Norges Bank Takes Position in Envista Holdings Corporation $NVST

Norges Bank bought a new position in Envista Holdings Corporation (NYSE:NVST) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,058,780 shares of the company’s stock, valued at approximately $40,229,000.

A number of other hedge funds also recently bought and sold shares of NVST. Alliancebernstein L.P. lifted its holdings in Envista by 1,985.1% in the 1st quarter. Alliancebernstein L.P. now owns 4,550,789 shares of the company’s stock worth $78,547,000 after buying an additional 4,332,541 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Envista by 24.0% during the first quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company’s stock valued at $144,760,000 after acquiring an additional 1,625,206 shares in the last quarter. Franklin Resources Inc. lifted its stake in Envista by 16.7% in the second quarter. Franklin Resources Inc. now owns 8,956,572 shares of the company’s stock worth $175,011,000 after acquiring an additional 1,284,767 shares during the period. Trexquant Investment LP boosted its holdings in Envista by 243.7% in the first quarter. Trexquant Investment LP now owns 1,065,849 shares of the company’s stock valued at $18,397,000 after acquiring an additional 755,725 shares in the last quarter. Finally, Gates Capital Management Inc. increased its position in Envista by 10.0% during the 1st quarter. Gates Capital Management Inc. now owns 5,163,745 shares of the company’s stock valued at $89,126,000 after purchasing an additional 469,597 shares during the period.

Envista Price Performance

Shares of NYSE NVST opened at $20.21 on Friday. The company has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $19.98. Envista Holdings Corporation has a fifty-two week low of $14.22 and a fifty-two week high of $22.68. The company has a market capitalization of $3.32 billion, a price-to-earnings ratio of 224.52, a P/E/G ratio of 1.00 and a beta of 1.02. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.02 and a current ratio of 2.37.

Envista (NYSE:NVST) last posted its quarterly earnings results on Wednesday, October 29th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Envista had a return on equity of 5.90% and a net margin of 0.58%.The company had revenue of $669.90 million for the quarter, compared to the consensus estimate of $639.49 million. During the same quarter in the prior year, the business posted $0.12 EPS. The firm’s quarterly revenue was up 11.5% compared to the same quarter last year. Analysts expect that Envista Holdings Corporation will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on NVST shares. Zacks Research cut shares of Envista from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 15th. Evercore ISI restated an “outperform” rating on shares of Envista in a report on Friday, October 31st. Stifel Nicolaus set a $25.00 price objective on Envista in a research report on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Envista in a research report on Monday, December 1st. Finally, Mizuho set a $19.00 target price on Envista in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Envista currently has an average rating of “Hold” and a consensus price target of $21.33.

About Envista

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.