Front Street Capital Management Inc. Grows Position in Envista Holdings Co. (NYSE:NVST)

Front Street Capital Management Inc. raised its position in shares of Envista Holdings Co. (NYSE:NVST) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,591 shares of the company’s stock after buying an additional 3,700 shares during the quarter. Front Street Capital Management Inc. owned about 0.11% of Envista worth $3,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVST. Bank of Montreal Can grew its position in Envista by 91.2% in the 2nd quarter. Bank of Montreal Can now owns 73,629 shares of the company’s stock valued at $1,224,000 after acquiring an additional 35,126 shares during the last quarter. Sei Investments Co. increased its position in Envista by 20.4% during the 2nd quarter. Sei Investments Co. now owns 925,170 shares of the company’s stock valued at $15,386,000 after buying an additional 157,048 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Envista by 11,202.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock valued at $48,018,000 after purchasing an additional 2,861,880 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Envista by 9,626.9% in the second quarter. Canada Pension Plan Investment Board now owns 252,900 shares of the company’s stock worth $4,206,000 after buying an additional 250,300 shares during the last quarter. Finally, Palouse Capital Management Inc. lifted its position in Envista by 33.7% during the 2nd quarter. Palouse Capital Management Inc. now owns 10,411 shares of the company’s stock worth $173,000 after acquiring an additional 2,623 shares during the period.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Robert W. Baird decreased their price objective on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Evercore ISI upped their price target on shares of Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler reduced their price target on shares of Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.59.

Envista Stock Performance

NYSE:NVST opened at $19.04 on Tuesday. 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 stock has a market capitalization of $3.27 billion, a P/E ratio of -26.44 and a beta of 1.31. The company has a 50 day moving average price of $17.49 and a 200 day moving average price of $18.46. Envista Holdings Co. has a fifty-two week low of $15.15 and a fifty-two week high of $28.67.

Envista (NYSE:NVST) last released its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $633.10 million for the quarter, compared to analyst estimates of $646.88 million. Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. Envista’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.43 earnings per share. Equities research analysts forecast that Envista Holdings Co. will post 0.69 EPS for the current year.

Insider Activity

In other news, CFO Eric D. Hammes acquired 24,532 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $16.33 per share, with a total value of $400,607.56. Following the completion of the acquisition, the chief financial officer now owns 24,532 shares in the company, valued at approximately $400,607.56. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.30% of the company’s stock.

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.