Magnetar Financial LLC Buys New Holdings 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 stake in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 66,689 shares of the company's stock, valued at approximately $1,151,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake 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 purchasing an additional 3,751 shares during the period. Northern Trust Corp increased its position in shares of Envista by 21.2% during the fourth quarter. Northern Trust Corp now owns 1,751,643 shares of the company's stock worth $33,789,000 after purchasing an additional 306,019 shares in the last quarter. Comerica Bank boosted its holdings in Envista by 8.2% in 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 in the last quarter. Ariel Investments LLC increased its stake in Envista by 6.2% during the 4th quarter. Ariel Investments LLC now owns 12,059,624 shares of the company's stock valued at $232,630,000 after purchasing an additional 699,625 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in Envista by 125.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 521,643 shares of the company's stock worth $10,062,000 after acquiring an additional 290,643 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Envista Trading Up 1.8%

Shares of NVST traded up $0.37 during trading on Thursday, reaching $20.67. 1,648,458 shares of the company traded hands, compared to its average volume of 2,519,582. The stock has a 50-day simple moving average of $20.39 and a 200-day simple moving average of $18.60. The stock has a market cap of $3.43 billion, a PE ratio of 64.52, a price-to-earnings-growth ratio of 1.13 and a beta of 0.99. Envista Holdings Corporation has a twelve month low of $14.22 and a twelve month high of $23.00. The company has a quick ratio of 2.08, a current ratio of 2.44 and a debt-to-equity ratio of 0.46.

Envista (NYSE:NVST - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.26 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $638.21 million. During the same quarter last year, the firm earned $0.11 EPS. The firm'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 anticipate that Envista Holdings Corporation will post 1 earnings per share for the current year.

Envista 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.