Envista Holdings Corporation (NYSE:NVST) Holdings Lifted by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Envista Holdings by 26.1% in the first quarter, now owning 664,284 shares valued at approximately $11.47 million.
• Envista reported earnings of $0.24 per share for the latest quarter, exceeding analysts' estimates, though revenue declined 1.1% year-over-year.
• Analysts have provided mixed reviews with price targets ranging from $16.00 to $26.00, maintaining a consensus rating of "Hold" and an average target price of $20.23.

Royce & Associates LP lifted its stake in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 26.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 664,284 shares of the company's stock after buying an additional 137,299 shares during the quarter. Royce & Associates LP owned 0.39% of Envista worth $11,466,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the business. Homestead Advisers Corp grew its stake in Envista by 34.9% during the 1st quarter. Homestead Advisers Corp now owns 294,400 shares of the company's stock valued at $5,081,000 after purchasing an additional 76,100 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Envista by 103.4% in the 1st quarter. Allianz Asset Management GmbH now owns 425,485 shares of the company's stock worth $7,344,000 after acquiring an additional 216,350 shares in the last quarter. Pzena Investment Management LLC grew its position in shares of Envista by 160.7% in the 1st 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. CWM LLC grew its position in shares of Envista by 309.7% in the 1st quarter. CWM LLC now owns 25,928 shares of the company's stock worth $448,000 after acquiring an additional 19,600 shares in the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Envista by 8.1% in the 1st quarter. New York State Common Retirement Fund now owns 450,101 shares of the company's stock worth $7,769,000 after acquiring an additional 33,855 shares in the last quarter.

Envista Price Performance

Shares of NYSE NVST traded down $0.41 during mid-day trading on Tuesday, reaching $20.33. The company had a trading volume of 1,074,849 shares, compared to its average volume of 2,552,019. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.45 billion, a PE ratio of -3.11, a P/E/G ratio of 1.31 and a beta of 1.00. The company has a 50-day moving average price of $19.17 and a two-hundred day moving average price of $18.58. 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 issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The business had revenue of $616.90 million for the quarter, compared to analysts' expectations of $608.17 million. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. The company's quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.26 EPS. On average, equities analysts anticipate that Envista Holdings Corporation will post 1 earnings per share for the current year.

Analysts Set New Price Targets

NVST has been the subject of several research reports. Piper Sandler decreased 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. Evercore ISI upped their price objective on Envista from $19.00 to $23.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Bank of America lowered their price objective on Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. UBS Group lifted their target price on Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Morgan Stanley set a $16.00 target price on Envista in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $20.54.

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.