Norges Bank Purchases New Position in Envista Holdings Co. (NYSE:NVST)

Norges Bank bought a new stake in shares of Envista Holdings Co. (NYSE:NVST - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,972,618 shares of the company's stock, valued at approximately $38,052,000. Norges Bank owned about 1.15% of Envista at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Envista by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 425,502 shares of the company's stock worth $8,408,000 after purchasing an additional 3,199 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Envista by 8.9% during the third quarter. Janus Henderson Group PLC now owns 1,369,810 shares of the company's stock valued at $27,067,000 after acquiring an additional 112,288 shares during the period. XTX Topco Ltd acquired a new position in shares of Envista during the third quarter valued at $704,000. M&T Bank Corp boosted its holdings in shares of Envista by 42.9% during the third quarter. M&T Bank Corp now owns 15,945 shares of the company's stock valued at $315,000 after acquiring an additional 4,787 shares during the period. Finally, Vestcor Inc boosted its holdings in shares of Envista by 344.4% during the third quarter. Vestcor Inc now owns 54,249 shares of the company's stock valued at $1,072,000 after acquiring an additional 42,041 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler lifted their price objective on shares of Envista from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. UBS Group dropped their price target on shares of Envista from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Monday, March 10th. Morgan Stanley dropped their price target on shares of Envista from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 6th. New Street Research set a $19.00 price target on shares of Envista in a research report on Thursday, March 6th. Finally, Jefferies Financial Group boosted their price target on shares of Envista from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, January 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Envista has a consensus rating of "Hold" and an average price target of $20.18.

Envista Stock Performance

NYSE NVST traded down $0.98 on Thursday, hitting $15.46. 492,788 shares of the stock traded hands, compared to its average volume of 2,823,720. Envista Holdings Co. has a 12 month low of $14.22 and a 12 month high of $23.00. The business's fifty day moving average is $18.59 and its two-hundred day moving average is $19.40. 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 $2.66 billion, a price-to-earnings ratio of -2.38, a PEG ratio of 1.27 and a beta of 1.12.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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, equities analysts anticipate that Envista Holdings Co. will post 1 EPS for the current fiscal 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.