Bayforest Capital Ltd Purchases 38,915 Shares of Envista Holdings Corporation (NYSE:NVST)

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

Several other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its stake in Envista by 1,338.3% during the 1st quarter. GAMMA Investing LLC now owns 33,139 shares of the company's stock valued at $572,000 after purchasing an additional 30,835 shares during the last quarter. Two Sigma Advisers LP raised its stake in shares of Envista by 66.6% in the fourth quarter. Two Sigma Advisers LP now owns 47,800 shares of the company's stock worth $922,000 after acquiring an additional 19,100 shares during the last quarter. Comerica Bank raised its position in shares of Envista by 8.2% during the fourth quarter. Comerica Bank now owns 121,851 shares of the company's stock worth $2,350,000 after acquiring an additional 9,248 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Envista by 220.5% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 47,319 shares of the company's stock valued at $817,000 after purchasing an additional 32,556 shares during the period. Finally, Norges Bank acquired a new stake in Envista in the fourth quarter worth $38,052,000.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVST. Baird R W raised Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Wells Fargo & Company raised their price target on shares of Envista from $17.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday. Morgan Stanley boosted their price objective on shares of Envista from $16.00 to $17.00 and gave the stock an "equal weight" rating in a research report on Friday. Robert W. Baird upgraded shares of Envista from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $21.00 to $23.00 in a research note on Tuesday, May 27th. Finally, Bank of America lowered their target price on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $20.92.

Envista Stock Up 10.0%

NVST stock traded up $1.89 during trading on Friday, reaching $20.78. The stock had a trading volume of 6,198,369 shares, compared to its average volume of 2,628,731. The company's 50 day moving average is $19.33 and its two-hundred day moving average is $18.60. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.43. Envista Holdings Corporation has a one year low of $14.22 and a one year high of $23.00. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -3.18, a P/E/G ratio of 1.26 and a beta of 1.00.

Envista (NYSE:NVST - Get Free Report) last issued its 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. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The firm had revenue of $682.10 million for the quarter, compared to analyst estimates of $638.21 million. During the same period in the previous year, the company posted $0.11 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that Envista Holdings Corporation will post 1 EPS for the current 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.