Alliancebernstein L.P. Boosts Stock Position in Envista Holdings Corporation $NVST

Key Points

• Alliancebernstein L.P. significantly increased its position in Envista Holdings Corporation by nearly 2,000%, owning approximately 4.55 million shares valued at $78.55 million.
• Multiple hedge funds have also raised their stakes in Envista, with notable increases including a 214.4% boost by UMB Bank and a 14.4% increase by Palouse Capital Management.
• Envista reported earnings of $0.26 per share for the last quarter, exceeding analyst expectations and demonstrating a 7.7% year-over-year revenue increase.

Alliancebernstein L.P. raised its position in Envista Holdings Corporation (NYSE:NVST - Free Report) by 1,985.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,550,789 shares of the company's stock after acquiring an additional 4,332,541 shares during the quarter. Alliancebernstein L.P. owned approximately 2.69% of Envista worth $78,547,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in NVST. AQR Capital Management LLC lifted its stake in shares of Envista by 36.0% in the 1st quarter. AQR Capital Management LLC now owns 1,451,131 shares of the company's stock worth $24,466,000 after purchasing an additional 384,183 shares during the period. Ariel Investments LLC increased its holdings in Envista by 0.7% during the first quarter. Ariel Investments LLC now owns 12,144,745 shares of the company's stock valued at $209,618,000 after buying an additional 85,121 shares during the last quarter. Royal Bank of Canada increased its holdings in Envista by 26.6% during the first quarter. Royal Bank of Canada now owns 23,240 shares of the company's stock valued at $401,000 after buying an additional 4,885 shares during the last quarter. Gates Capital Management Inc. raised its position in Envista by 10.0% in the first quarter. Gates Capital Management Inc. now owns 5,163,745 shares of the company's stock worth $89,126,000 after acquiring an additional 469,597 shares during the period. Finally, Vident Advisory LLC purchased a new position in shares of Envista during the 1st quarter worth $444,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Morgan Stanley upped their price objective on Envista from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. UBS Group boosted their price target on Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Robert W. Baird raised Envista from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $21.00 to $23.00 in a research note on Tuesday, May 27th. Piper Sandler boosted their price objective on Envista from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Wall Street Zen lowered shares of Envista from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.92.

Envista Price Performance

NVST traded down $0.56 during trading on Friday, hitting $21.05. 1,223,509 shares of the company traded hands, compared to its average volume of 1,488,205. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46. The company has a market cap of $3.50 billion, a PE ratio of 65.77, a P/E/G ratio of 1.16 and a beta of 0.99. The stock's 50-day simple moving average is $20.54 and its two-hundred day simple moving average is $18.58. Envista Holdings Corporation has a 1 year low of $14.22 and a 1 year high of $23.00.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $682.10 million for the quarter, compared to analysts' expectations of $638.21 million. Envista had a net margin of 2.11% and a return on equity of 4.84%. The business's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. As a group, sell-side analysts anticipate that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

About Envista

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.