Bank of New York Mellon Corp Purchases Shares of 1,416,163 Envista Holdings Corporation $NVST

Key Points

• Bank of New York Mellon acquired 1.42 million Envista shares worth approximately $37.3 million, representing about 0.87% of the dental-products company.
• Other institutions, including Millennium Management, Goldman Sachs, UBS Asset Management and Prudential Financial, also increased their NVST positions, while an Envista senior vice president sold 8,000 shares under a pre-arranged Rule 10b5-1 plan.
• Envista exceeded quarterly expectations with $0.41 in adjusted earnings per share versus a $0.34 consensus estimate and revenue of $730.5 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $29.31.

Bank of New York Mellon Corp acquired a new stake in Envista Holdings Corporation (NYSE:NVST - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,416,163 shares of the company's stock, valued at approximately $37,316,000. Bank of New York Mellon Corp owned approximately 0.87% of Envista as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVST. Royal Bank of Canada raised its holdings in shares of Envista by 26.6% in the 1st quarter. Royal Bank of Canada now owns 23,240 shares of the company's stock worth $401,000 after buying an additional 4,885 shares in the last quarter. Millennium Management LLC lifted its position in shares of Envista by 218.6% during the 1st quarter. Millennium Management LLC now owns 383,966 shares of the company's stock worth $6,627,000 after buying an additional 263,442 shares during the period. Goldman Sachs Group Inc. boosted its stake in Envista by 39.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 629,140 shares of the company's stock valued at $10,859,000 after buying an additional 177,630 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Envista by 15.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 568,982 shares of the company's stock valued at $9,821,000 after buying an additional 76,246 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Envista by 22.1% in the second quarter. Prudential Financial Inc. now owns 18,785 shares of the company's stock valued at $367,000 after acquiring an additional 3,395 shares during the period.

Insider Activity at Envista

In related news, SVP Mischa Reis sold 8,000 shares of the company's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $27.50, for a total value of $220,000.00. Following the completion of the sale, the senior vice president owned 27,321 shares in the company, valued at $751,327.50. This represents a 22.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVST. Piper Sandler reaffirmed a "neutral" rating and issued a $28.00 target price (up from $26.00) on shares of Envista in a report on Thursday, August 6th. Robert W. Baird set a $34.00 price target on shares of Envista in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their price objective on shares of Envista from $26.00 to $29.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Envista from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 6th. Finally, Barclays cut their target price on shares of Envista from $34.00 to $32.00 and set an "overweight" rating for the company in a research note on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, Envista has an average rating of "Moderate Buy" and an average target price of $29.31.

Envista Price Performance

NVST opened at $27.15 on Friday. The company has a fifty day moving average price of $27.12 and a two-hundred day moving average price of $26.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.43. Envista Holdings Corporation has a 52 week low of $18.77 and a 52 week high of $30.42. The firm has a market capitalization of $4.36 billion, a PE ratio of 46.81, a P/E/G ratio of 1.31 and a beta of 0.86.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.07. The company had revenue of $730.50 million for the quarter, compared to the consensus estimate of $716.11 million. Envista had a return on equity of 7.88% and a net margin of 3.33%.The firm's quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.26 EPS. Envista has set its FY 2026 guidance at 1.500-1.550 EPS. As a group, analysts anticipate that Envista Holdings Corporation will post 1.53 earnings per share for the current year.

Envista Profile

Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company's offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.

Envista's product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.

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