Envista Holdings: Strong Q3 Performance and Upward Guidance, Yet Valuation Concerns Justify Hold Rating
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David Saxon has assigned a Hold rating to Envista Holdings despite its strong Q3 performance, where the company surpassed revenue and earnings expectations and raised its guidance. The Spark business has become profitable, enhancing operating margins. However, Saxon cites valuation concerns relative to peers in the dental industry as the reason for the neutral recommendation, indicating a cautious outlook on future stock performance.
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