Federated Hermes Inc. Acquires 8,984 Shares of Envista Holdings Co. (NYSE:NVST)

Federated Hermes Inc. boosted its position in shares of Envista Holdings Co. (NYSE:NVST) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,412 shares of the company’s stock after purchasing an additional 8,984 shares during the period. Federated Hermes Inc.’s holdings in Envista were worth $2,007,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Headinvest LLC bought a new position in Envista during the 3rd quarter valued at about $28,000. Fifth Third Bancorp grew its holdings in Envista by 98.1% during the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after purchasing an additional 621 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in Envista during the 3rd quarter valued at about $47,000. Covestor Ltd grew its holdings in Envista by 33.9% during the 3rd quarter. Covestor Ltd now owns 2,462 shares of the company’s stock valued at $69,000 after purchasing an additional 624 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Envista by 69.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,516 shares of the company’s stock valued at $126,000 after purchasing an additional 1,844 shares during the last quarter.

Envista Stock Up 1.8 %

NVST stock opened at $20.39 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.90 and a current ratio of 2.23. The firm has a market cap of $3.50 billion, a PE ratio of -33.43, a P/E/G ratio of 3.81 and a beta of 1.35. Envista Holdings Co. has a one year low of $18.95 and a one year high of $38.68. The firm’s fifty day moving average is $20.95 and its 200 day moving average is $22.67.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $645.60 million for the quarter, compared to analysts’ expectations of $638.37 million. Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. On average, research analysts forecast that Envista Holdings Co. will post 1.43 EPS for the current year.

Wall Street Analysts Forecast Growth

NVST has been the topic of several analyst reports. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a report on Monday, February 26th. UBS Group began coverage on shares of Envista in a research note on Friday, January 5th. They issued a “neutral” rating and a $26.00 target price on the stock. Jefferies Financial Group downgraded shares of Envista from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $23.00 in a research note on Friday, February 9th. TheStreet cut shares of Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Finally, SVB Leerink began coverage on shares of Envista in a research note on Monday, February 26th. They issued an “underperform” rating and a $19.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $27.90.

About Envista

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.