Clarkston Capital Partners LLC Lowers Stake in Envista Holdings Co. (NYSE:NVST)

Clarkston Capital Partners LLC decreased its holdings in Envista Holdings Co. (NYSE:NVST) by 1.4% in the fourth quarter, Holdings Channel reports. The firm owned 4,288,075 shares of the company’s stock after selling 59,225 shares during the quarter. Envista accounts for about 1.6% of Clarkston Capital Partners LLC’s portfolio, making the stock its 22nd biggest position. Clarkston Capital Partners LLC’s holdings in Envista were worth $82,717,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bryce Point Capital LLC purchased a new stake in Envista in the fourth quarter worth about $590,000. Massachusetts Financial Services Co. MA boosted its holdings in Envista by 9.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,271,175 shares of the company’s stock worth $63,101,000 after buying an additional 283,415 shares during the period. Trexquant Investment LP bought a new stake in Envista during the fourth quarter valued at about $5,982,000. Franklin Resources Inc. boosted its stake 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 worth $132,223,000 after acquiring an additional 2,882,844 shares during the period. Finally, California Public Employees Retirement System grew its position in shares of Envista by 0.4% during the fourth quarter. California Public Employees Retirement System now owns 288,546 shares of the company’s stock worth $5,566,000 after purchasing an additional 1,272 shares in the last quarter.

Envista Price Performance

Shares of Envista stock opened at $15.47 on Friday. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of -2.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.76 and a current ratio of 2.04. The stock has a 50 day moving average price of $19.18 and a 200-day moving average price of $19.53. Envista Holdings Co. has a one year low of $14.77 and a one year high of $23.00.

Envista (NYSE:NVST) last released its earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. Equities analysts expect that Envista Holdings Co. will post 1 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on NVST. Piper Sandler upped their price target on Envista from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Jefferies Financial Group upped their target price on shares of Envista from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. New Street Research set a $19.00 price target on shares of Envista in a research note on Thursday, March 6th. Needham & Company LLC restated a “hold” rating on shares of Envista in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. decreased their target price on Envista from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.18.

Envista 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.