M&G Plc Makes New $5.72 Million Investment in Envista Holdings Co. (NYSE:NVST)

M&G Plc bought a new position in Envista Holdings Co. (NYSE:NVST) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 272,330 shares of the company’s stock, valued at approximately $5,719,000. M&G Plc owned approximately 0.16% of Envista at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Fifth Third Bancorp raised its position in Envista by 98.1% in the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares during the period. Signaturefd LLC boosted its stake in shares of Envista by 1,297.9% during the 4th quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after purchasing an additional 2,427 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Envista by 538.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,209 shares of the company’s stock valued at $77,000 after purchasing an additional 2,706 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Envista by 15.4% during the 4th quarter. Van ECK Associates Corp now owns 5,646 shares of the company’s stock valued at $136,000 after purchasing an additional 755 shares in the last quarter. Finally, Johnson Financial Group Inc. bought a new stake in shares of Envista during the 4th quarter valued at about $136,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a research note on Friday, May 3rd. Evercore ISI dropped their price objective on shares of Envista from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research note on Tuesday. Robert W. Baird dropped their price objective on shares of Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Envista from $29.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $22.85.

Envista Price Performance

Shares of NVST traded up $0.07 during mid-day trading on Friday, reaching $16.57. The stock had a trading volume of 2,361,547 shares, compared to its average volume of 2,920,874. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.93 and a current ratio of 2.27. The business has a fifty day moving average of $17.50 and a 200 day moving average of $20.29. Envista Holdings Co. has a 12 month low of $15.69 and a 12 month high of $36.14. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of -23.01, a PEG ratio of 13.81 and a beta of 1.31.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $634.85 million. During the same quarter in the prior year, the company posted $0.38 EPS. Envista’s revenue was down .6% compared to the same quarter last year. Equities analysts predict that Envista Holdings Co. will post 1.19 EPS for the current year.

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.