Vestcor Inc Takes $211,000 Position 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 bought a new position in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 12,211 shares of the company's stock, valued at approximately $211,000.

Several other institutional investors also recently modified their holdings of NVST. Pictet Asset Management Holding SA grew its position in shares of Envista by 20.4% in the 4th quarter. Pictet Asset Management Holding SA now owns 24,338 shares of the company's stock valued at $469,000 after purchasing an additional 4,121 shares during the period. California Public Employees Retirement System grew its position in shares of Envista by 0.4% in the 4th quarter. California Public Employees Retirement System now owns 288,546 shares of the company's stock valued at $5,566,000 after purchasing an additional 1,272 shares during the period. Treasurer of the State of North Carolina grew its position in shares of Envista by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 75,560 shares of the company's stock valued at $1,458,000 after purchasing an additional 480 shares during the period. Sterling Capital Management LLC grew its position in shares of Envista by 53.9% in the 4th quarter. Sterling Capital Management LLC now owns 11,105 shares of the company's stock valued at $214,000 after purchasing an additional 3,888 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Envista by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock valued at $130,440,000 after purchasing an additional 1,089,923 shares during the period.

Envista Trading Down 1.9%

NYSE NVST traded down $0.38 during trading hours on Wednesday, hitting $19.69. 2,572,088 shares of the company's stock were exchanged, compared to its average volume of 2,634,180. The stock has a 50-day simple moving average of $19.53 and a 200 day simple moving average of $18.62. Envista Holdings Corporation has a 1-year low of $14.22 and a 1-year high of $23.00. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 61.53, a PEG ratio of 1.10 and a beta of 1.00. The company has a current ratio of 2.44, a quick ratio of 2.08 and a debt-to-equity ratio of 0.46.

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

Analyst Ratings Changes

NVST has been the subject of several research analyst reports. 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. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $21.00 to $23.00 in a research note on Tuesday, May 27th. Piper Sandler boosted their target price on Envista from $17.00 to $19.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Bank of America cut their target price on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Finally, Baird R W upgraded Envista from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Envista currently has an average rating of "Hold" and an average target price of $20.92.

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.