Envista Holdings Corporation $NVST Stock Holdings Cut by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd has significantly reduced its stake in Envista Holdings Corporation by 59.9%, now holding 17,241 shares valued at $337,000.
• Several other institutional investors, including Parallel Advisors LLC, have increased their investments in Envista, reflecting mixed sentiment among hedge funds.
• Envista reported better-than-expected earnings, with EPS of $0.26 for the last quarter, surpassing estimates, and announced a FY 2025 guidance of 1.050-1.15 EPS.

Bayforest Capital Ltd reduced its position in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 59.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,241 shares of the company's stock after selling 25,741 shares during the quarter. Bayforest Capital Ltd's holdings in Envista were worth $337,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Envista by 100.1% during the 2nd quarter. Parallel Advisors LLC now owns 2,792 shares of the company's stock valued at $55,000 after purchasing an additional 1,397 shares in the last quarter. FourThought Financial Partners LLC bought a new position in Envista during the 1st quarter valued at $180,000. Vestcor Inc bought a new position in Envista during the 1st quarter valued at $211,000. Aigen Investment Management LP bought a new position in Envista during the 1st quarter valued at $274,000. Finally, State of Wyoming boosted its stake in Envista by 121.1% during the 1st quarter. State of Wyoming now owns 16,911 shares of the company's stock valued at $292,000 after purchasing an additional 9,264 shares in the last quarter.

Envista Stock Performance

Shares of Envista stock opened at $19.58 on Thursday. The stock has a market cap of $3.25 billion, a PE ratio of 61.20, a price-to-earnings-growth ratio of 1.04 and a beta of 1.01. The business has a fifty day simple moving average of $20.67 and a 200-day simple moving average of $19.00. The company has a quick ratio of 2.08, a current ratio of 2.44 and a debt-to-equity ratio of 0.46. Envista Holdings Corporation has a 12 month low of $14.22 and a 12 month high of $23.00.

Envista (NYSE:NVST - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.26 EPS for the quarter, topping the consensus estimate of $0.24 by $0.02. The business had revenue of $682.10 million during 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%.Envista's revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the firm 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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVST. Evercore ISI set a $25.00 price objective on Envista in a research note on Wednesday, October 8th. Piper Sandler raised their price objective on Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. UBS Group raised their price objective on Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Weiss Ratings reissued a "sell (d)" rating on shares of Envista in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company raised their price objective on Envista from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $21.08.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.