Ameriprise Financial Inc. Boosts Holdings in Envista Holdings Co. (NYSE:NVST)

Ameriprise Financial Inc. grew its stake in Envista Holdings Co. (NYSE:NVST - Free Report) by 288.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,075,344 shares of the company's stock after purchasing an additional 798,366 shares during the quarter. Ameriprise Financial Inc. owned about 0.62% of Envista worth $20,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Franklin Resources Inc. lifted its position in Envista by 72.6% during the 4th quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company's stock valued at $132,223,000 after acquiring an additional 2,882,844 shares during the period. Norges Bank bought a new stake in shares of Envista in the fourth quarter worth $38,052,000. Dimensional Fund Advisors LP increased its position in shares of Envista by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock valued at $130,440,000 after purchasing an additional 1,089,923 shares during the last quarter. Pzena Investment Management LLC bought a new position in Envista in the fourth quarter worth approximately $16,979,000. Finally, Ariel Investments LLC raised its holdings in Envista by 6.2% in the 4th quarter. Ariel Investments LLC now owns 12,059,624 shares of the company's stock worth $232,630,000 after purchasing an additional 699,625 shares during the period.

Envista Stock Down 3.2%

NYSE:NVST traded down $0.59 during midday trading on Monday, reaching $17.68. 2,576,903 shares of the stock traded hands, compared to its average volume of 2,543,904. Envista Holdings Co. has a 12-month low of $14.22 and a 12-month high of $23.00. The business has a 50-day moving average of $16.52 and a two-hundred day moving average of $18.96. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.76 and a current ratio of 2.04. The stock has a market capitalization of $3.00 billion, a PE ratio of -2.72, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $616.90 million during the quarter, compared to analyst estimates of $608.17 million. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. Envista's revenue was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $0.26 EPS. On average, equities analysts forecast that Envista Holdings Co. will post 1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wells Fargo & Company set a $19.00 target price on shares of Envista in a report on Saturday, March 8th. UBS Group decreased their price objective on Envista from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Piper Sandler dropped their target price on Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Robert W. Baird set a $21.00 price target on shares of Envista in a report on Friday, May 2nd. Finally, Morgan Stanley set a $16.00 price objective on Envista in a report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.08.

Envista Company Profile

Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, markets, and sells dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies, and Equipment & Consumables. The Specialty Products & Technologies segment offers dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists and periodontists, and general dentist; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products.