Arizona State Retirement System Raises Holdings in Envista Holdings Co. (NYSE:NVST)

Posted by Defense World Staff on May 12th, 2023

Arizona State Retirement System lifted its holdings in shares of Envista Holdings Co. (NYSE:NVST – Get Rating) by 4.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 46,105 shares of the company’s stock after acquiring an additional 1,914 shares during the period. Arizona State Retirement System’s holdings in Envista were worth $1,552,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of NVST. Bellevue Group AG grew its stake in shares of Envista by 69.8% during the third quarter. Bellevue Group AG now owns 822 shares of the company’s stock worth $27,000 after acquiring an additional 338 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Envista in the second quarter valued at approximately $35,000. Covestor Ltd boosted its position in Envista by 35.0% in the first quarter. Covestor Ltd now owns 1,273 shares of the company’s stock valued at $62,000 after buying an additional 330 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in Envista by 32.7% in the first quarter. Parkside Financial Bank & Trust now owns 2,481 shares of the company’s stock valued at $121,000 after buying an additional 612 shares during the last quarter. Finally, Toroso Investments LLC boosted its position in Envista by 5.2% in the third quarter. Toroso Investments LLC now owns 6,107 shares of the company’s stock valued at $200,000 after buying an additional 303 shares during the last quarter.

Envista Trading Down 2.5 %

Shares of NYSE:NVST opened at $33.14 on Friday. Envista Holdings Co. has a 12-month low of $31.67 and a 12-month high of $43.94. The company has a market capitalization of $5.43 billion, a PE ratio of 27.62, a PEG ratio of 1.67 and a beta of 1.42. The business has a 50 day moving average of $37.99 and a two-hundred day moving average of $36.64. The company has a current ratio of 1.23, a quick ratio of 0.96 and a debt-to-equity ratio of 0.20.

Envista (NYSE:NVST – Get Rating) last announced its earnings results on Wednesday, May 3rd. The company reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.03). The business had revenue of $627.20 million for the quarter, compared to analyst estimates of $632.51 million. Envista had a return on equity of 7.98% and a net margin of 8.27%. The company’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. As a group, analysts forecast that Envista Holdings Co. will post 1.86 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. TheStreet upgraded Envista from a “c+” rating to a “b” rating in a research report on Wednesday, February 8th. Piper Sandler upped their target price on Envista from $42.00 to $46.00 and gave the company an “overweight” rating in a research report on Monday, February 6th. Finally, Robert W. Baird upped their target price on Envista from $38.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, February 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $46.00.

Insider Activity at Envista

In related news, CFO Howard H. Yu sold 10,016 shares of the stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $37.90, for a total value of $379,606.40. Following the completion of the transaction, the chief financial officer now directly owns 45,865 shares of the company’s stock, valued at approximately $1,738,283.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is owned by corporate insiders.

About Envista

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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.