Q: Would you kindly comment on the recent earnings reports for both Docebo and Envista. Do you see each company as a buy/hold/sell at the moment. Thanks
5i Research Answer:
DCBO comments are now posted. We think it is a HOLD. NVST EPS was 38c, down from 47c last year and below estimates of 41c. Sales of $627M fell about 1% and were below $632M estimates. Speciality products were strong, but this was offset by weakness in China and Russia and weakness in capital equipment. Still, the company reiterated guidance and expects margins above 20%. Not a disaster here, but at 26X earnings we would not expect much for a few quarters. But we would still see it as a HOLD.