Principal Financial Group Inc. Has $7.87 Million Stake in Envista Holdings Co. (NYSE:NVST)

Principal Financial Group Inc. lessened its holdings in shares of Envista Holdings Co. (NYSE:NVST) by 30.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,446 shares of the company’s stock after selling 173,943 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Envista worth $7,873,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Envista by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $35,000 after buying an additional 726 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Envista by 50.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after acquiring an additional 728 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Envista by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 36,021 shares of the company’s stock worth $599,000 after acquiring an additional 800 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the last quarter. Finally, Arizona State Retirement System grew its position in Envista by 2.1% in the second quarter. Arizona State Retirement System now owns 48,111 shares of the company’s stock valued at $800,000 after purchasing an additional 1,006 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Leerink Partnrs upgraded Envista from a “strong sell” rating to a “hold” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on shares of Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird upped their price objective on Envista from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $20.71.

Envista Stock Down 1.7 %

NVST stock opened at $20.26 on Wednesday. The business’s fifty day moving average price is $19.33 and its two-hundred day moving average price is $18.12. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -2.61, a PEG ratio of 2.86 and a beta of 1.30. Envista Holdings Co. has a fifty-two week low of $15.15 and a fifty-two week high of $25.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.77.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The business’s revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. On average, equities analysts anticipate that Envista Holdings Co. will post 0.72 earnings per share for the current 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.