Diamond Hill Capital Management Inc. Increases Stake in Envista Holdings Co. (NYSE:NVST)

Diamond Hill Capital Management Inc. increased its holdings in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 8.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,335,710 shares of the company's stock after acquiring an additional 100,360 shares during the quarter. Diamond Hill Capital Management Inc. owned approximately 0.78% of Envista worth $26,394,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Envista by 3,271.2% during the first quarter. SG Americas Securities LLC now owns 144,522 shares of the company's stock valued at $3,090,000 after acquiring an additional 140,235 shares during the period. M&G Plc lifted its position in Envista by 12.5% in the 2nd quarter. M&G Plc now owns 306,253 shares of the company's stock worth $5,206,000 after buying an additional 33,923 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Envista by 287.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 169,648 shares of the company's stock worth $2,821,000 after buying an additional 125,861 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Envista by 110.9% during the 1st quarter. Quadrature Capital Ltd now owns 69,004 shares of the company's stock valued at $1,476,000 after purchasing an additional 36,290 shares in the last quarter. Finally, Nuance Investments LLC raised its holdings in shares of Envista by 47.2% during the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company's stock valued at $117,048,000 after purchasing an additional 2,256,993 shares in the last quarter.

Envista Stock Up 2.8 %

Shares of Envista stock traded up $0.58 during trading on Monday, reaching $20.97. 725,582 shares of the company traded hands, compared to its average volume of 2,424,156. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.77. Envista Holdings Co. has a 1-year low of $15.15 and a 1-year high of $25.64. The company has a 50 day moving average price of $18.92 and a 200-day moving average price of $18.09. The firm has a market capitalization of $3.61 billion, a PE ratio of -2.62, a P/E/G ratio of 2.87 and a beta of 1.30.

Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The company had revenue of $601.00 million during 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 firm's revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. As a group, equities research analysts expect that Envista Holdings Co. will post 0.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on NVST shares. Piper Sandler lifted their target price on shares of Envista from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Leerink Partners upgraded shares of Envista from an "underperform" rating to a "market perform" rating and increased their price objective for the company from $16.00 to $23.00 in a report on Thursday, October 31st. Evercore ISI increased their price objective on shares of Envista from $18.00 to $23.00 and gave the stock an "outperform" rating in a research report on Monday, September 23rd. 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 report on Thursday, October 31st. Finally, Leerink Partnrs raised shares of Envista from a "strong sell" rating to a "hold" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Envista has a consensus rating of "Hold" and a consensus 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.