Franklin Resources Inc. Increases Stock Position in Envista Holdings Co. (NYSE:NVST)

Franklin Resources Inc. grew its stake in Envista Holdings Co. (NYSE:NVST - Free Report) by 72.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,854,506 shares of the company's stock after purchasing an additional 2,882,844 shares during the period. Franklin Resources Inc. owned approximately 3.98% of Envista worth $132,223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in NVST. Norges Bank acquired a new position in shares of Envista in the 4th quarter valued at $38,052,000. Point72 Asset Management L.P. acquired a new stake in Envista during the 3rd quarter worth approximately $37,559,000. Polar Asset Management Partners Inc. grew its stake in shares of Envista by 375.6% in the third quarter. Polar Asset Management Partners Inc. now owns 1,497,250 shares of the company's stock worth $29,586,000 after acquiring an additional 1,182,450 shares in the last quarter. Pzena Investment Management LLC purchased a new stake in shares of Envista during the fourth quarter worth $16,979,000. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Envista in the third quarter valued at $14,965,000.

Analyst Ratings Changes

Several brokerages have weighed in on NVST. New Street Research set a $19.00 price target on Envista in a report on Thursday, March 6th. Piper Sandler boosted their price target on shares of Envista from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, February 3rd. JPMorgan Chase & Co. cut their price target on Envista from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley dropped their price objective on Envista from $20.00 to $19.00 and set an "equal weight" rating on the stock in a report on Thursday, March 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Envista in a research report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $20.18.

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Envista Price Performance

NVST traded down $0.33 on Monday, hitting $15.15. 908,119 shares of the company were exchanged, compared to its average volume of 2,446,288. Envista Holdings Co. has a fifty-two week low of $14.71 and a fifty-two week high of $23.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.76 and a current ratio of 2.04. The firm has a market capitalization of $2.61 billion, a P/E ratio of -2.34, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The business's fifty day moving average is $19.18 and its 200 day moving average is $19.53.

Envista (NYSE:NVST - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. As a group, sell-side analysts anticipate that Envista Holdings Co. will post 1 EPS for the current year.

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.