Pacer Advisors Inc. Grows Stock Position in Envista Holdings Co. (NYSE:NVST)

Pacer Advisors Inc. boosted its stake in Envista Holdings Co. (NYSE:NVST) by 22.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,529,827 shares of the company’s stock after purchasing an additional 642,401 shares during the period. Pacer Advisors Inc. owned about 2.05% of Envista worth $69,749,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVST. GAMMA Investing LLC raised its holdings in Envista by 69.8% during the 3rd 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 last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Envista by 50.8% during the third 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 during the last quarter. Victory Capital Management Inc. grew its stake in shares of Envista by 2.3% in the second quarter. Victory Capital Management Inc. now owns 36,021 shares of the company’s stock worth $599,000 after purchasing an additional 800 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the last quarter. Finally, Huntington National Bank raised its position in Envista by 97.8% during the 3rd quarter. Huntington National Bank now owns 1,919 shares of the company’s stock valued at $38,000 after purchasing an additional 949 shares during the last quarter.

Envista Stock Up 5.0 %

Shares of NVST stock opened at $21.39 on Friday. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42. Envista Holdings Co. has a twelve month low of $15.15 and a twelve month high of $25.64. The stock has a 50 day moving average of $19.44 and a 200 day moving average of $18.16. The stock has a market cap of $3.68 billion, a P/E ratio of -2.75, a P/E/G ratio of 2.82 and a beta of 1.30.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $601.00 million during the quarter, compared to analysts’ expectations of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. As a group, sell-side analysts expect that Envista Holdings Co. will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on NVST. Evercore ISI lifted their price objective on Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Bank of America cut their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. JPMorgan Chase & Co. lowered shares of Envista from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Piper Sandler lifted their target price on shares of Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Envista currently has an average rating of “Hold” and an average target price of $20.71.

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.