Pitcairn Co. Invests $590,000 in Envista Holdings Co. (NYSE:NVST)

Pitcairn Co. acquired a new stake in shares of Envista Holdings Co. (NYSE:NVST) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,589 shares of the company’s stock, valued at approximately $590,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Raymond James Trust N.A. boosted its position in Envista by 54.8% in the fourth quarter. Raymond James Trust N.A. now owns 11,125 shares of the company’s stock worth $268,000 after purchasing an additional 3,936 shares during the last quarter. Raymond James & Associates lifted its stake in shares of Envista by 820.6% in the 4th quarter. Raymond James & Associates now owns 408,218 shares of the company’s stock worth $9,822,000 after purchasing an additional 363,875 shares during the period. Pacer Advisors Inc. grew its position in Envista by 87.5% during the fourth quarter. Pacer Advisors Inc. now owns 25,770 shares of the company’s stock valued at $620,000 after buying an additional 12,025 shares during the period. Canvas Wealth Advisors LLC bought a new stake in Envista during the fourth quarter valued at approximately $372,000. Finally, Highland Capital Management LLC increased its holdings in Envista by 0.9% during the fourth quarter. Highland Capital Management LLC now owns 86,450 shares of the company’s stock valued at $2,080,000 after buying an additional 760 shares during the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NVST shares. Evercore ISI cut their price objective on shares of Envista from $24.00 to $19.00 and set an “outperform” rating for the company in a research report on Tuesday, June 25th. Needham & Company LLC restated a “hold” rating on shares of Envista in a research report on Tuesday, July 16th. Morgan Stanley downgraded Envista from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $33.00 to $21.00 in a research note on Friday, April 26th. Robert W. Baird reduced their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a report on Monday. Finally, The Goldman Sachs Group lowered their price target on shares of Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Envista currently has an average rating of “Hold” and a consensus price target of $22.65.

Envista Stock Performance

Shares of Envista stock opened at $16.11 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.93 and a current ratio of 2.27. Envista Holdings Co. has a twelve month low of $15.69 and a twelve month high of $36.14. The business has a 50-day moving average price of $17.28 and a 200-day moving average price of $20.09.

Envista (NYSE:NVST) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). The firm had revenue of $623.60 million during the quarter, compared to the consensus estimate of $634.85 million. Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. As a group, sell-side analysts predict that Envista Holdings Co. will post 1.19 earnings per share for the current year.

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.