Envista Holdings Corporation $NVST is Profit Investment Management LLC's 3rd Largest Position

Key Points

• Profit Investment Management LLC has increased its holdings in Envista Holdings Corporation (NYSE: NVST) by 36.2%, making it the firm's 3rd largest position, accounting for 3.1% of its investment portfolio.
• Envista announced quarterly earnings of $0.26 per share, surpassing estimates, along with a revenue of $682.10 million, reflecting a year-over-year increase of 7.7%.
• The stock is currently rated as a "Hold" by analysts, with an average target price of $20.92, reflecting a range of ratings from "Strong Buy" to "Sell" among different brokerages.

Profit Investment Management LLC increased its holdings in Envista Holdings Corporation (NYSE:NVST - Free Report) by 36.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,788 shares of the company's stock after purchasing an additional 46,191 shares during the period. Envista accounts for 3.1% of Profit Investment Management LLC's investment portfolio, making the stock its 3rd biggest position. Profit Investment Management LLC owned about 0.10% of Envista worth $3,396,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its position in shares of Envista by 214.4% in the first 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. Parallel Advisors LLC boosted its holdings in Envista by 100.1% in the second quarter. Parallel Advisors LLC now owns 2,792 shares of the company's stock valued at $55,000 after acquiring an additional 1,397 shares during the last quarter. Palouse Capital Management Inc. boosted its holdings in Envista by 14.4% in the first quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock valued at $163,000 after acquiring an additional 1,186 shares during the last quarter. FourThought Financial Partners LLC acquired a new position in Envista in the first quarter valued at $180,000. Finally, Vestcor Inc acquired a new position in Envista in the first quarter valued at $211,000.

Envista Stock Down 0.6%

Shares of Envista stock opened at $20.91 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.44 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.47 billion, a P/E ratio of 65.35, a P/E/G ratio of 1.12 and a beta of 0.99. Envista Holdings Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $23.00. The business has a 50-day moving average price of $20.62 and a 200 day moving average price of $18.63.

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. The firm had revenue of $682.10 million during the quarter, compared to analyst estimates of $638.21 million. Envista had a return on equity of 4.84% and a net margin of 2.11%.Envista's quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. On average, sell-side analysts forecast that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NVST. Zacks Research cut Envista from a "strong-buy" rating to a "hold" rating in a report on Monday, September 15th. Wall Street Zen cut Envista from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. Mizuho lifted their target price on Envista from $15.00 to $18.00 and gave the company an "underperform" rating in a report on Friday, August 1st. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $21.00 to $23.00 in a report on Tuesday, May 27th. Finally, Wells Fargo & Company lifted their target price on Envista from $17.00 to $19.00 and gave the company an "equal weight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Envista currently has an average 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.

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