Envestnet Asset Management Inc. Acquires 71,828 Shares of Envista Holdings Corporation (NYSE:NVST)

Envestnet Asset Management Inc. boosted its holdings in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 55.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 200,708 shares of the company's stock after purchasing an additional 71,828 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Envista worth $3,464,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. lifted its position in shares of Envista by 214.4% in the 1st quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock worth $36,000 after acquiring an additional 1,428 shares during the period. Mitsubishi UFJ Trust & Banking Corp bought a new position in shares of Envista during the 4th quarter worth approximately $86,000. Palouse Capital Management Inc. lifted its position in shares of Envista by 14.4% during the 1st quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock worth $163,000 after buying an additional 1,186 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Envista by 51.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,057 shares of the company's stock worth $213,000 after buying an additional 3,751 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of Envista by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 11,105 shares of the company's stock worth $214,000 after buying an additional 3,888 shares during the period.

Analyst Ratings Changes

Several research firms recently commented on NVST. Piper Sandler cut their target price on Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Bank of America cut their target price on Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Baird R W upgraded Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. UBS Group cut their target price on Envista from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Finally, Evercore ISI raised 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. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Envista presently has an average rating of "Hold" and an average target price of $20.23.

Envista Stock Performance

Shares of Envista stock opened at $20.81 on Friday. The firm 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. The stock's 50-day moving average is $19.11 and its 200-day moving average is $18.57. Envista Holdings Corporation has a one year low of $14.22 and a one year high of $23.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.12 and a quick ratio of 1.82.

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 analysts' consensus estimates of $0.20 by $0.04. The company had revenue of $616.90 million for the quarter, compared to analyst estimates of $608.17 million. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The company's quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.26 earnings per share. Equities analysts predict that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

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.

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