Principal Financial Group Inc. Sells 173,943 Shares of Envista Holdings Co. (NYSE:NVST)

Principal Financial Group Inc. cut its position in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 30.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 398,446 shares of the company's stock after selling 173,943 shares during the quarter. Principal Financial Group Inc. owned 0.23% of Envista worth $7,873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Envista during the third quarter valued at $31,000. GAMMA Investing LLC lifted its stake in Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $35,000 after acquiring an additional 726 shares in the last quarter. Huntington National Bank grew its stake in Envista by 97.8% during the 3rd quarter. Huntington National Bank now owns 1,919 shares of the company's stock valued at $38,000 after acquiring an additional 949 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Envista by 69.7% in 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, 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 purchasing an additional 728 shares during the period.

Wall Street Analyst Weigh In

NVST has been the topic of a number of research analyst reports. Leerink Partners raised shares of Envista from an "underperform" rating to a "market perform" rating and boosted their price objective for the company from $16.00 to $23.00 in a research report on Thursday, October 31st. Needham & Company LLC restated a "hold" rating on shares of Envista in a report on Thursday, October 31st. Piper Sandler upped their price target on shares of Envista from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Mizuho initiated coverage on Envista in a research note on Wednesday, December 4th. They issued an "underperform" rating and a $20.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on Envista from $18.00 to $21.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Envista presently has an average rating of "Hold" and a consensus price target of $20.65.

Envista Stock Performance

NYSE:NVST traded up $0.18 during midday trading on Wednesday, reaching $19.29. The stock had a trading volume of 931,494 shares, compared to its average volume of 2,356,968. The stock has a market capitalization of $3.32 billion, a P/E ratio of -2.48, a PEG ratio of 2.71 and a beta of 1.31. 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 firm's fifty day simple moving average is $20.25 and its 200-day simple moving average is $18.48.

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

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.