Bayforest Capital Ltd Grows Position in Envista Holdings Corporation $NVST

Key Points

• Bayforest Capital Ltd increased its stake in Envista Holdings Corporation by 956.8%, owning 42,982 shares valued at $742,000 after acquiring an additional 38,915 shares in the first quarter.
• Several institutional investors, including Goldman Sachs and UBS, also raised their holdings in Envista, indicating increased institutional interest in the company.
• Envista achieved a quarterly earnings per share of $0.26, exceeding estimates, with revenues of $682.10 million, representing a 7.7% year-over-year increase.

Bayforest Capital Ltd boosted its stake in Envista Holdings Corporation (NYSE:NVST - Free Report) by 956.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,982 shares of the company's stock after buying an additional 38,915 shares during the period. Bayforest Capital Ltd's holdings in Envista were worth $742,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in Envista by 214.4% during the first quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock valued at $36,000 after purchasing an additional 1,428 shares during the last quarter. Palouse Capital Management Inc. lifted its stake in Envista by 14.4% in the 1st quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock valued at $163,000 after acquiring an additional 1,186 shares in the last quarter. FourThought Financial Partners LLC bought a new stake in shares of Envista during the 1st quarter worth approximately $180,000. Vestcor Inc acquired a new position in shares of Envista during the 1st quarter worth approximately $211,000. Finally, Aigen Investment Management LP acquired a new position in Envista in the 1st quarter valued at $274,000.

Analyst Ratings Changes

Several research firms have recently issued reports on NVST. Mizuho increased their target price on Envista from $15.00 to $18.00 and gave the stock an "underperform" rating in a report on Friday, August 1st. Piper Sandler raised their price objective on Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen downgraded Envista from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. Morgan Stanley raised their price objective on Envista from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Robert W. Baird upgraded 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 report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Envista currently has an average rating of "Hold" and a consensus target price of $20.92.

Envista Trading Down 2.6%

NVST stock traded down $0.56 during mid-day trading on Friday, reaching $21.05. The company's stock had a trading volume of 1,223,509 shares, 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. Envista Holdings Corporation has a 12 month low of $14.22 and a 12 month high of $23.00. The business's 50 day moving average price is $20.54 and its 200 day moving average price is $18.57. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 65.77, a price-to-earnings-growth ratio of 1.16 and a beta of 0.99.

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