Arizona State Retirement System Acquires 1,006 Shares of Envista Holdings Co. (NYSE:NVST)

Arizona State Retirement System grew its stake in Envista Holdings Co. (NYSE:NVST) by 2.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,111 shares of the company’s stock after purchasing an additional 1,006 shares during the quarter. Arizona State Retirement System’s holdings in Envista were worth $800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after buying an additional 944,596 shares during the last quarter. Ariel Investments LLC boosted its stake in Envista by 25.3% during the 1st quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock worth $190,115,000 after acquiring an additional 1,795,258 shares during the last quarter. Franklin Resources Inc. grew its holdings in Envista by 65.3% during the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after purchasing an additional 2,077,786 shares during the period. Nuance Investments LLC increased its stake in Envista by 21.6% in the first quarter. Nuance Investments LLC now owns 4,781,320 shares of the company’s stock valued at $102,224,000 after purchasing an additional 850,266 shares in the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in Envista by 32.9% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,936,916 shares of the company’s stock worth $48,841,000 after purchasing an additional 727,406 shares during the period.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NVST shares. Needham & Company LLC reissued a “hold” rating on shares of Envista in a report on Thursday, August 8th. Bank of America lowered their price target on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Evercore ISI decreased their price objective on Envista from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Piper Sandler dropped their target price on shares of Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. Finally, Stifel Nicolaus cut their price target on shares of Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.14.

Envista Stock Performance

NVST opened at $19.41 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. The business’s 50-day simple moving average is $17.13 and its 200 day simple moving average is $18.55. The firm has a market capitalization of $3.34 billion, a PE ratio of -26.96 and a beta of 1.31. Envista Holdings Co. has a 52-week low of $15.15 and a 52-week high of $29.80.

Envista (NYSE:NVST) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). The company had revenue of $633.10 million during the quarter, compared to analyst estimates of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 EPS. As a group, sell-side analysts expect that Envista Holdings Co. will post 0.69 earnings per share for the current fiscal year.

Insider Activity

In other Envista news, CFO Eric D. Hammes bought 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the purchase, the chief financial officer now owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.30% of the stock is owned by insiders.

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.