Thornburg Investment Management Inc. Raises Stock Position in Envista Holdings Co. (NYSE:NVST)

Thornburg Investment Management Inc. grew its holdings in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,617 shares of the company's stock after purchasing an additional 88,795 shares during the period. Thornburg Investment Management Inc. owned about 0.24% of Envista worth $9,927,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Headinvest LLC purchased a new stake in shares of Envista during the third quarter worth approximately $28,000. Fifth Third Bancorp increased its stake in shares of Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company's stock worth $30,000 after buying an additional 621 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Envista during the third quarter worth approximately $47,000. Covestor Ltd increased its stake in shares of Envista by 33.9% during the third quarter. Covestor Ltd now owns 2,462 shares of the company's stock worth $69,000 after buying an additional 624 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Envista by 1,297.9% during the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company's stock worth $63,000 after buying an additional 2,427 shares during the period.

Analyst Upgrades and Downgrades

NVST has been the topic of several recent analyst reports. Morgan Stanley lowered shares of Envista from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $33.00 to $21.00 in a research note on Friday, April 26th. SVB Leerink started coverage on shares of Envista in a research note on Monday, February 26th. They issued an "underperform" rating and a $19.00 price target on the stock. TheStreet downgraded Envista from a "c" rating to a "d+" rating in a report on Wednesday, February 7th. Robert W. Baird decreased their price objective on Envista from $22.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, May 2nd. Finally, Leerink Partnrs reissued an "underperform" rating on shares of Envista in a report on Monday, February 26th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, Envista presently has a consensus rating of "Hold" and an average target price of $25.86.

Envista Stock Performance

Shares of NYSE NVST traded down $0.31 during mid-day trading on Wednesday, hitting $18.86. 1,736,074 shares of the company were exchanged, compared to its average volume of 2,304,689. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of $20.34 and a 200-day simple moving average of $22.20. Envista Holdings Co. has a 1-year low of $18.09 and a 1-year high of $36.14. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of -26.19, a price-to-earnings-growth ratio of 15.03 and a beta of 1.35.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The company had revenue of $623.60 million for the quarter, compared to analyst estimates of $634.85 million. During the same period in the prior year, the business earned $0.38 earnings per share. Envista's revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts forecast that Envista Holdings Co. will post 1.26 EPS for the current fiscal 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.

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