Edgestream Partners L.P. Purchases 127,430 Shares of Envista Holdings Co. (NYSE:NVST)

Edgestream Partners L.P. grew its stake in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 520.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 151,925 shares of the company's stock after buying an additional 127,430 shares during the quarter. Edgestream Partners L.P. owned approximately 0.09% of Envista worth $3,002,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVST. GAMMA Investing LLC raised its position in Envista by 69.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $35,000 after purchasing an additional 726 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Envista by 50.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company's stock worth $43,000 after acquiring an additional 728 shares during the period. Victory Capital Management Inc. boosted its holdings in Envista by 2.3% in the second quarter. Victory Capital Management Inc. now owns 36,021 shares of the company's stock valued at $599,000 after acquiring an additional 800 shares during the last quarter. Blue Trust Inc. increased its position in Envista by 69.7% during the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company's stock valued at $39,000 after purchasing an additional 804 shares during the period. Finally, Huntington National Bank raised 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 purchasing an additional 949 shares during the last quarter.

Envista Stock Up 0.1 %

Shares of Envista stock traded up $0.02 during trading hours on Monday, reaching $22.31. The company's stock had a trading volume of 1,605,268 shares, compared to its average volume of 2,382,641. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.08. The stock's fifty day simple moving average is $19.79 and its two-hundred day simple moving average is $18.28. The company has a market capitalization of $3.84 billion, a P/E ratio of -2.88, a P/E/G ratio of 3.10 and a beta of 1.30. Envista Holdings Co. has a one year low of $15.15 and a one year high of $25.64.

Envista (NYSE:NVST - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The business had revenue of $601.00 million during the quarter, compared to the consensus estimate of $590.34 million. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The company's quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.43 EPS. On average, research analysts forecast that Envista Holdings Co. will post 0.72 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Leerink Partners upgraded shares of Envista from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $16.00 to $23.00 in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded Envista from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Wells Fargo & Company initiated coverage on Envista in a research note on Tuesday, October 8th. They issued an "equal weight" rating and a $20.00 price objective on the stock. Piper Sandler raised their target price on Envista from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Leerink Partnrs raised Envista from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.71.

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.