Artemis Investment Management LLP increased its holdings in Envista Holdings Co. (NYSE:NVST – Get Rating) by 51.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,670,227 shares of the company’s stock after buying an additional 567,289 shares during the quarter. Artemis Investment Management LLP’s holdings in Envista were worth $81,270,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of NVST. Covestor Ltd purchased a new position in shares of Envista in the fourth quarter worth approximately $43,000. CWM LLC bought a new stake in Envista during the 4th quarter worth approximately $84,000. Riverwater Partners LLC bought a new stake in Envista during the 4th quarter worth approximately $270,000. CIBC Asset Management Inc raised its stake in Envista by 6.6% during the 4th quarter. CIBC Asset Management Inc now owns 6,777 shares of the company’s stock worth $305,000 after acquiring an additional 421 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in Envista by 4,678.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 6,977 shares of the company’s stock worth $313,000 after acquiring an additional 6,831 shares during the period.
In related news, CFO Howard H. Yu sold 5,341 shares of Envista stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $45.73, for a total value of $244,243.93. Following the completion of the sale, the chief financial officer now directly owns 52,411 shares in the company, valued at $2,396,755.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.76% of the company’s stock.
Envista (NYSE:NVST – Get Rating) last posted its earnings results on Wednesday, May 4th. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.03. The firm had revenue of $631.40 million during the quarter, compared to analyst estimates of $629.30 million. Envista had a net margin of 13.06% and a return on equity of 8.54%. Envista’s revenue for the quarter was down 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. On average, equities analysts predict that Envista Holdings Co. will post 2.02 EPS for the current year.
NVST has been the topic of a number of recent analyst reports. Morgan Stanley raised their target price on shares of Envista from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, April 4th. TheStreet cut shares of Envista from a “b” rating to a “c+” rating in a research note on Friday, June 17th. Piper Sandler reduced their price objective on shares of Envista from $50.00 to $49.00 in a research report on Thursday, May 5th. Stifel Nicolaus reduced their price objective on shares of Envista from $55.00 to $50.00 in a research report on Friday, June 17th. Finally, Robert W. Baird cut shares of Envista from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $54.00 to $46.00 in a research report on Tuesday, June 14th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Envista currently has a consensus rating of “Moderate Buy” and an average price target of $49.80.
Envista Profile (Get Rating)
Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.
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