Tweedy Browne Co LLC Lowers Stake in Envista Holdings Corporation $NVST

Key Points

• Tweedy Browne Co LLC reduced its stake in Envista Holdings by 2.4%, now holding 1,460,413 shares, which accounts for 2.6% of its investment portfolio.
• Envista Holdings reported Q2 earnings of $0.26 per share, exceeding analyst expectations, with a revenue of $682.10 million, reflecting a 7.7% year-over-year increase.
• Analysts currently have a consensus rating of "Hold" on Envista, with the average price target set at $21.08.

Tweedy Browne Co LLC cut its position in Envista Holdings Corporation (NYSE:NVST - Free Report) by 2.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,460,413 shares of the company's stock after selling 36,421 shares during the period. Envista accounts for about 2.6% of Tweedy Browne Co LLC's investment portfolio, making the stock its 9th biggest position. Tweedy Browne Co LLC owned 0.86% of Envista worth $28,536,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Parallel Advisors LLC raised its holdings in Envista by 100.1% in the second quarter. Parallel Advisors LLC now owns 2,792 shares of the company's stock worth $55,000 after purchasing an additional 1,397 shares during the period. FourThought Financial Partners LLC acquired a new stake in Envista in the first quarter valued at $180,000. Vestcor Inc acquired a new stake in Envista in the first quarter valued at $211,000. Aigen Investment Management LP acquired a new stake in shares of Envista during the 1st quarter worth about $274,000. Finally, State of Wyoming lifted its stake in shares of Envista by 121.1% during the 1st quarter. State of Wyoming now owns 16,911 shares of the company's stock worth $292,000 after buying an additional 9,264 shares during the last quarter.

Envista Stock Up 0.5%

Envista stock opened at $19.70 on Friday. The company has a quick ratio of 2.08, a current ratio of 2.44 and a debt-to-equity ratio of 0.46. Envista Holdings Corporation has a 12-month low of $14.22 and a 12-month high of $23.00. The firm's fifty day moving average is $20.66 and its 200 day moving average is $19.02. The company has a market capitalization of $3.27 billion, a PE ratio of 61.56, a PEG ratio of 1.05 and a beta of 1.01.

Envista (NYSE:NVST - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. The company had revenue of $682.10 million for 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%. Envista's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 EPS. Envista has set its FY 2025 guidance at 1.050-1.15 EPS. As a group, sell-side analysts predict that Envista Holdings Corporation will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Zacks Research cut shares of Envista from a "strong-buy" rating to a "hold" rating in a research note on Monday, September 15th. Piper Sandler raised their target price on shares of Envista from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Evercore ISI set a $25.00 target price on shares of Envista in a report on Wednesday, October 8th. UBS Group raised their target price on shares of Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Mizuho lifted their price target on shares of Envista from $15.00 to $18.00 and gave the company an "underperform" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $21.08.

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.

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