Clarkston Capital Partners LLC Lowers Stake in Envista Holdings Corporation $NVST

Key Points

• Clarkston Capital Partners cut its stake in Envista Holdings by 71.9% in the first quarter, selling over 3 million shares and leaving it with 1.18 million shares valued at about $30 million.
• Envista reported better-than-expected Q1 earnings of $0.36 per share, beating estimates, while revenue rose 14.4% year over year to $705.5 million.
• Wall Street remains cautious overall: analysts have a Hold consensus rating on NVST, with an average price target of $28.54.

Clarkston Capital Partners LLC lessened its stake in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 71.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,182,055 shares of the company's stock after selling 3,029,680 shares during the quarter. Envista makes up about 2.3% of Clarkston Capital Partners LLC's portfolio, making the stock its 14th biggest position. Clarkston Capital Partners LLC owned approximately 0.73% of Envista worth $29,989,000 as of its most recent filing with the Securities and Exchange Commission.

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

Envista Price Performance

Shares of NVST opened at $26.14 on Friday. The firm has a market capitalization of $4.25 billion, a PE ratio of 63.75, a price-to-earnings-growth ratio of 1.50 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.44 and a quick ratio of 2.06. Envista Holdings Corporation has a 1-year low of $18.77 and a 1-year high of $30.42. The company's fifty day moving average price is $25.13 and its 200-day moving average price is $25.74.

Envista (NYSE:NVST - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.05. Envista had a return on equity of 7.11% and a net margin of 2.41%.The company had revenue of $705.50 million during the quarter, compared to analyst estimates of $680.03 million. During the same quarter last year, the business posted $0.24 EPS. The firm's quarterly revenue was up 14.4% on a year-over-year basis. Envista has set its FY 2026 guidance at 1.350-1.450 EPS. On average, equities research analysts predict that Envista Holdings Corporation will post 1.42 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NVST. Wall Street Zen downgraded shares of Envista from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. Morgan Stanley increased their target price on shares of Envista from $19.00 to $21.00 and gave the company an "equal weight" rating in a research report on Friday, April 24th. Evercore restated an "outperform" rating and issued a $33.00 target price on shares of Envista in a research note on Thursday, May 7th. Barclays cut their price target on shares of Envista from $34.00 to $32.00 and set an "overweight" rating on the stock in a report on Thursday, June 11th. Finally, Citigroup started coverage on Envista in a research report on Wednesday, April 15th. They set a "neutral" rating and a $29.00 price target on the stock. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, Envista has a consensus rating of "Hold" and an average price target of $28.54.

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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