Retirement Systems of Alabama Sells 289,515 Shares of Envista Holdings Co. (NYSE:NVST)

Retirement Systems of Alabama cut its position in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 58.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 209,257 shares of the company's stock after selling 289,515 shares during the quarter. Retirement Systems of Alabama owned about 0.12% of Envista worth $4,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Nuance Investments LLC boosted its holdings in Envista by 4.4% in the third quarter. Nuance Investments LLC now owns 7,346,534 shares of the company's stock worth $145,168,000 after acquiring an additional 308,221 shares in the last quarter. Clarkston Capital Partners LLC boosted its holdings in Envista by 0.4% in the third quarter. Clarkston Capital Partners LLC now owns 4,347,300 shares of the company's stock worth $85,903,000 after acquiring an additional 17,085 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Envista by 26.5% during the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company's stock valued at $78,480,000 after purchasing an additional 830,861 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Envista by 22.2% during the third quarter. Pacer Advisors Inc. now owns 3,529,827 shares of the company's stock valued at $69,749,000 after purchasing an additional 642,401 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Envista by 2.5% during the third quarter. Geode Capital Management LLC now owns 2,895,653 shares of the company's stock valued at $57,233,000 after purchasing an additional 71,435 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Robert W. Baird upped their price target on Envista from $17.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Piper Sandler upped their price target on Envista from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. Leerink Partnrs raised Envista from a "strong sell" rating to a "hold" rating in a report on Thursday, October 31st. Stifel Nicolaus upped their price target on Envista from $18.00 to $21.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Morgan Stanley upped their price target on Envista from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.21.

Envista Stock Performance

NVST traded up $0.08 during midday trading on Friday, reaching $21.59. The company had a trading volume of 957,228 shares, compared to its average volume of 2,183,121. The company has a quick ratio of 1.77, a current ratio of 2.04 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average of $19.93 and a two-hundred day moving average of $19.29. The company has a market cap of $3.71 billion, a P/E ratio of -3.33, a P/E/G ratio of 2.06 and a beta of 1.34. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $23.06.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.24 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 research analysts predict that Envista Holdings Co. will post 1.06 earnings per share 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.