Gates Capital Management Inc. Buys 469,597 Shares of Envista Holdings Corporation $NVST

Key Points

• Gates Capital Management Inc. increased its stake in Envista Holdings Corporation by 10% during Q1, acquiring an additional 469,597 shares to hold a total of 5,163,745 shares valued at approximately $89 million.
• Envista reported quarterly earnings of $0.26 EPS, surpassing analysts' expectations of $0.24, with revenue reaching $682.1 million, up 7.7% year-over-year.
• Analysts have mixed ratings on Envista, with one strong buy, four buy, nine hold, and one sell rating, and an average target price of $20.92.

Gates Capital Management Inc. raised its holdings in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 10.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,163,745 shares of the company's stock after purchasing an additional 469,597 shares during the quarter. Envista makes up approximately 1.7% of Gates Capital Management Inc.'s portfolio, making the stock its 18th largest holding. Gates Capital Management Inc. owned 3.05% of Envista worth $89,126,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ariel Investments LLC increased its position in shares of Envista by 6.2% during the fourth quarter. Ariel Investments LLC now owns 12,059,624 shares of the company's stock valued at $232,630,000 after buying an additional 699,625 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Envista by 24.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company's stock worth $144,760,000 after purchasing an additional 1,625,206 shares in the last quarter. Clarkston Capital Partners LLC grew its holdings in shares of Envista by 9.3% during the first quarter. Clarkston Capital Partners LLC now owns 4,686,747 shares of the company's stock worth $80,893,000 after purchasing an additional 398,672 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Envista by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,375,109 shares of the company's stock worth $40,994,000 after purchasing an additional 57,478 shares in the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of Envista by 160.7% during the first quarter. Pzena Investment Management LLC now owns 2,294,257 shares of the company's stock worth $39,599,000 after purchasing an additional 1,414,080 shares in the last quarter.

Wall Street Analyst Weigh In

NVST has been the subject of several research reports. Wall Street Zen lowered Envista from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 30th. UBS Group upped their target price on Envista from $18.00 to $22.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Mizuho lifted their price target on Envista from $15.00 to $18.00 and gave the stock an "underperform" rating in a research note on Friday, August 1st. Piper Sandler lifted their price target on Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Robert W. Baird raised Envista from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $21.00 to $23.00 in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Envista presently has an average rating of "Hold" and a consensus target price of $20.92.

Envista Trading Up 2.3%

Shares of NVST stock traded up $0.47 during trading hours on Thursday, reaching $20.77. The company's stock had a trading volume of 2,587,152 shares, compared to its average volume of 2,520,669. The stock has a market capitalization of $3.45 billion, a P/E ratio of 64.89, a P/E/G ratio of 1.13 and a beta of 0.99. Envista Holdings Corporation has a one year low of $14.22 and a one year high of $23.00. The firm's fifty day simple moving average is $20.39 and its 200 day simple moving average is $18.60. 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 released its earnings results on Thursday, July 31st. The company reported $0.26 EPS for the quarter, beating 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 return on equity of 4.84% and a net margin of 2.11%.The firm's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. Equities research analysts expect that Envista Holdings Corporation will post 1 EPS for the current year.

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.