Pzena Investment Management LLC Raises Holdings in Envista Holdings Corporation (NYSE:NVST)

Pzena Investment Management LLC raised its stake in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 160.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,294,257 shares of the company's stock after buying an additional 1,414,080 shares during the quarter. Pzena Investment Management LLC owned about 1.35% of Envista worth $39,599,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NVST. Treasurer of the State of North Carolina grew its holdings in shares of Envista by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 75,560 shares of the company's stock worth $1,458,000 after purchasing an additional 480 shares in the last quarter. Xponance Inc. grew its holdings in shares of Envista by 5.8% during the fourth quarter. Xponance Inc. now owns 19,726 shares of the company's stock worth $381,000 after purchasing an additional 1,077 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in shares of Envista by 14.4% during the first quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock worth $163,000 after purchasing an additional 1,186 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of Envista by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock worth $5,566,000 after purchasing an additional 1,272 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Envista by 214.4% during the first quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock worth $36,000 after purchasing an additional 1,428 shares in the last quarter.

Envista Stock Performance

NYSE:NVST traded down $0.29 on Friday, hitting $19.46. The stock had a trading volume of 1,980,932 shares, compared to its average volume of 2,465,036. Envista Holdings Corporation has a 52-week low of $14.22 and a 52-week high of $23.00. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of -2.98, a price-to-earnings-growth ratio of 1.23 and a beta of 1.00. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.43. The business's 50-day simple moving average is $18.91 and its two-hundred day simple moving average is $18.53.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The firm had revenue of $616.90 million for the quarter, compared to analysts' expectations of $608.17 million. During the same period in the previous year, the firm earned $0.26 EPS. The business's quarterly revenue was down 1.1% on a year-over-year basis. As a group, research analysts predict that Envista Holdings Corporation will post 1 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $21.00 to $23.00 in a research report on Tuesday, May 27th. Piper Sandler dropped their target price on Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley set a $16.00 price objective on Envista in a research report on Tuesday, April 15th. Evercore ISI boosted their price objective on Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Finally, Baird R W upgraded Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. 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 presently has an average rating of "Hold" and an average price target of $20.23.

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.