Heartland Advisors Inc. Raises Holdings in Envista Holdings Corporation (NYSE:NVST)

Key Points

• Heartland Advisors Inc. increased its holdings in Envista Holdings Corporation by 99.3% during the first quarter, owning about 0.25% of the company valued at $7.39 million after acquiring additional shares.
• A variety of large investors, including the Treasurer of the State of North Carolina and Principal Financial Group Inc., also modified their stakes in Envista, indicating growing interest in the company among institutional investors.
• Analysts have mixed views on Envista's stock, with a current average rating of "Hold" and a target price of $20.23, while several firms have adjusted their price targets within a range of $16.00 to $26.00.

Heartland Advisors Inc. increased its stake in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 99.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,995 shares of the company's stock after purchasing an additional 213,218 shares during the quarter. Heartland Advisors Inc. owned 0.25% of Envista worth $7,387,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVST. UMB Bank n.a. boosted its position in shares of Envista by 214.4% during the 1st quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock worth $36,000 after acquiring an additional 1,428 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Envista during the 4th quarter worth about $86,000. Palouse Capital Management Inc. boosted its position in shares of Envista by 14.4% during the 1st quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock worth $163,000 after acquiring an additional 1,186 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Envista by 51.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 11,057 shares of the company's stock worth $213,000 after acquiring an additional 3,751 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its position in shares of Envista by 53.9% during the 4th quarter. Sterling Capital Management LLC now owns 11,105 shares of the company's stock worth $214,000 after acquiring an additional 3,888 shares in the last quarter.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Baird R W raised Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Evercore ISI boosted their target price on Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a report on Wednesday, July 9th. Bank of America reduced their target price on Envista from $26.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Piper Sandler reduced their target price on Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Wednesday, April 30th. Finally, Morgan Stanley set a $16.00 target price on Envista in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has given 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 $20.54.

Envista Stock Performance

NVST traded up $0.02 on Wednesday, hitting $20.32. 595,903 shares of the company traded hands, compared to its average volume of 2,551,596. The company has a 50 day moving average of $19.23 and a 200-day moving average of $18.59. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.44 billion, a PE ratio of -3.11, a PEG ratio of 1.31 and a beta of 1.00. 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 posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $616.90 million during the quarter, compared to the consensus estimate of $608.17 million. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The firm's revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. Sell-side analysts anticipate that Envista Holdings Corporation will post 1 earnings per share 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.