Envista Holdings has beaten earnings estimates in all 4 of the last quarters with an average positive surprise of 15.6%, generates free cash flow at 320% of net income, and carries a perfect Piotroski F-Score of 9/9, though geographic concentration in North America and thin price-to-upside margin limit immediate re-entry.
Thesis pillars
- Perfect Earnings Beat Streak↓Deteriorating
- Exceptional Free Cash Flow Conversion→Stable
- Geographic Concentration North America↑Improving
- +1 more pillar — see the Why tab for full reasoning
Pillars as of Jul 3, 2026, based on the 10-K filed Feb 12, 2026
Envista Holdings Corporation (NVST) Stock Analysis
Healthcare · Medical Instruments & Supplies
Hold if already holding. Not a fresh buy at $23.94, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: North America (51.0%); Concentration risk — Supplier: sole or limited source suppliers.
Envista Holdings designs and markets dental products across two segments — Specialty Products & Technologies (implants, orthodontics) and Equipment & Consumables (imaging, restoratives) — serving dental professionals in over 130 countries. The company generated $2.7 billion in... Read more
Hold if already holding. Not a fresh buy at $23.94, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: North America (51.0%); Concentration risk — Supplier: sole or limited source suppliers. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 6.1/10, moderate confidence.
Passes 5/8 gates (positive momentum, clean insider activity, news events none recent, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and earnings proximity 6d<=7d. Suitability: aggressive.
About Envista Holdings Corporation
About Envista Holdings Corporation
Envista Holdings generated $2.7 billion in total sales in 2025, with Specialty Products & Technologies contributing $1.75 billion (64% of revenue) and Equipment & Consumables $967 million (36%). North America supplied 51% of those sales, Western Europe 23%, and emerging markets 22%. The company serves dental professionals in over 130 countries, employing a commercial organization of more than 3,000 field staff; approximately 85% of sales came from consumable products, services, and spare parts.
Specialty Products & Technologies generates revenue through direct sales of implant systems — Nobel Biocare, Implant Direct, Alpha-Bio Tec — and orthodontic products under Ormco, Damon, and Spark, with 84% of that segment's 2025 sales going direct to dental professionals. Equipment & Consumables distributes 89% of its sales through channel partners, selling DEXIS imaging systems, Kerr restorative materials, and Metrex infection-prevention products to dental offices and hospitals. Across both segments, approximately 42% of products shipped through third-party distributors, with Henry Schein accounting for 12% of total company sales in 2025 — no other single customer exceeded 10%. Some operations source materials from sole or limited source suppliers for regulatory or quality reasons; the FDA's validation requirements for new material approvals could delay substitution if a sole-source relationship is disrupted. China generates approximately 7% of annual sales; volume-based procurement reforms there have driven material price cuts for dental consumables and may weigh on margin in that region.
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Tariff exposure is a meaningful cross-cutting risk: Envista manufactures products in multiple countries and sources electronic components, chemicals, and plastics globally; U.S. tariffs on imports from China and retaliatory measures on U.S. exports could raise manufacturing costs. The 10-K notes the company has already experienced cost increases attributable to higher tariffs and that, depending on the ability to pass through those costs, profitability and cash flows could be adversely affected. Ongoing trade policy uncertainty between the U.S. and China makes forecast timing for tariff relief highly uncertain.
See also: Healthcare · Medical Instruments & Supplies
From Envista Holdings Corporation's most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-10-29Recent Developments — Envista Holdings Corporation
Latest news
- NEWS Envista Holdings Corp (NVST) Financial Health: Profitability & Balance Sheet Analysis - tradingkey.com — tradingkey.com neutral
- NEWS Envista (NVST) Projected to Post Quarterly Earnings on Wednesday - MarketBeat — MarketBeat neutral
- NEWS NVST Stock Price Prediction 2025-2026 | Envista Holdings Corp Forecast - 24/7 Wall St. — 24/7 Wall St. positive
- NEWS NVST Stock Price Prediction 2025-2026 | Envista Holdings Corp Forecast | 24/7 Wall St. - 24/7 Wall St. — 24/7 Wall St. positive
- NEWS NVST or ABT: Which Is the Better Value Stock Right Now? - Yahoo Finance — Yahoo Finance neutral
Generated 2026-10-29T11:48:40Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicNorth America51%10-K Item 1: 'In 2025, we generated 51% of our sales in North America'
- LOWCustomerHenry Schein12%10-K Item 1: 'One customer, Henry Schein, Inc. ("Henry Schein"), accounted for approximately 12% of our sales for 2025'
- HIGHSuppliersole or limited source suppliers10-K Item 1A: 'some of our businesses purchase certain materials, components and services from sole or limited source suppliers'
Material Events(8-K, last 90d)
- 2026-06-03Item 5.02MEDIUMChief Accounting Officer Faez Kaabi notified company of resignation effective August 6, 2026, in connection with retirement; no disagreement cited. Successor Coree Thomas (current VP, Global Controller) appointed as VP and CAO effective August 6, 2026.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results. How we score · Editorial policy
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Rating Breakdown
1 floor-breaker
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $23.94, but acceptable to hold if already in. Reasons: Concentration risk — Geographic: North America (51.0%); Concentration risk — Supplier: sole or limited source suppliers. Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Analyst target $24.96 (+4.3%), stop $22.72 (−5.4%), A.R:R 0.6:1. Score 6.1/10, moderate confidence.
Analyst target: $24.96 (+4.3% upside). Analyst target $24.96 (+4.3%), stop $22.72 (−5.4%), A.R:R 0.6:1. Stop-loss: $22.72.
Concentration risk — Geographic: North America (51.0%); Concentration risk — Supplier: sole or limited source suppliers; Thin upside margin: 4.3%.
Envista Holdings Corporation trades at a P/E of 41.3 (forward 14.4). TrendMatrix value score: 7.0/10. Verdict: Hold.
21 analysts cover NVST with a consensus score of 4.0/5. Average price target: $29.
What does Envista Holdings Corporation do?Envista Holdings designs and markets dental products across two segments — Specialty Products & Technologies (implants,...
Envista Holdings designs and markets dental products across two segments — Specialty Products & Technologies (implants, orthodontics) and Equipment & Consumables (imaging, restoratives) — serving dental professionals in over 130 countries. The company generated $2.7 billion in total sales in 2025, with 85% from consumables and services; Henry Schein accounted for approximately 12% of 2025 sales.