Bayforest Capital Ltd Boosts 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 raised its stake in shares of 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 quarter. Bayforest Capital Ltd's holdings in Envista were worth $742,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NVST. Alliancebernstein L.P. grew its holdings in Envista by 1,985.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company's stock valued at $78,547,000 after buying an additional 4,332,541 shares in the last quarter. Brickwood Asset Management LLP purchased a new position in Envista during the 4th quarter valued at about $40,037,000. Dimensional Fund Advisors LP boosted its position in shares of Envista by 24.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company's stock valued at $144,760,000 after acquiring an additional 1,625,206 shares during the last quarter. Pzena Investment Management LLC boosted its position in shares of Envista by 160.7% during the 1st quarter. Pzena Investment Management LLC now owns 2,294,257 shares of the company's stock valued at $39,599,000 after acquiring an additional 1,414,080 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of Envista by 288.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,075,344 shares of the company's stock valued at $20,743,000 after acquiring an additional 798,366 shares during the last quarter.

Envista Trading Down 2.6%

NVST stock traded down $0.56 during midday trading on Friday, hitting $21.05. The company 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 52 week low of $14.22 and a 52 week high of $23.00. The stock's 50 day moving average price is $20.54 and its 200 day moving average price is $18.58. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 65.77, a PEG ratio of 1.16 and a beta of 0.99.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVST. Piper Sandler lifted their price target on Envista from $17.00 to $19.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Mizuho lifted their price target on Envista from $15.00 to $18.00 and gave the company an "underperform" rating in a research report on Friday, August 1st. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $21.00 to $23.00 in a research report on Tuesday, May 27th. Evercore ISI boosted their target price on Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen downgraded Envista from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. 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 given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $20.92.

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.