Centerstone Investors LLC Reduces Position in Envista Holdings Corporation $NVST

Key Points

• Centerstone Investors LLC reduced its stake in Envista Holdings Corporation by 61.6%, now holding 30,397 shares valued at approximately $525,000.
• Envista's most recent quarterly earnings reported an EPS of $0.26, exceeding estimates and reflecting a 7.7% revenue increase compared to last year.
• The stock currently has a consensus price target of $20.92, with various analysts upgrading the rating from "hold" to "strong-buy."

Centerstone Investors LLC reduced its holdings in Envista Holdings Corporation (NYSE:NVST - Free Report) by 61.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,397 shares of the company's stock after selling 48,692 shares during the period. Envista comprises 1.2% of Centerstone Investors LLC's holdings, making the stock its 20th biggest position. Centerstone Investors LLC's holdings in Envista were worth $525,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Alliancebernstein L.P. boosted its holdings in shares of Envista by 1,985.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company's stock valued at $78,547,000 after acquiring an additional 4,332,541 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Envista by 36.0% in the 1st quarter. AQR Capital Management LLC now owns 1,451,131 shares of the company's stock valued at $24,466,000 after purchasing an additional 384,183 shares during the period. Ariel Investments LLC lifted its stake in shares of Envista by 0.7% in the 1st quarter. Ariel Investments LLC now owns 12,144,745 shares of the company's stock valued at $209,618,000 after purchasing an additional 85,121 shares during the period. Royal Bank of Canada lifted its stake in shares of Envista by 26.6% in the 1st quarter. Royal Bank of Canada now owns 23,240 shares of the company's stock valued at $401,000 after purchasing an additional 4,885 shares during the period. Finally, Gates Capital Management Inc. lifted its stake in shares of Envista by 10.0% in the 1st quarter. Gates Capital Management Inc. now owns 5,163,745 shares of the company's stock valued at $89,126,000 after purchasing an additional 469,597 shares during the period.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVST. Wall Street Zen cut shares of Envista from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. UBS Group boosted their target price on shares of Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. Morgan Stanley boosted their target price on shares of Envista from $16.00 to $17.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Stifel Nicolaus boosted their target price on shares of Envista from $24.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Finally, Baird R W upgraded shares of Envista from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Envista presently has an average rating of "Hold" and an average price target of $20.92.

Envista Price Performance

NYSE:NVST traded down $0.18 during trading hours on Monday, reaching $21.14. 1,429,697 shares of the company were exchanged, compared to its average volume of 2,515,609. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46. The stock's 50-day moving average is $20.44 and its 200-day moving average is $18.55. The firm has a market cap of $3.51 billion, a PE ratio of 66.05, a price-to-earnings-growth ratio of 1.14 and a beta of 0.99. Envista Holdings Corporation has a twelve month low of $14.22 and a twelve month high of $23.00.

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

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.