Pacer Advisors Inc. Raises Stake in Envista Holdings Co. (NYSE:NVST)

Pacer Advisors Inc. lifted its position in Envista Holdings Co. (NYSE:NVST) by 22.2% in the third quarter, Holdings Channel reports. The firm owned 3,529,827 shares of the company’s stock after acquiring an additional 642,401 shares during the period. Pacer Advisors Inc.’s holdings in Envista were worth $69,749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. M&G Plc boosted its position in shares of Envista by 12.5% in the second quarter. M&G Plc now owns 306,253 shares of the company’s stock worth $5,206,000 after acquiring an additional 33,923 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Envista by 287.4% during the second quarter. Harbor Capital Advisors Inc. now owns 169,648 shares of the company’s stock valued at $2,821,000 after acquiring an additional 125,861 shares during the period. Quadrature Capital Ltd increased its stake in Envista by 110.9% during the first quarter. Quadrature Capital Ltd now owns 69,004 shares of the company’s stock worth $1,476,000 after acquiring an additional 36,290 shares during the last quarter. Nuance Investments LLC raised its holdings in shares of Envista by 47.2% in the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock worth $117,048,000 after purchasing an additional 2,256,993 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Envista by 20.4% in the 2nd quarter. Sei Investments Co. now owns 925,170 shares of the company’s stock valued at $15,386,000 after purchasing an additional 157,048 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Piper Sandler lifted their price target on shares of Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. downgraded Envista from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $23.00 to $16.00 in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research report on Thursday, October 31st. Evercore ISI raised their target price on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a report on Monday, September 23rd. Finally, Leerink Partnrs upgraded Envista from a “strong sell” rating to a “hold” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Envista presently has a consensus rating of “Hold” and a consensus price target of $20.71.

Envista Stock Performance

Shares of NVST opened at $21.39 on Friday. The stock has a market capitalization of $3.68 billion, a PE ratio of -2.75, a price-to-earnings-growth ratio of 2.82 and a beta of 1.30. The business’s fifty day moving average price is $19.44 and its 200 day moving average price is $18.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.77. Envista Holdings Co. has a 12-month low of $15.15 and a 12-month high of $25.64.

Envista (NYSE:NVST) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The business had revenue of $601.00 million during the quarter, compared to analyst estimates of $590.34 million. During the same period in the previous year, the business posted $0.43 EPS. The company’s quarterly revenue was down 4.8% on a year-over-year basis. Equities research analysts forecast that Envista Holdings Co. will post 0.72 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.