Envista Holdings

NVST · NYSE

$22.97+$0.36 (+1.59%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $22.61

NVST analyst rating

HoldConsensus of 13 analysts over the last 12 months. 38% rate it a buy.

Strong buy0
Buy5
Hold8
Underperform0
Sell0

12-month price target · 15 analysts

Average $30.43 (+32.5% upside)

Low: $23.23
Now: $22.97
High: $36.75

Upgrades and downgrades

The latest rating actions, newest first

NVST analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Baird	Oct 15, 2026	Downgrade	Outperform → Neutral	$34.00 → $26.00	55%
Leerink Partners	Oct 14, 2026	Maintains	Outperform	$35.00 → $32.00	61%
Piper Sandler	Oct 9, 2026	Maintains	Neutral	$28.00 → $26.00	43%
BMO Capital	Sep 28, 2026	Maintains	Market Perform	$29.00 → $26.00	45%
Piper Sandler	Sep 18, 2026	Maintains	Neutral	$28.00	43%
UBS	Sep 18, 2026	Maintains	Neutral	$30.00 → $27.00	70%
Needham	Sep 18, 2026	Maintains	Hold	—	39%
JP Morgan	Sep 3, 2026	Upgrade	Neutral → Overweight	$29.00 → $32.00	50%
Piper Sandler	Aug 6, 2026	Maintains	Neutral	$26.00 → $28.00	43%
Piper Sandler	Jul 29, 2026	Maintains	Neutral	$25.00 → $26.00	43%

The case for and against

Updated Oct 18, 2026

Bull case

Envista Holdings is positioned to benefit from a combination of above-market growth and meaningful margin expansion, especially as management raises medium-term revenue and earnings targets and execution improves after investments over the last couple of years. Spark remains a key lever, with cost per aligner down 40% over the past three years and further gains possible from automation, scale, and production optimization, while implants are gaining momentum with the S Series reaching 18% of NA/EU premium mix in 2Q26. Its broader portfolio also supports the outlook, as predictable high-margin consumables, digital dentistry adoption, and a large installed base of about 450K units create multiple paths to higher-margin software, services, and earnings growth.

Bear case

Envista Holdings is facing a cautious outlook because its near-term revenue and margin profile is vulnerable to China VBP-related channel destocking, with management flagging a $10M sales drawdown in 3Q and uncertain restocking into 4Q and potentially 1Q-27. Although management raised medium-term organic growth guidance to +2-5%, EBITDA to +5-8%, and EPS to +7-11%, the analyst sees limited upside as rising interest expense, inflation that may outpace pricing, and potential margin pressure could suppress earnings growth over the next couple years. The company has generated about $100M of price-related revenue over the past three years and carries only 0.7x leverage, but skepticism remains that pricing can sustainably offset input inflation without sacrificing share or gross margin.

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