Diamond Hill Capital Management Inc. Has $19.26 Million Stake in Envista Holdings Co. (NYSE:NVST)

Diamond Hill Capital Management Inc. trimmed its position in shares of Envista Holdings Co. (NYSE:NVST) by 25.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 998,612 shares of the company’s stock after selling 337,098 shares during the period. Diamond Hill Capital Management Inc.’s holdings in Envista were worth $19,263,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in NVST. Iron Triangle Partners LP acquired a new stake in shares of Envista during the 3rd quarter valued at about $43,262,000. Point72 Asset Management L.P. acquired a new stake in Envista in the 3rd quarter worth approximately $37,559,000. Polar Asset Management Partners Inc. lifted its holdings in Envista by 375.6% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,497,250 shares of the company’s stock worth $29,586,000 after purchasing an additional 1,182,450 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in Envista in the 4th quarter worth approximately $16,979,000. Finally, Franklin Resources Inc. lifted its holdings in Envista by 26.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company’s stock worth $78,480,000 after purchasing an additional 830,861 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on NVST shares. JPMorgan Chase & Co. reduced their target price on Envista from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Envista in a report on Thursday, March 6th. Wells Fargo & Company set a $19.00 target price on Envista in a report on Saturday, March 8th. Piper Sandler lifted their price target on Envista from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, Mizuho assumed coverage on Envista in a research report on Wednesday, December 4th. They issued an “underperform” rating and a $20.00 price target on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Envista currently has a consensus rating of “Hold” and an average price target of $20.18.

Envista Stock Performance

NVST opened at $16.63 on Friday. The stock’s 50 day simple moving average is $19.99 and its 200-day simple moving average is $19.63. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $23.00. The stock has a market cap of $2.86 billion, a PE ratio of -2.56, a P/E/G ratio of 1.27 and a beta of 1.33. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. Sell-side analysts forecast that Envista Holdings Co. will post 1 EPS for the current year.

Envista Company 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.