Bank of New York Mellon Corp Grows Holdings in Envista Holdings Corporation (NYSE:NVST)

Bank of New York Mellon Corp grew its stake in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,650,098 shares of the company's stock after buying an additional 287,564 shares during the period. Bank of New York Mellon Corp owned 0.97% of Envista worth $28,481,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVST. Franklin Resources Inc. increased its position in shares of Envista by 72.6% during the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company's stock valued at $132,223,000 after buying an additional 2,882,844 shares during the period. Brickwood Asset Management LLP bought a new stake in shares of Envista during the fourth quarter valued at about $40,037,000. Norges Bank bought a new stake in shares of Envista during the fourth quarter valued at about $38,052,000. Dimensional Fund Advisors LP increased its position in shares of Envista by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock valued at $130,440,000 after buying an additional 1,089,923 shares during the period. Finally, Deerfield Management Company L.P. Series C increased its position in shares of Envista by 4,949.9% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,018,415 shares of the company's stock worth $19,645,000 after purchasing an additional 998,248 shares during the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Piper Sandler decreased their price objective on shares of Envista from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. UBS Group reduced their price target on shares of Envista from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Bank of America reduced their price target on shares of Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Morgan Stanley set a $16.00 target price on shares of Envista in a report on Tuesday, April 15th. Finally, Robert W. Baird upgraded shares of Envista from a "neutral" rating to an "outperform" rating and raised their target price for the stock from $21.00 to $23.00 in a report on Tuesday, May 27th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Envista has a consensus rating of "Hold" and an average target price of $20.23.

Envista Stock Down 1.5%

Shares of NVST stock traded down $0.29 during mid-day trading on Friday, reaching $19.46. 1,980,932 shares of the company's stock traded hands, compared to its average volume of 2,465,036. Envista Holdings Corporation has a 12 month low of $14.22 and a 12 month high of $23.00. The company has a market cap of $3.30 billion, a P/E ratio of -2.98, a P/E/G ratio of 1.23 and a beta of 1.00. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.43. The company's 50-day moving average price is $18.91 and its 200-day moving average price is $18.53.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. Envista had a negative net margin of 44.90% and a positive return on equity of 4.07%. The company had revenue of $616.90 million for the quarter, compared to analysts' expectations of $608.17 million. During the same quarter in the previous year, the business posted $0.26 EPS. Envista's revenue was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

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.