Vestcor Inc Invests $211,000 in Envista Holdings Corporation (NYSE:NVST)

Key Points

• Vestcor Inc has acquired a new stake in Envista Holdings Corporation, purchasing 12,211 shares valued at approximately $211,000 during the first quarter.
• Envista reported a quarterly earnings result of $0.26 EPS, exceeding analysts' expectations, with revenue of $682.10 million, marking a 7.7% increase compared to the previous year.
• Analyst ratings for Envista show a mixed outlook, with an average target price of $20.92 and several upgrades recently, indicating varying levels of confidence among investment analysts.

Vestcor Inc purchased a new stake in Envista Holdings Corporation (NYSE:NVST - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,211 shares of the company's stock, valued at approximately $211,000.

Other large investors have also recently added to or reduced their stakes in the company. Brickwood Asset Management LLP acquired a new stake in shares of Envista in the fourth quarter valued at approximately $40,037,000. Pzena Investment Management LLC boosted its stake in 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 purchasing an additional 1,414,080 shares during the period. Dimensional Fund Advisors LP boosted its stake in Envista by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock worth $130,440,000 after purchasing an additional 1,089,923 shares during the period. Deerfield Management Company L.P. Series C boosted its stake in shares of Envista by 4,949.9% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 1,018,415 shares of the company's stock valued at $19,645,000 after buying an additional 998,248 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Envista by 288.2% during the 4th quarter. Ameriprise Financial Inc. now owns 1,075,344 shares of the company's stock valued at $20,743,000 after buying an additional 798,366 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. UBS Group raised their price target on shares of Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Mizuho boosted their price objective on shares of Envista from $15.00 to $18.00 and gave the stock an "underperform" rating in a report on Friday, August 1st. Evercore ISI lifted their target price on shares of Envista from $19.00 to $23.00 and gave the company an "outperform" rating in a research report on Wednesday, July 9th. Stifel Nicolaus boosted their target price on shares of Envista from $24.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and boosted their price target for the stock from $21.00 to $23.00 in a research note on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Envista presently has an average rating of "Hold" and a consensus target price of $20.92.

Envista Trading Up 0.5%

Envista stock traded up $0.11 during mid-day trading on Friday, hitting $20.20. 462,046 shares of the stock were exchanged, compared to its average volume of 2,617,509. 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 simple moving average is $19.58 and its two-hundred day simple moving average is $18.63. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 63.13, a PEG ratio of 1.06 and a beta of 1.00.

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

Envista 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.