Manufacturers’ Life Insurance Company cut its stake in Envista Holdings (NYSE:NVST – Get Rating) by 2.7% in the third quarter, according to the latest 13F file filed with the Securities and Exchange Commission. He owned 132,333 shares in the company after the company sold 3,738 of his shares during the quarter. Manufacturers’ Life Insurance Company owned approximately 0.08% of Envista, valued at $4,342,000, as of the latest SEC filing.
Several other hedge funds have also recently changed their positions in the NVST. Whittier Trust Co. increased his Envista stock position by 50.1% in the second quarter. Whittier Trust Co. now owns 785 shares of the company worth $30,000 after acquiring an additional 262 shares last quarter. Ronald Blue Trust Inc. increased his Envista position by 419.3% in the third quarter. Ronald Blue Trust Inc. now owns 836 shares worth $32,000 after purchasing an additional 675 shares last quarter. Eagle Bay Advisors LLC purchased new shares of Envista in the second quarter for approximately $35,000. The Healthcare of Ontario Pension Plan Trust Fund purchased new shares in his Envista worth about $42,000 in the second quarter. Finally, Covestor Ltd increased his Envista position by 35.0% in the first quarter. Covestor Ltd now owns 1,273 shares worth $62,000 after purchasing an additional 330 shares in the previous quarter.
Wall Street Analyst Predicts Growth
A number of analysts have recently commented on the NVST stock. William Blair reaffirmed its ‘Outperform’ rating for Envista shares in a research report on Thursday, November 3rd. Piper Sandler lowered Envista’s target price from hers of $46.00 to hers of $44.00 in a research report on Friday, Nov. 4, setting an “overweight” valuation for the company. Finally, Morgan Stanley lowered Envista’s price target from her $49.00 to $48.00 in her Thursday, October 13 report, setting the company’s rating to “overweight.” One of his investment analysts gave the company a holding rating and four others gave the company’s stock a buy rating. According to MarketBeat, Envista has an average rating of “moderate buy” and a consensus price target of $46.17.
Envista Stock Performance
NVST shares opened Wednesday at $38.99. The company has an equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 1.09. His 50-day moving average price for this stock is $34.67 and its 200-day moving average price is $35.82. The company has a market cap of $6.36 billion, a P/E ratio of 27.27, a P/E/G ratio of 1.87 and a beta of 1.40. Envista Holdings Co. has a 52-week low of $31.67 and a 52-week high of $52.03.
Envista (NYSE:NVST – Get Rating) last published its quarterly earnings data on Thursday, November 3rd. The company reported EPS of $0.47 for the quarter, beating analyst consensus expectations of $0.47. Envista’s return on equity was 8.33% and net profit margin was 9.98%. The company’s revenue for the quarter was $631.1 million, compared with analyst estimates of $631.94 million. Equity analysts expect Envista Holdings Co. to post earnings per share of 1.91 for the current financial year.
Envista Holdings Corporation, along with its subsidiaries, develops, sells, and markets dental products in the United States, China, and internationally. The company operates in his two segments: Specialty Products & Technologies and Equipment & Consumables. The company’s specialty products and technology divisions include Nobel Biocare, Alpha Biotech, Implant Direct, Nobel Procera, and Orascoptic brands; Damon, Insignia, AOA, and Spark brand brackets and wires, tubes and bands, archwires, clear aligners, Digital orthodontic treatment, retainers, and other orthodontic lab products.
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