Geode Capital Management LLC Purchases 71,435 Shares of Envista Holdings Co. (NYSE:NVST)

Geode Capital Management LLC lifted its position in shares of Envista Holdings Co. (NYSE:NVST) by 2.5% during the third quarter, Holdings Channel reports. The firm owned 2,895,653 shares of the company’s stock after acquiring an additional 71,435 shares during the period. Geode Capital Management LLC’s holdings in Envista were worth $57,233,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in NVST. Vestcor Inc lifted its position in shares of Envista by 344.4% during the 3rd quarter. Vestcor Inc now owns 54,249 shares of the company’s stock worth $1,072,000 after buying an additional 42,041 shares in the last quarter. M&T Bank Corp increased its position in shares of Envista by 42.9% during the third quarter. M&T Bank Corp now owns 15,945 shares of the company’s stock valued at $315,000 after acquiring an additional 4,787 shares during the last quarter. XTX Topco Ltd bought a new stake in Envista during the third quarter worth $704,000. Villanova Investment Management Co LLC purchased a new position in Envista in the third quarter worth $1,066,000. Finally, Readystate Asset Management LP grew its stake in Envista by 16.7% in the 3rd quarter. Readystate Asset Management LP now owns 51,016 shares of the company’s stock valued at $1,008,000 after purchasing an additional 7,288 shares during the period.

Wall Street Analysts Forecast Growth

NVST has been the topic of a number of recent analyst reports. Evercore ISI lifted their target price on Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Leerink Partnrs upgraded shares of Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Wells Fargo & Company started coverage on shares of Envista in a research note on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price target for the company. Robert W. Baird upped their price objective on Envista from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Envista in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $20.65.

Envista Trading Up 3.7 %

Shares of Envista stock opened at $18.70 on Monday. Envista Holdings Co. has a 12-month low of $15.15 and a 12-month high of $25.64. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.22 billion, a price-to-earnings ratio of -2.41, a PEG ratio of 2.71 and a beta of 1.31. The company’s 50-day moving average price is $20.14 and its 200-day moving average price is $18.43.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The firm had revenue of $601.00 million for the quarter, compared to analysts’ expectations of $590.34 million. During the same quarter last year, the firm posted $0.43 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. On average, equities analysts expect that Envista Holdings Co. will post 0.72 earnings per share for the current fiscal year.

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.