Envista Holdings Co. (NYSE:NVST) Shares Bought by California Public Employees Retirement System

Posted by Defense World Staff on Feb 15th, 2023

California Public Employees Retirement System raised its stake in Envista Holdings Co. (NYSE:NVST – Get Rating) by 34.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 394,704 shares of the company’s stock after acquiring an additional 100,362 shares during the quarter. California Public Employees Retirement System owned approximately 0.24% of Envista worth $12,950,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in NVST. Massachusetts Financial Services Co. MA raised its holdings in shares of Envista by 32.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 10,472,153 shares of the company’s stock worth $403,598,000 after acquiring an additional 2,594,861 shares during the last quarter. Pendal Group Ltd increased its stake in Envista by 4,842.8% in the third quarter. Pendal Group Ltd now owns 2,261,295 shares of the company’s stock valued at $74,193,000 after purchasing an additional 2,215,546 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Envista by 66.9% in the second quarter. Artisan Partners Limited Partnership now owns 5,237,560 shares of the company’s stock valued at $201,856,000 after purchasing an additional 2,099,112 shares during the last quarter. Millennium Management LLC increased its stake in Envista by 52.0% in the second quarter. Millennium Management LLC now owns 2,529,309 shares of the company’s stock valued at $97,480,000 after purchasing an additional 864,829 shares during the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in Envista by 26.1% in the third quarter. Montrusco Bolton Investments Inc. now owns 3,352,257 shares of the company’s stock valued at $108,630,000 after purchasing an additional 694,581 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Piper Sandler upped their target price on Envista from $42.00 to $46.00 and gave the company an “overweight” rating in a research note on Monday, February 6th. TheStreet upgraded Envista from a “c+” rating to a “b” rating in a research note on Wednesday, February 8th. William Blair restated an “outperform” rating on shares of Envista in a research note on Thursday, November 3rd. Finally, Robert W. Baird upped their price target on Envista from $38.00 to $43.00 and gave the stock a “neutral” rating in a research note on Thursday, February 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $46.00.

Envista Price Performance

Shares of NYSE NVST opened at $40.29 on Wednesday. Envista Holdings Co. has a 1-year low of $31.67 and a 1-year high of $52.03. The business has a 50-day moving average of $35.74 and a 200-day moving average of $35.87. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.15 and a quick ratio of 0.91. The company has a market capitalization of $6.57 billion, a price-to-earnings ratio of 29.41, a PEG ratio of 1.90 and a beta of 1.43.

Envista (NYSE:NVST – Get Rating) last issued its earnings results on Wednesday, February 8th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.03. Envista had a return on equity of 8.52% and a net margin of 9.46%. The company had revenue of $660.80 million during the quarter, compared to the consensus estimate of $658.40 million. During the same quarter in the prior year, the business earned $0.46 earnings per share. The company’s revenue was up 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Envista Holdings Co. will post 1.9 EPS for the current fiscal year.

Envista Company Profile

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Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.