Envista Holdings Corporation $NVST Shares Sold by Iron Triangle Partners LP

Key Points

• Iron Triangle Partners LP reduced its stake in Envista Holdings Corporation by 44% during Q1, now holding approximately $21.28 million worth of stock.
• The company's recent earnings report showed $0.26 earnings per share, surpassing estimates, with revenue of $682.1 million, a 7.7% increase year-over-year.
• Analysts have mixed views with forecasts varying, including price target increases from firms like Stifel Nicolaus from $24.00 to $25.00 and UBS Group from $18.00 to $22.00.

Iron Triangle Partners LP decreased its holdings in Envista Holdings Corporation (NYSE:NVST - Free Report) by 44.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,232,798 shares of the company's stock after selling 967,202 shares during the period. Envista comprises approximately 3.4% of Iron Triangle Partners LP's portfolio, making the stock its 13th largest position. Iron Triangle Partners LP owned 0.73% of Envista worth $21,278,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Palouse Capital Management Inc. grew its stake in shares of Envista by 14.4% in the first 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. UMB Bank n.a. grew its stake in shares of Envista by 214.4% in the first 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. New Age Alpha Advisors LLC grew its stake in shares of Envista by 7.1% in the first quarter. New Age Alpha Advisors LLC now owns 24,842 shares of the company's stock worth $429,000 after acquiring an additional 1,655 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Envista by 0.5% in the first quarter. Principal Financial Group Inc. now owns 396,548 shares of the company's stock worth $6,844,000 after acquiring an additional 2,008 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in shares of Envista by 14.7% in the fourth quarter. Vise Technologies Inc. now owns 16,016 shares of the company's stock worth $309,000 after acquiring an additional 2,056 shares in the last quarter.

Envista Stock Performance

Shares of Envista stock traded down $0.49 during trading on Tuesday, reaching $20.69. The company's stock had a trading volume of 979,069 shares, compared to its average volume of 2,526,714. 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 current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46. The firm has a market cap of $3.44 billion, a PE ratio of 64.67, a P/E/G ratio of 1.13 and a beta of 0.99. The company has a 50-day moving average price of $20.33 and a two-hundred day moving average price of $18.57.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Envista had a net margin of 2.11% and a return on equity of 4.84%. The company had revenue of $682.10 million for the quarter, compared to the consensus estimate of $638.21 million. During the same period last year, the firm posted $0.11 EPS. Envista's revenue for the quarter was up 7.7% on a year-over-year basis. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. On average, analysts forecast that Envista Holdings Corporation will post 1 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on NVST shares. Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $21.00 to $23.00 in a research report on Tuesday, May 27th. Baird R W raised shares of Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Piper Sandler lifted their price objective on shares of Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Wall Street Zen cut shares of Envista from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Stifel Nicolaus lifted their price objective on shares of Envista from $24.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $20.92.

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.