Allspring Global Investments Holdings LLC Has $43,000 Stake in Envista Holdings Co. (NYSE:NVST)

Allspring Global Investments Holdings LLC lifted its stake in Envista Holdings Co. (NYSE:NVST) by 50.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,161 shares of the company’s stock after purchasing an additional 728 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Envista were worth $43,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jupiter Asset Management Ltd. acquired a new stake in Envista during the 2nd quarter worth $69,534,000. Pacer Advisors Inc. lifted its position in Envista by 11,202.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock worth $48,018,000 after buying an additional 2,861,880 shares in the last quarter. Swedbank AB bought a new stake in Envista during the 1st quarter worth about $53,412,000. Nuance Investments LLC increased its stake in shares of Envista by 47.2% during the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock worth $117,048,000 after purchasing an additional 2,256,993 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in shares of 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 purchasing an additional 1,795,258 shares during the last quarter.

Envista Stock Up 1.6 %

NYSE:NVST opened at $21.28 on Tuesday. Envista Holdings Co. has a 1-year low of $15.15 and a 1-year high of $25.64. The company has a 50-day moving average of $18.70 and a 200 day moving average of $18.06. The firm has a market cap of $3.66 billion, a PE ratio of -2.74 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.90.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, October 30th. The company reported $0.12 EPS for the quarter, beating 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 positive return on equity of 3.76% and a negative net margin of 53.42%. Envista’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. As a group, research analysts anticipate that Envista Holdings Co. will post 0.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVST shares. JPMorgan Chase & Co. downgraded shares of Envista from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $16.00 in a report on Thursday, August 8th. Robert W. Baird upped their price target on shares of Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America decreased their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler lifted their target price on shares of Envista from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Evercore ISI lifted their target price on shares of Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $20.71.

Insiders Place Their Bets

In other Envista news, CFO Eric D. Hammes bought 24,532 shares of the firm’s stock in a transaction dated 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 directly owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

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.