Envista Holdings Co. (NYSE:NVST) Stake Reduced by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,849,567 shares of the company's stock after selling 46,086 shares during the quarter. Geode Capital Management LLC owned 1.66% of Envista worth $54,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in NVST. Franklin Resources Inc. boosted its holdings in shares of Envista by 72.6% during the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company's stock worth $132,223,000 after purchasing an additional 2,882,844 shares during the last quarter. Norges Bank acquired a new stake in Envista in the 4th quarter worth about $38,052,000. Pzena Investment Management LLC purchased a new stake in Envista in the 4th quarter valued at about $16,979,000. Raymond James Financial Inc. acquired a new position in shares of Envista during the 4th quarter valued at about $10,808,000. Finally, Lightrock Netherlands B.V. purchased a new position in shares of Envista during the 4th quarter worth about $5,193,000.

Envista Stock Up 1.1 %

Shares of NVST traded up $0.17 during trading on Friday, reaching $15.19. The company's stock had a trading volume of 2,104,731 shares, compared to its average volume of 2,486,019. 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 company has a fifty day moving average of $17.82 and a two-hundred day moving average of $19.21. The company has a market cap of $2.62 billion, a price-to-earnings ratio of -2.34, a P/E/G ratio of 1.27 and a beta of 1.12. Envista Holdings Co. has a twelve month low of $14.22 and a twelve month high of $23.00.

Envista (NYSE:NVST - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. On average, sell-side analysts predict that Envista Holdings Co. will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Morgan Stanley set a $16.00 price objective on shares of Envista in a research note on Tuesday. UBS Group dropped their price target on Envista from $23.00 to $21.00 and set a "neutral" rating for the company in a research note on Monday, March 10th. Jefferies Financial Group lifted their price objective on Envista from $20.00 to $22.00 and gave the company a "hold" rating in a research note on Thursday, January 23rd. New Street Research set a $19.00 target price on shares of Envista in a research report on Thursday, March 6th. Finally, Piper Sandler lifted their price target on shares of Envista from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $19.96.

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.