 2026 core sales growth at 2%-4% and expects adj. EPS $1.35-$1.45. Envista Corporation (NVST - Free Report) has started to rebuild investor confidence, but the valuation question is still front and center. The stock trades at 15.1x forward 12-month earnings, a modest premium to its Zacks sub-industry at 14.9x, and a discount to the Zacks sector at 19.6x and the S&P 500 at 22.2x.
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With shares at $22.94 and a $24 price target tied to a 16.2x forward 12-month earnings multiple, the setup is about whether recent execution can hold long enough to justify a slightly higher multiple.
NVST Valuation Setup Using the Report’s MultiplesThe market is assigning Envista 15.1x forward 12-month earnings. That level sits close to the sub-industry’s 14.9x, implying investors are not yet paying up for a decisive re-rating. At the same time, the discount to the sector (19.6x) and the S&P 500 (22.2x) suggests expectations remain restrained.
The $24 price target is anchored to a 16.2x forward 12-month earnings multiple, which is only modestly above today’s trading level. Put differently, the upside case is not dependent on a big multiple expansion. It depends on Envista sustaining the operating improvements now showing up in results.
Envista Price Performance Context and What It Can MisleadEnvista shares are up 5.7% year to date and up 22.3% over the past year. That performance looks more constructive when set against a weak peer backdrop: the Zacks sub-industry is down 25.2% year to date and down 30.9% over the past year, while the Zacks Medical sector is down 6.6% year to date and up 2.7% over the past year.
Benchmark dispersion matters because multiples are forward-looking reflections of market expectations. A sub-industry drawdown can compress peer multiples even if fundamentals differ, while a more resilient sector line can keep sector-level valuations elevated. Against that backdrop, Envista’s near-sub-industry multiple reads less like “cheapness” and more like a market that wants proof the recent momentum is repeatable.
NVST Earnings Power: What Q1 2026 RevealedThe first quarter of 2026 showed meaningful profit acceleration alongside solid top-line growth. Revenue was $705.5 million, up 14.4% year over year. Adjusted diluted earnings per share were $0.36, up 50% year over year, while GAAP diluted earnings per share were $0.23.
The quality of the improvement matters. Adjusted gross margin expanded 100 basis points to 55.8%, supported by volume, price, productivity and favorable foreign exchange. Operating expenses also grew more slowly than revenue, with selling, general and administrative expenses up 9.5% to $297.6 million, even as research and development spending rose 18.6% to $30.0 million.
NVST 2026 Outlook: What Must Go RightManagement maintained its full-year 2026 outlook for core sales growth of 2% to 4%. The Zacks Consensus Estimate calls for $2.86 billion of revenue, implying 5.1% growth from the year-ago reported figure. That gap sets up a clear “meet the bar” framework: the market will watch whether reported results can track closer to consensus while still fitting inside the company’s core-sales lens.
Earnings expectations are similarly defined. Adjusted diluted earnings per share are expected to be between $1.35 and $1.45, while the Zacks Consensus Estimate is $1.43. With the stock priced off forward earnings, execution against that range is a key driver of whether the multiple holds.
Envista Rating Lens for Near-Term Decision MakersFor investors using a shorter time horizon, the Zacks Rank provides the primary signal. Envista currently carries a Zacks Rank #3 (Hold). The Style Scores show what the model is rewarding: VGM is B, with Value at B, Growth at C and Momentum at B.
That mix fits the current setup. The Value and Momentum profile aligns with a stock that has improved and is not priced like a sector leader, while the weaker Growth score reflects the need for continued follow-through in demand, share gains and operating leverage.
Based on short-term price targets offered by 13 analysts, the average price target of $29.85 represents an increase of 30.12% from the last closing price.
Image Source: Zacks Investment Research
NVST Checklist: What Would Change the MultipleA practical catalyst list starts with tariffs. Tariff costs increased $11 million year over year in the first quarter, but were offset by supply chain, general and administrative, and pricing initiatives. Sustained offsetting through pricing and productivity is central to protecting margins as similar quarterly levels are anticipated through 2026.
Next is adoption. Recent launches include the Nobel S Series in implants, the Spark clear aligner launch in Japan, and DEXIS software enhancements adding artificial intelligence-driven workflow and diagnostics tools. Progress in China implants is also key, with uncertainty tied to expected volume-based procurement timing that management expects to begin between the second and third quarters.
What could break the thesis is straightforward: weaker-than-expected traction for new products and software, higher tariff drag that outpaces mitigation, or macro softness that slows dental utilization and purchasing cycles.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
It has been about a month since the last earnings report for Envista (NVST - Free Report) . Shares have lost about 5.9% in that time frame, underperforming the S&P 500.
Will the recent negative trend continue leading up to its next earnings release, or is Envista due for a breakout? Well, first let's take a quick look at its most recent earnings report in order to get a better handle on the recent catalysts for Envista Holdings Corporation before we dive into how investors and analysts have reacted as of late.
Revenues: $705.5 million in first quarter 2026, up 14.4% YoYAdjusted Diluted EPS: $0.36 in first quarter 2026, up 50.0% YoYGAAP Diluted EPS: $0.23 in first quarter 2026, up 130.0% YoYAdjusted Gross Margin: 55.8% in first quarter 2026, up 100 bps YoYGAAP Operating Margin: 8.9% in first quarter 2026, up 260 bps YoYSpecialty Products & Technologies Revenue: $457.8 million in first quarter 2026, up 14.4% YoYEquipment & Consumables Revenue: $247.7 million in first quarter 2026, up 14.4% YoY.Envista reported adjusted earnings per share (EPS) of 36 cents in the first quarter of 2026, up 50% year over year.
The adjustments include non-cash charges related to the amortization of acquisition-related and other intangible assets, restructuring costs and asset impairments, among others.
The company’s GAAP earnings were 23 cents compared with the year-ago quarter’s 10 cent per share.
Segment Mix and Margin ExpansionSpecialty Products & Technologies revenues totaled $457.8 million in first-quarter 2026, up 14.4% year over year. The segment generated operating profit of $46.5 million and an operating margin of 10.2%, representing an 80-basis-point improvement from 9.4% in the first quarter of 2025. Core sales growth was 8.4% in the quarter.
Equipment & Consumables revenues totaled $247.7 million in first-quarter 2026, up 14.4% year over year. The segment generated operating profit of $46.8 million and an operating margin of 18.9%, an improvement of 420 basis points from 14.7% in the prior-year quarter. Core sales growth was 11.5% in the period, reflecting healthy demand in developed markets.
Expense Discipline and ProfitabilityAdjusted gross margin expanded 100 basis points to 55.8%, supported by volume, price, productivity, and favorable FX.
Operating expense growth remained controlled relative to revenues. Selling, general and administrative expenses increased 9.5% year over year to $297.6 million, and research and development spending rose 18.6% to $30.0 million in first-quarter 2026. GAAP operating profit increased 60.3% to $62.5 million, lifting the GAAP operating margin to 8.9% in first-quarter 2025.
Cash Flow, Liquidity, and Capital MovesFree cash flow was negative $15.7 million in the first quarter compared to negative $5.1 million a year ago. Operating cash flow was negative $3.3 million compared to positive $0.3 million in the prior-year period, consistent with the company's seasonally weakest cash flow quarter.
Envista ended the quarter with cash and cash equivalents of $1.08 billion and long-term debt of $1.44 billion. During the quarter, the company deployed $54.4 million on acquisitions and repurchased $42.7 million of stock under its share repurchase program.
2026 Guidance and Operating AssumptionsManagement maintained its full-year 2026 outlook. Guidance continues to call for core sales growth of 2% to 4%. The Zacks Consensus Estimate for revenues is pegged at $2.86 billion, suggesting 5.1% growth from the year-ago reported figure.
Adjusted diluted EPS is expected to be between $1.35 to $1.45. The Zacks Consensus Estimate for the metric is pegged at $1.43.
How Have Estimates Been Moving Since Then?It turns out, estimates review have trended upward during the past month.
VGM ScoresAt this time, Envista has a average Growth Score of C, a score with the same score on the momentum front. Charting a somewhat similar path, the stock has a score of B on the value side, putting it in the top 40% for this investment strategy.
Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in.
OutlookEstimates have been broadly trending upward for the stock, and the magnitude of these revisions looks promising. Interestingly, Envista has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry PlayerEnvista is part of the Zacks Medical - Products industry. Over the past month, QuidelOrtho (QDEL - Free Report) , a stock from the same industry, has gained 42.1%. The company reported its results for the quarter ended March 2026 more than a month ago.
QuidelOrtho reported revenues of $619.8 million in the last reported quarter, representing a year-over-year change of -10.5%. EPS of -$0.04 for the same period compares with $0.74 a year ago.
QuidelOrtho is expected to post earnings of $0.04 per share for the current quarter, representing a year-over-year change of -66.7%. Over the last 30 days, the Zacks Consensus Estimate has changed -20%.
QuidelOrtho has a Zacks Rank #5 (Strong Sell) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of D.
Key Takeaways Envista posted positive growth across major businesses, led by double-digit gains in developed markets.NVST expanded margins via EBS benefits, offsetting higher tariff costs with pricing and efficiency actions.NVST's Spark launched in Japan, while China policy uncertainty and FX swings remain key challenges. Envista Holdings Corporation’s (NVST - Free Report) ongoing international expansion is strengthening its presence across a broader range of markets, creating significant opportunities for long-term growth. Supported by the company’s strategic priorities and growth-focused initiatives, it is well positioned to capitalize on emerging opportunities and deliver solid operational and financial performance in the upcoming quarters. Yet, a dull macroeconomic scenario and competitive pressure raise concerns for Envista’s operations.
Over the past year, this Zacks Rank #3 (Hold) stock has gained 21.5%, outpacing the industry’s decline of 29%. The S&P 500 composite has grown 26.8% in the same time frame.
The leading optical retailer has a market capitalization of $4.08 billion. The company’s earnings yield of 6.1% is well ahead of the industry’s 3.1%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 15.4%.
Tailwinds for NVSTInternational Reach and Channel Expansion: Developed markets were the key growth engine in first-quarter 2026, with North America and Europe both delivering double-digit gains. Developing markets are growing in the high single digits, excluding softness in China tied to policy uncertainty.
The Spark launch in Japan adds a new growth vector in a sizable aligner market where the company already has strong orthodontic relationships, creating a cross-sell opportunity into clear aligners.
Management also highlighted continued progress with dental support organizations (DSOs) and clinician education initiatives as key drivers of deeper market penetration. Envista’s broad geographic footprint and extensive channel presence, combined with targeted investments in customer support and clinical training, position the company to continue gaining market share as conditions normalize across its end markets.
Progress With Strategic Priorities: Envista’s strategy is centered on three priorities: growth, operations and people. The company’s growth agenda is supported by four key pillars. In the first quarter of 2026, all major businesses delivered positive growth, with core revenue increasing 8.4% in the Specialty Products & Technologies segment and 11.5% in the Equipment & Consumables segment.
To sustain market-share gains, Envista has continued to invest in sales and marketing as well as research and development, with spending in both areas rising at a double-digit rate. New product introductions remain a key growth driver. Recent launches include the Nobel S Series implant system, the introduction of Spark clear aligners in Japan and enhancements to DEXIS software that incorporate AI-powered workflow and diagnostic capabilities.
The Envista Business System (“EBS”) continued to deliver broad-based operational benefits, supporting gross margin expansion of 100 basis points and adjusted EBITDA margin growth of 120 basis points. Tariff costs increased $11 million from the prior year but were offset by supply chain, G&A and pricing initiatives.
With respect to its third strategic priority, people, Envista continues to strengthen its culture of continuous improvement, supported by ongoing gains in employee engagement and talent development. The company also extended its social impact through the Envista Smile Project, serving approximately 3,700 patients.
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Concerns for NVSTMacro and Policy Headwinds: Management continues to flag global economic uncertainty alongside geopolitical volatility, which can weigh on dental utilization and purchasing cycles. China remains a source of uncertainty for the implants business as channel partners continue to adjust inventory levels ahead of the anticipated volume-based procurement (VBP) process, which management expects to begin between the second and third quarters.
Tariffs also remain a cost headwind. First-quarter 2026 adjusted EBITDA reflected an $11 million year-over-year increase in tariff costs, with similar quarterly levels anticipated through 2026. While first-quarter profitability improved, these external pressures could limit operating leverage and introduce variability across quarters.
Foreign Exchange and Global Exposure: Envista's international footprint is not only a growth asset but also a risk factor. In the first quarter of 2026, 52.7% of revenues came from customers outside the United States, exposing sales, margins, and cash flow to currency fluctuations and regional demand variability.
While balance-sheet hedging has reduced quarter-to-quarter volatility compared with the prior year, foreign exchange movements continue to affect performance and can influence reported results. In addition, regional disruptions, including conflicts in the Middle East and evolving conditions in China, add complexity to planning and may at times offset strength in developed markets.
NVST Stock Estimate TrendThe Zacks Consensus Estimate for 2026 earnings per share (EPS) has moved north at $1.42 over the past 30 days.
The Zacks Consensus Estimate for 2026 revenues is pegged at $2.86 billion, suggesting a 5.2% increase from the year-ago reported number.
Key PicksSome better-ranked stocks in the broader medical space are Globus Medical (GMED - Free Report) , Integra LifeSciences (IART - Free Report) and Phibro Animal Health (PAHC - Free Report) .
Globus Medical has an earnings yield of 5.5%, well ahead of the industry’s negative 3% yield. Its earnings surpassed estimates in each of the trailing four quarters, the average surprise being 26.3%. The company’s shares have rallied 43.8% against the industry’s 4.8% decline over the past year.
GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Integra LifeSciences, carrying a Zacks Rank #2 (Buy) at present, has an earnings yield of 16% against the industry’s negative 3% yield. Shares of the company have gained 22.8% compared with the industry’s 4.8% growth. IART’s earnings topped estimates in each of the trailing four quarters, the average surprise being 16.8%.
Phibro Animal Health, carrying a Zacks Rank #2 at present, has an earnings yield of 9.2% compared with the industry’s 2.8% yield. Shares of the company have climbed 43.1% against the industry’s 27.9% decline. PAHC’s earnings beat estimates in each of the trailing four quarters, the average surprise being 16.3%.
