Massachusetts Financial Services Co. MA Boosts Stake in Envista Holdings Co. (NYSE:NVST)

Massachusetts Financial Services Co. MA raised its position in shares of Envista Holdings Co. (NYSE:NVST) by 9.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,271,175 shares of the company’s stock after buying an additional 283,415 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Envista were worth $63,101,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVST. Franklin Resources Inc. grew its holdings in shares of Envista by 72.6% in the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company’s stock valued at $132,223,000 after purchasing an additional 2,882,844 shares in the last quarter. Norges Bank purchased a new position in shares of Envista in the 4th quarter worth $38,052,000. Pzena Investment Management LLC purchased a new stake in shares of Envista during the 4th quarter valued at about $16,979,000. Raymond James Financial Inc. purchased a new stake in Envista during the fourth quarter valued at approximately $10,808,000. Finally, Trexquant Investment LP purchased a new stake in Envista during the 4th quarter valued at $5,982,000.

Analyst Ratings Changes

A number of equities analysts recently commented on NVST shares. UBS Group dropped their price target on shares of Envista from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Monday, March 10th. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a report on Thursday, March 6th. New Street Research set a $19.00 price objective on Envista in a report on Thursday, March 6th. Piper Sandler lifted their target price on Envista from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. Finally, JPMorgan Chase & Co. lowered their price target on Envista from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $20.18.

Envista Stock Down 3.9 %

Shares of Envista stock opened at $15.47 on Friday. Envista Holdings Co. has a 52-week low of $14.77 and a 52-week high of $23.00. The firm’s 50 day moving average price is $19.18 and its 200-day moving average price is $19.53. The company has a quick ratio of 1.76, a current ratio of 2.04 and a debt-to-equity ratio of 0.44. The company has a market cap of $2.66 billion, a P/E ratio of -2.38, a PEG ratio of 1.27 and a beta of 1.12.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. On average, sell-side analysts predict that Envista Holdings Co. will post 1 EPS 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.