Principal Financial Group Inc. Has $12.28 Million Stake in Envista Holdings Corporation $NVST

Key Points

• Principal Financial Group increased its Envista stake by 36.8% in the first quarter, ending with 483,983 shares valued at about $12.28 million.
• Envista reported stronger-than-expected quarterly results, posting EPS of $0.36 versus estimates of $0.31 and revenue of $705.5 million, up 14.4% year over year.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating with an average target price of $28.54, while recent ratings changes included both upgrades and downgrades.

Principal Financial Group Inc. raised its stake in Envista Holdings Corporation (NYSE:NVST - Free Report) by 36.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 483,983 shares of the company's stock after buying an additional 130,237 shares during the quarter. Principal Financial Group Inc. owned 0.30% of Envista worth $12,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NVST. Millennium Management LLC boosted its stake in Envista by 1,442.7% in the 4th quarter. Millennium Management LLC now owns 2,420,615 shares of the company's stock worth $52,552,000 after purchasing an additional 2,263,712 shares during the period. Holocene Advisors LP bought a new stake in Envista during the second quarter worth $43,936,000. Norges Bank bought a new position in Envista during the fourth quarter worth about $45,113,000. Alliancebernstein L.P. increased its holdings in shares of Envista by 34.0% during the 2nd quarter. Alliancebernstein L.P. now owns 6,098,445 shares of the company's stock worth $119,164,000 after acquiring an additional 1,547,656 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in Envista during the 4th quarter valued at $29,046,000.

Envista Stock Performance

NYSE:NVST opened at $26.34 on Friday. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 64.26, a PEG ratio of 1.48 and a beta of 0.86. Envista Holdings Corporation has a fifty-two week low of $18.77 and a fifty-two week high of $30.42. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.06 and a current ratio of 2.44. The stock has a fifty day moving average price of $25.19 and a 200-day moving average price of $25.74.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The business had revenue of $705.50 million for the quarter, compared to analysts' expectations of $680.03 million. Envista had a net margin of 2.41% and a return on equity of 7.11%. The firm's quarterly revenue was up 14.4% compared to the same quarter last year. During the same period last year, the firm posted $0.24 earnings per share. Envista has set its FY 2026 guidance at 1.350-1.450 EPS. As a group, equities analysts anticipate that Envista Holdings Corporation will post 1.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Envista from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Barclays cut their price objective on shares of Envista from $34.00 to $32.00 and set an "overweight" rating for the company in a research report on Thursday, June 11th. Morgan Stanley increased their target price on Envista from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, April 24th. Evercore reissued an "outperform" rating and set a $33.00 price target on shares of Envista in a report on Thursday, May 7th. Finally, Wall Street Zen lowered Envista from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 9th. Six investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $28.54.

Envista Company Profile

Envista Holdings Corporation is a global dental products company that develops, manufactures and markets a broad portfolio of dental consumables, equipment and technology solutions. Headquartered in Brea, California, Envista serves dental practitioners, specialists and laboratories in more than 150 countries. The company's offerings span implant, orthodontic, endodontic and restorative product lines as well as digital imaging systems and practice management software.

Envista's product brands include Nobel Biocare for dental implants and restorative solutions, Ormco for orthodontic appliances and treatment systems, Kerr for restorative and endodontic materials, KaVo for dental imaging and handpieces, and Vista for surgical drills and instruments.

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