Nuance Investments LLC Has $25.28 Million Holdings in Envista Holdings Corporation (NYSE:NVST)

Key Points

• Nuance Investments LLC significantly reduced its stake in Envista Holdings Corporation by 69.5%, selling over 3.3 million shares, leaving it with approximately 1.46 million shares, which now account for roughly 1.7% of its holdings.
• Other hedge funds have also adjusted their positions in Envista, with UMB Bank n.a. increasing its holdings by 214.4% and other firms like Palouse Capital Management and Tower Research Capital also making notable purchases.
• Wall Street analysts have mixed views on Envista, with price target revisions ranging from $17.00 to $26.00, and a current average rating of "Hold" based on a consensus assessment from various analysts.

Nuance Investments LLC decreased its position in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 69.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,464,372 shares of the company's stock after selling 3,337,842 shares during the quarter. Envista accounts for approximately 1.7% of Nuance Investments LLC's investment portfolio, making the stock its 17th largest position. Nuance Investments LLC owned 0.86% of Envista worth $25,275,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Ariel Investments LLC raised its stake in Envista by 6.2% during the fourth quarter. Ariel Investments LLC now owns 12,059,624 shares of the company's stock worth $232,630,000 after acquiring an additional 699,625 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Envista by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock worth $130,440,000 after acquiring an additional 1,089,923 shares in the last quarter. Gates Capital Management Inc. raised its stake in Envista by 15.1% during the fourth quarter. Gates Capital Management Inc. now owns 4,694,148 shares of the company's stock worth $90,550,000 after acquiring an additional 615,577 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Envista by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,375,109 shares of the company's stock worth $40,994,000 after acquiring an additional 57,478 shares in the last quarter. Finally, Pzena Investment Management LLC raised its stake in Envista by 160.7% during the first quarter. Pzena Investment Management LLC now owns 2,294,257 shares of the company's stock worth $39,599,000 after acquiring an additional 1,414,080 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages have commented on NVST. Piper Sandler boosted their target price on Envista from $17.00 to $19.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Bank of America lowered their target price on Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen raised Envista from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company upped their price objective on Envista from $17.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Finally, UBS Group upped their price objective on Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $20.92.

Envista Trading Up 3.3%

NYSE:NVST traded up $0.68 on Wednesday, reaching $21.57. 2,380,347 shares of the stock traded hands, compared to its average volume of 2,702,188. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 67.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.00. The company's 50 day moving average is $19.77 and its 200-day moving average is $18.62. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46. Envista Holdings Corporation has a 1-year low of $14.22 and a 1-year high of $23.00.

Envista (NYSE:NVST - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The business had revenue of $682.10 million during the quarter, compared to the consensus estimate of $638.21 million. Envista had a net margin of 2.11% and a return on equity of 4.84%. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. Equities research analysts anticipate that Envista Holdings Corporation will post 1 EPS for the current fiscal 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.