Diamond Hill Capital Management Inc. Has $16.40 Million Position in Envista Holdings Corporation (NYSE:NVST)

Diamond Hill Capital Management Inc. reduced its stake in Envista Holdings Corporation (NYSE:NVST - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 950,290 shares of the company's stock after selling 48,322 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.56% of Envista worth $16,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Treasurer of the State of North Carolina increased its stake in Envista by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 75,560 shares of the company's stock valued at $1,458,000 after acquiring an additional 480 shares during the last quarter. Xponance Inc. grew its stake in shares of Envista by 5.8% during the fourth quarter. Xponance Inc. now owns 19,726 shares of the company's stock valued at $381,000 after buying an additional 1,077 shares during the last quarter. Palouse Capital Management Inc. grew its holdings in Envista by 14.4% in the 1st quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock worth $163,000 after acquiring an additional 1,186 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Envista by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock worth $5,566,000 after buying an additional 1,272 shares during the last quarter. Finally, UMB Bank n.a. increased its position in Envista by 214.4% during the 1st 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 period.

Envista Price Performance

Shares of NYSE:NVST traded up $0.14 during trading hours on Friday, hitting $20.81. 2,267,160 shares of the company's stock traded hands, compared to its average volume of 1,861,461. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.82 and a current ratio of 2.12. The company's fifty day simple moving average is $19.11 and its two-hundred day simple moving average is $18.57. Envista Holdings Corporation has a 52 week low of $14.22 and a 52 week high of $23.00. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -3.19, a price-to-earnings-growth ratio of 1.31 and a beta of 1.00.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate 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 business had revenue of $616.90 million during the quarter, compared to the consensus estimate of $608.17 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm's quarterly revenue was down 1.1% on a year-over-year basis. As a group, equities analysts anticipate that Envista Holdings Corporation will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Baird R W upgraded shares of Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Bank of America lowered their target price on shares of Envista from $26.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Evercore ISI lifted their price objective on Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Piper Sandler reduced their price target on Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Robert W. Baird upgraded shares of Envista from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $21.00 to $23.00 in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Envista presently has an average rating of "Hold" and a consensus target price of $20.23.

Envista 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.