Franklin Resources Inc. Purchases 830,861 Shares of Envista Holdings Co. (NYSE:NVST)

Franklin Resources Inc. grew its holdings in Envista Holdings Co. (NYSE:NVST - Free Report) by 26.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,971,662 shares of the company's stock after purchasing an additional 830,861 shares during the quarter. Franklin Resources Inc. owned about 2.31% of Envista worth $78,480,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in Envista in the 3rd quarter worth approximately $31,000. GAMMA Investing LLC raised its position in shares of Envista by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $35,000 after acquiring an additional 726 shares during the last quarter. Huntington National Bank raised its position in shares of Envista by 97.8% during the third quarter. Huntington National Bank now owns 1,919 shares of the company's stock worth $38,000 after acquiring an additional 949 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Envista by 69.7% during the third quarter. Blue Trust Inc. now owns 1,957 shares of the company's stock valued at $39,000 after acquiring an additional 804 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Envista by 50.8% in the third 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.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Leerink Partners upgraded shares of Envista from an "underperform" rating to a "market perform" rating and upped their target price for the company from $16.00 to $23.00 in a research report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of Envista from $18.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Wells Fargo & Company started coverage on shares of Envista in a report on Tuesday, October 8th. They set an "equal weight" rating and a $20.00 target price for the company. Evercore ISI increased their price target on Envista from $18.00 to $23.00 and gave the company an "outperform" rating in a research note on Monday, September 23rd. Finally, Leerink Partnrs raised Envista from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $20.65.

Envista Stock Down 1.7 %

Shares of NYSE:NVST traded down $0.33 during trading on Tuesday, hitting $19.24. 1,886,989 shares of the company's stock traded hands, compared to its average volume of 2,364,804. The company has a 50-day moving average price of $20.10 and a 200-day moving average price of $18.44. Envista Holdings Co. has a 52 week low of $15.15 and a 52 week high of $25.64. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.31 billion, a price-to-earnings ratio of -2.47, a price-to-earnings-growth ratio of 2.71 and a beta of 1.31.

Envista (NYSE:NVST - Get Free Report) last released 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 analysts' expectations 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 quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. As a group, research analysts forecast that Envista Holdings Co. will post 0.72 EPS for the current fiscal year.

About Envista

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.