Gates Capital Management Inc. Has $90.55 Million Stake in Envista Holdings Co. (NYSE:NVST)

Gates Capital Management Inc. raised its stake in Envista Holdings Co. (NYSE:NVST - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,694,148 shares of the company's stock after acquiring an additional 615,577 shares during the period. Envista accounts for about 1.7% of Gates Capital Management Inc.'s investment portfolio, making the stock its 19th biggest holding. Gates Capital Management Inc. owned about 2.73% of Envista worth $90,550,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NVST. Deutsche Bank AG raised its holdings in Envista by 3.5% during the fourth quarter. Deutsche Bank AG now owns 119,521 shares of the company's stock worth $2,306,000 after purchasing an additional 4,008 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its holdings in Envista by 4,949.9% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,018,415 shares of the company's stock worth $19,645,000 after purchasing an additional 998,248 shares in the last quarter. Crestline Management LP bought a new stake in Envista in the fourth quarter worth $1,636,000. Caption Management LLC boosted its holdings in Envista by 56.7% during the fourth quarter. Caption Management LLC now owns 30,087 shares of the company's stock valued at $580,000 after acquiring an additional 10,887 shares during the period. Finally, Centiva Capital LP bought a new stake in Envista during the fourth quarter valued at about $894,000.

Envista Trading Down 2.4%

NVST stock traded down $0.44 during midday trading on Wednesday, reaching $18.17. The company's stock had a trading volume of 201,831 shares, compared to its average volume of 2,516,309. Envista Holdings Co. has a 52 week low of $14.22 and a 52 week high of $23.00. The stock has a market cap of $3.08 billion, a PE ratio of -2.80, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97. The company has a quick ratio of 1.76, a current ratio of 2.04 and a debt-to-equity ratio of 0.44. The business's 50-day simple moving average is $16.50 and its 200-day simple moving average is $18.99.

Envista (NYSE:NVST - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The company had revenue of $616.90 million for the quarter, compared to analyst estimates of $608.17 million. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. The business's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. As a group, sell-side analysts expect that Envista Holdings Co. will post 1 EPS for the current year.

Analysts Set New Price Targets

NVST has been the subject of a number of research analyst reports. UBS Group cut their price objective on shares of Envista from $21.00 to $18.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Needham & Company LLC reissued a "hold" rating on shares of Envista in a research report on Thursday, March 6th. Robert W. Baird set a $21.00 price target on shares of Envista in a research report on Friday, May 2nd. Morgan Stanley set a $16.00 price target on shares of Envista in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company set a $19.00 price target on shares of Envista in a research report on Saturday, March 8th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $20.08.

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.