Shapiro Capital Management LLC Has $23.18 Million Stake in Envista Holdings Co. (NYSE:NVST)

Shapiro Capital Management LLC lifted its stake in Envista Holdings Co. (NYSE:NVST) by 13.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,394,100 shares of the company’s stock after acquiring an additional 167,500 shares during the period. Shapiro Capital Management LLC owned 0.81% of Envista worth $23,184,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Envista in the fourth quarter worth about $42,874,000. PNC Financial Services Group Inc. increased its position in Envista by 271.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 24,123 shares of the company’s stock worth $580,000 after buying an additional 17,624 shares during the period. Assetmark Inc. lifted its holdings in shares of Envista by 18.7% during the fourth quarter. Assetmark Inc. now owns 31,601 shares of the company’s stock worth $760,000 after buying an additional 4,978 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Envista in the fourth quarter valued at approximately $136,000. Finally, United Services Automobile Association grew its stake in shares of Envista by 8.1% in the fourth quarter. United Services Automobile Association now owns 12,284 shares of the company’s stock worth $296,000 after acquiring an additional 919 shares during the last quarter.

Insider Activity

In related news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction on Monday, August 12th. The shares were purchased at an average price of $16.33 per share, for a total transaction of $400,607.56. Following the transaction, 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

NVST has been the subject of several recent research reports. Robert W. Baird cut their price target on Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Evercore ISI boosted their price objective on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday. Piper Sandler reduced their target price on Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Stifel Nicolaus lowered their price target on shares of Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Finally, Bank of America reduced their price objective on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $19.59.

Envista Stock Up 0.2 %

NVST stock opened at $19.04 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. Envista Holdings Co. has a 52 week low of $15.15 and a 52 week high of $28.67. The company has a market cap of $3.27 billion, a PE ratio of -26.44 and a beta of 1.31. The business has a 50-day simple moving average of $17.49 and a 200 day simple moving average of $18.46.

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 during the quarter, compared to the consensus estimate of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The business’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 EPS. Sell-side analysts anticipate that Envista Holdings Co. will post 0.69 EPS for the current fiscal year.

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.