Royce & Associates LP Increases Position in Envista Holdings Co. (NYSE:NVST)

Royce & Associates LP boosted its holdings in Envista Holdings Co. (NYSE:NVST) by 6.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 278,904 shares of the company’s stock after purchasing an additional 16,547 shares during the period. Royce & Associates LP owned about 0.16% of Envista worth $5,511,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NVST. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Envista in the 3rd quarter worth about $31,000. GAMMA Investing LLC increased its holdings in Envista by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $35,000 after buying an additional 726 shares during the last quarter. Huntington National Bank lifted its holdings in Envista by 97.8% during the 3rd quarter. Huntington National Bank now owns 1,919 shares of the company’s stock worth $38,000 after buying an additional 949 shares during the last quarter. Blue Trust Inc. grew its position in shares of Envista by 69.7% in the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after acquiring an additional 804 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Envista by 50.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after acquiring an additional 728 shares during the last quarter.

Envista Stock Performance

Shares of NVST opened at $20.61 on Tuesday. The firm has a market capitalization of $3.55 billion, a PE ratio of -2.65, a P/E/G ratio of 2.86 and a beta of 1.30. The company has a quick ratio of 1.77, a current ratio of 2.08 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $19.27 and a 200 day moving average price of $18.11. Envista Holdings Co. has a 52-week low of $15.15 and a 52-week high of $25.64.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.43 earnings per share. On average, sell-side analysts anticipate that Envista Holdings Co. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NVST shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a report on Thursday, October 31st. Robert W. Baird increased their price objective on shares of Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Evercore ISI raised their target price on shares of Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lowered Envista from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $23.00 to $16.00 in a report on Thursday, August 8th. Finally, Leerink Partners raised Envista from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $16.00 to $23.00 in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.71.

Envista Company 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.