Profit Investment Management LLC Raises Stock Holdings in Envista Holdings Corporation $NVST

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 boosted its holdings in Envista Holdings Corporation (NYSE:NVST - Free Report) by 36.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 173,788 shares of the company's stock after acquiring an additional 46,191 shares during the quarter. Envista comprises about 3.1% of Profit Investment Management LLC's investment portfolio, making the stock its 3rd biggest holding. Profit Investment Management LLC owned 0.10% of Envista worth $3,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVST. Alliancebernstein L.P. raised its holdings in Envista by 1,985.1% during the 1st quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company's stock worth $78,547,000 after buying an additional 4,332,541 shares during the period. Dimensional Fund Advisors LP raised its holdings in Envista by 24.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company's stock worth $144,760,000 after buying an additional 1,625,206 shares during the period. Pzena Investment Management LLC raised its holdings in Envista by 160.7% during the 1st quarter. Pzena Investment Management LLC now owns 2,294,257 shares of the company's stock worth $39,599,000 after buying an additional 1,414,080 shares during the period. Trexquant Investment LP raised its holdings in Envista by 243.7% during the 1st quarter. Trexquant Investment LP now owns 1,065,849 shares of the company's stock worth $18,397,000 after buying an additional 755,725 shares during the period. Finally, Gates Capital Management Inc. raised its holdings in Envista by 10.0% during the 1st quarter. Gates Capital Management Inc. now owns 5,163,745 shares of the company's stock worth $89,126,000 after buying an additional 469,597 shares during the period.

Envista Trading Up 0.2%

Envista stock traded up $0.05 during mid-day trading on Tuesday, hitting $20.94. The stock had a trading volume of 380,379 shares, compared to its average volume of 2,474,563. The stock has a 50-day simple moving average of $20.63 and a two-hundred day simple moving average of $18.66. The stock has a market capitalization of $3.48 billion, a PE ratio of 65.43, a P/E/G ratio of 1.12 and a beta of 0.99. Envista Holdings Corporation has a 12 month low of $14.22 and a 12 month high of $23.00. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The business had revenue of $682.10 million for the quarter, compared to analysts' expectations of $638.21 million. Envista had a return on equity of 4.84% and a net margin of 2.11%.The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.11 earnings per share. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. As a group, sell-side analysts forecast that Envista Holdings Corporation will post 1 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on NVST shares. UBS Group boosted their price objective on Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Wells Fargo & Company boosted their price target on Envista from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Piper Sandler boosted their price target on Envista from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Morgan Stanley upped their target price on Envista from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Finally, Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $21.00 to $23.00 in a report on Tuesday, May 27th. 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 issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $20.92.

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.