Point72 Asset Management L.P. Makes New $37.56 Million Investment in Envista Holdings Co. (NYSE:NVST)

Point72 Asset Management L.P. purchased a new stake in Envista Holdings Co. (NYSE:NVST) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,900,749 shares of the company’s stock, valued at approximately $37,559,000.

A number of other institutional investors have also modified their holdings of the company. Polar Asset Management Partners Inc. boosted its holdings in shares of Envista by 375.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,497,250 shares of the company’s stock valued at $29,586,000 after buying an additional 1,182,450 shares in the last quarter. Iron Triangle Partners LP bought a new stake in shares of Envista in the 3rd quarter valued at about $43,262,000. Janus Henderson Group PLC boosted its holdings in shares of Envista by 8.9% in the 3rd quarter. Janus Henderson Group PLC now owns 1,369,810 shares of the company’s stock valued at $27,067,000 after buying an additional 112,288 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Envista in the 3rd quarter valued at about $14,965,000. Finally, ArrowMark Colorado Holdings LLC bought a new stake in shares of Envista in the 3rd quarter valued at about $4,565,000.

Analyst Upgrades and Downgrades

NVST has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their price target on shares of Envista from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Leerink Partnrs raised shares of Envista from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 31st. Leerink Partners raised shares of Envista from an “underperform” rating to a “market perform” rating and increased their price objective for the company from $16.00 to $23.00 in a research report on Thursday, October 31st. Piper Sandler increased 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. Finally, Evercore ISI increased their price objective on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.65.

Envista Stock Performance

Shares of NYSE NVST opened at $20.57 on Thursday. Envista Holdings Co. has a 12 month low of $15.15 and a 12 month high of $25.64. The firm’s 50 day simple moving average is $19.96 and its 200-day simple moving average is $18.34. The company has a quick ratio of 1.77, a current ratio of 2.08 and a debt-to-equity ratio of 0.42.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $601.00 million for 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 business’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. As a group, sell-side analysts anticipate that Envista Holdings Co. will post 0.72 EPS for the current 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.