Envista Holdings Corporation (NYSE:NVST) Stock Holdings Increased by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd significantly increased its stake in Envista Holdings Corporation by 956.8% in Q1, acquiring a total of 42,982 shares valued at approximately $742,000.
• Envista Holdings reported $0.24 earnings per share (EPS) for the last quarter, surpassing the consensus estimate of $0.20, though revenue declined 1.1% year-over-year to $616.90 million.
• Equities analysts have mixed ratings on Envista, with a consensus rating of "Hold" and a price target average of $20.54, while some firms have upgraded their ratings recently.

Bayforest Capital Ltd boosted its stake in Envista Holdings Corporation (NYSE:NVST - Free Report) by 956.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,982 shares of the company's stock after acquiring an additional 38,915 shares during the period. Bayforest Capital Ltd's holdings in Envista were worth $742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVST. KLP Kapitalforvaltning AS purchased a new position in Envista in the fourth quarter worth $691,000. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Envista in the fourth quarter valued at $86,000. Norges Bank acquired a new position in shares of Envista during the 4th quarter worth $38,052,000. New Age Alpha Advisors LLC purchased a new stake in shares of Envista in the 4th quarter worth about $447,000. Finally, Pictet Asset Management Holding SA grew its stake in Envista by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,338 shares of the company's stock valued at $469,000 after acquiring an additional 4,121 shares during the last quarter.

Envista Stock Up 10.0%

NYSE NVST traded up $1.89 during trading hours on Friday, hitting $20.78. The company had a trading volume of 6,198,369 shares, compared to its average volume of 2,233,196. The firm's 50 day moving average is $19.41 and its 200 day moving average is $18.61. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.12 and a quick ratio of 1.82. Envista Holdings Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $23.00. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 64.94, a P/E/G ratio of 1.19 and a beta of 1.00.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.02. Envista had a net margin of 2.11% and a return on equity of 4.89%. The firm had revenue of $682.10 million for the quarter, compared to analyst estimates of $638.21 million. During the same quarter in the previous year, the business posted $0.11 EPS. The firm's revenue was up 7.7% compared to the same quarter last year. Sell-side analysts anticipate that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen raised Envista from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Bank of America dropped their target price on Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Evercore ISI raised 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. UBS Group upped their price objective on shares of Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Baird R W upgraded shares of Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $20.92.

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.