Massachusetts Financial Services Co. MA Has $37.64 Million Holdings in Envista Holdings Corporation (NYSE:NVST)

Massachusetts Financial Services Co. MA reduced its position in Envista Holdings Corporation (NYSE:NVST - Free Report) by 33.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,180,996 shares of the company's stock after selling 1,090,179 shares during the period. Massachusetts Financial Services Co. MA owned about 1.29% of Envista worth $37,644,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NVST. Franklin Resources Inc. lifted its stake in Envista by 72.6% in the 4th quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company's stock valued at $132,223,000 after purchasing an additional 2,882,844 shares during the last quarter. Brickwood Asset Management LLP acquired a new stake in Envista in the 4th quarter valued at about $40,037,000. Norges Bank acquired a new stake in Envista in the 4th quarter valued at about $38,052,000. Dimensional Fund Advisors LP lifted its stake in Envista by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock valued at $130,440,000 after purchasing an additional 1,089,923 shares during the last quarter. Finally, Deerfield Management Company L.P. Series C lifted its stake in Envista by 4,949.9% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,018,415 shares of the company's stock valued at $19,645,000 after purchasing an additional 998,248 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NVST. Evercore ISI raised their target price on shares of Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, July 9th. Robert W. Baird upgraded shares of Envista from a "neutral" rating to an "outperform" rating and raised their price objective for the stock from $21.00 to $23.00 in a research report on Tuesday, May 27th. Bank of America cut their price objective on shares of Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Morgan Stanley set a $16.00 price objective on shares of Envista in a research report on Tuesday, April 15th. Finally, UBS Group cut their price objective on shares of Envista from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Envista has a consensus rating of "Hold" and an average target price of $20.23.

Envista Price Performance

NYSE:NVST traded down $0.04 during mid-day trading on Monday, reaching $19.47. The stock had a trading volume of 1,551,441 shares, compared to its average volume of 1,796,088. The stock has a 50-day simple moving average of $18.91 and a two-hundred day simple moving average of $18.53. The stock has a market capitalization of $3.30 billion, a PE ratio of 27.48, a P/E/G ratio of 1.23 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.12 and a quick ratio of 1.82. 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 earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $616.90 million for the quarter, compared to analysts' expectations of $608.17 million. Envista had a negative net margin of 44.90% and a positive return on equity of 4.07%. The company's revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, equities analysts anticipate that Envista Holdings Corporation will post 1 earnings per share 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.