Iron Triangle Partners LP Takes Position in Envista Holdings Co. (NYSE:NVST)

Iron Triangle Partners LP purchased a new stake in Envista Holdings Co. (NYSE:NVST) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,189,369 shares of the company’s stock, valued at approximately $43,262,000. Envista makes up approximately 6.0% of Iron Triangle Partners LP’s investment portfolio, making the stock its 6th largest holding.

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC lifted its holdings in Envista by 8.9% during the 3rd quarter. Janus Henderson Group PLC now owns 1,369,810 shares of the company’s stock worth $27,067,000 after buying an additional 112,288 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Envista during the 3rd quarter worth about $14,965,000. ArrowMark Colorado Holdings LLC purchased a new stake in Envista during the third quarter worth approximately $4,565,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Envista in the third quarter valued at approximately $521,000. Finally, Edgestream Partners L.P. increased its stake in Envista by 520.2% in the third quarter. Edgestream Partners L.P. now owns 151,925 shares of the company’s stock valued at $3,002,000 after purchasing an additional 127,430 shares during the last quarter.

Envista Stock Up 0.1 %

Shares of NYSE:NVST opened at $22.31 on Tuesday. Envista Holdings Co. has a 12-month low of $15.15 and a 12-month 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. The stock’s 50-day moving average price is $19.79 and its two-hundred day moving average price is $18.28.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The firm had revenue of $601.00 million for the quarter, compared to analysts’ expectations of $590.34 million. During the same quarter last year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, equities analysts expect that Envista Holdings Co. will post 0.72 EPS for the current fiscal year.

Analyst Ratings Changes

NVST has been the subject of a number of research reports. Robert W. Baird boosted their price target on shares of Envista from $17.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Bank of America dropped their price target on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Thursday, October 31st. Piper Sandler raised their target price on shares of Envista from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut shares of Envista from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $20.71.

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.