Magnetar Financial LLC Makes New $1.15 Million Investment in Envista Holdings Corporation $NVST

Key Points

• Magnetar Financial LLC acquired a new stake in Envista Holdings Corporation, purchasing 66,689 shares valued at approximately $1,151,000 during the first quarter.
• Envista's quarterly earnings report revealed a profit of $0.26 EPS, surpassing analysts' expectations of $0.24, with revenue growth of 7.7% year-over-year.
• Analysts have mixed ratings on Envista, with one strong buy, four buy ratings, and an average target price of $20.92, indicating cautious optimism among experts.

Magnetar Financial LLC acquired a new position in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 66,689 shares of the company's stock, valued at approximately $1,151,000.

Several other institutional investors also recently made changes to their positions in NVST. State of Wyoming raised its stake in shares of Envista by 121.1% in the first quarter. State of Wyoming now owns 16,911 shares of the company's stock valued at $292,000 after acquiring an additional 9,264 shares during the last quarter. Trexquant Investment LP lifted its holdings in shares of Envista by 243.7% during the 1st quarter. Trexquant Investment LP now owns 1,065,849 shares of the company's stock worth $18,397,000 after acquiring an additional 755,725 shares during the period. Ieq Capital LLC bought a new position in shares of Envista during the first quarter valued at $752,000. Jump Financial LLC acquired a new stake in Envista in the first quarter worth $1,107,000. Finally, AlphaQuest LLC bought a new position in shares of Envista in the first quarter valued at $458,000.

Envista Trading Up 2.3%

NYSE NVST traded up $0.49 on Friday, reaching $21.27. The company had a trading volume of 734,673 shares, compared to its average volume of 2,514,647. The business has a 50 day moving average of $20.41 and a two-hundred day moving average of $18.59. 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 debt-to-equity ratio of 0.46, a current ratio of 2.44 and a quick ratio of 2.08. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of 66.46, a P/E/G ratio of 1.09 and a beta of 0.99.

Envista (NYSE:NVST - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.26 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 firm had revenue of $682.10 million for the quarter, compared to analysts' expectations of $638.21 million. During the same quarter last year, the firm earned $0.11 EPS. The company's quarterly revenue was up 7.7% compared to the same quarter last year. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. Analysts forecast that Envista Holdings Corporation will post 1 EPS for the current year.

Wall Street Analyst Weigh In

NVST has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Envista from $16.00 to $17.00 and gave the company an "equal weight" 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, August 30th. Evercore ISI increased their price target on shares of Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Piper Sandler raised their price objective on shares of 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 shares of Envista from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $21.00 to $23.00 in a research note on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Envista currently has a consensus rating of "Hold" and a consensus target price 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.