<p>大卫·萨克森因环境控股公司（Envista Holdings）近期表现和市场定位的多种因素给予其持有评级。该公司在 2025 年第三季度的收入和每股收益均超出预期，管理层已将年度收入和收益指引上调。此外，Spark 业务已实现盈利，对公司的整体运营利润率产生了积极贡献。</p>
<p>尽管这些积极的发展，萨克森仍然维持持有评级，主要是因为与牙科行业同行相比，该公司的估值。虽然牙科市场看起来稳定，环境控股的增长在价格和销量之间保持平衡，但当前的估值并未提供强有力的买入评级理由。因此，该建议保持中立，反映出对未来股票表现相对于行业同行的谨慎态度。</p>

NVST

<p>尽管 Envista Holdings 在第三季度表现强劲，超出了收入和盈利预期并提高了指引，David Saxon 仍然对其给予了持有评级。Spark 业务已实现盈利，提升了运营利润率。然而，Saxon 指出，相较于牙科行业的同行，估值问题是其中立推荐的原因，表明对未来股票表现持谨慎态度</p>

<p>David Saxon has given his Hold rating due to a combination of factors surrounding Envista Holdings’ recent performance and market positioning. The company exceeded expectations in both revenue and earnings per share for the third quarter of 2025, and management has adjusted its revenue and earnings guidance upwards for the year. Additionally, the Spark business has turned profitable, contributing positively to the company’s overall operating margins.</p>
<div class="lb-trans"><p>大卫·萨克森因环境控股公司（Envista Holdings）近期表现和市场定位的多种因素给予其持有评级。该公司在 2025 年第三季度的收入和每股收益均超出预期，管理层已将年度收入和收益指引上调。此外，Spark 业务已实现盈利，对公司的整体运营利润率产生了积极贡献。</p>
</div><p>Despite these positive developments, Saxon maintains a Hold rating primarily due to the company’s valuation when compared to its peers in the dental industry. While the dental market appears stable and Envista’s growth is balanced between price and volume, the current valuation does not present a compelling case for a Buy rating. Therefore, the recommendation remains neutral, reflecting a cautious stance on future stock performance relative to its industry counterparts.</p>
<div class="lb-trans"><p>尽管这些积极的发展，萨克森仍然维持持有评级，主要是因为与牙科行业同行相比，该公司的估值。虽然牙科市场看起来稳定，环境控股的增长在价格和销量之间保持平衡，但当前的估值并未提供强有力的买入评级理由。因此，该建议保持中立，反映出对未来股票表现相对于行业同行的谨慎态度。</p>
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Envista Holdings：第三季度表现强劲并上调业绩指引，但估值问题使得持有评级合理