Envestnet Asset Management Inc. Has $3.46 Million Stake in Envista Holdings Corporation (NYSE:NVST)

Key Points

• Envestnet Asset Management Inc. acquired an additional 71,828 shares of Envista Holdings Corporation, increasing its holdings by 55.7% to a total of 200,708 shares valued at approximately $3.46 million.
• Analyst ratings for Envista show mixed opinions, with target prices ranging from $17.00 to $23.00 and a current average rating of "Hold."
• Envista recently reported an earnings per share (EPS) of $0.24, exceeding analysts' expectations, despite a 1.1% year-over-year decline in quarterly revenue.

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

Several other institutional investors also recently bought and sold shares of NVST. Franklin Resources Inc. lifted its stake in Envista by 72.6% during the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company's stock worth $132,223,000 after purchasing an additional 2,882,844 shares during the last quarter. Brickwood Asset Management LLP acquired a new stake in Envista during the fourth quarter worth about $40,037,000. Norges Bank acquired a new position in Envista in the fourth quarter valued at approximately $38,052,000. Dimensional Fund Advisors LP lifted its holdings in shares of Envista by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock worth $130,440,000 after purchasing an additional 1,089,923 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C grew its stake in Envista by 4,949.9% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,018,415 shares of the company's stock worth $19,645,000 after buying an additional 998,248 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NVST shares. Bank of America cut their price target on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. UBS Group lifted their target price on Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday. Evercore ISI increased their price target on Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Baird R W raised Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. Finally, Morgan Stanley set a $16.00 price objective on shares of Envista in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Envista presently has an average rating of "Hold" and a consensus target price of $20.54.

Envista Price Performance

Shares of NYSE NVST traded down $0.28 during trading on Wednesday, hitting $20.02. The company had a trading volume of 2,318,181 shares, compared to its average volume of 1,865,680. Envista Holdings Corporation has a 52 week low of $14.22 and a 52 week high of $23.00. The business's 50-day moving average is $19.29 and its 200 day moving average is $18.60. The company has a market cap of $3.39 billion, a P/E ratio of -3.07, a PEG ratio of 1.28 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.82 and a current ratio of 2.12.

Envista (NYSE:NVST - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The business had revenue of $616.90 million for the quarter, compared to analysts' expectations of $608.17 million. During the same period in the previous year, the firm posted $0.26 EPS. The company's quarterly revenue was down 1.1% on a year-over-year basis. Equities research analysts predict that Envista Holdings Corporation will post 1 earnings per share for the current fiscal 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.