Geode Capital Management LLC Reduces Stock Holdings in Envista Holdings Co. (NYSE:NVST)

Geode Capital Management LLC lowered its position in shares of Envista Holdings Co. (NYSE:NVST) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,849,567 shares of the company’s stock after selling 46,086 shares during the period. Geode Capital Management LLC owned approximately 1.66% of Envista worth $54,986,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of Envista by 72.6% during the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company’s stock worth $132,223,000 after buying an additional 2,882,844 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Envista by 8.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,317,631 shares of the company’s stock valued at $44,707,000 after purchasing an additional 179,600 shares in the last quarter. Norges Bank acquired a new position in Envista in the fourth quarter worth about $38,052,000. Paradice Investment Management LLC increased its holdings in Envista by 3.8% in the fourth quarter. Paradice Investment Management LLC now owns 1,652,332 shares of the company’s stock valued at $31,873,000 after buying an additional 61,139 shares during the last quarter. Finally, Pzena Investment Management LLC acquired a new stake in Envista during the fourth quarter valued at approximately $16,979,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. New Street Research set a $19.00 price target on Envista in a report on Thursday, March 6th. UBS Group dropped their target price on shares of Envista from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a report on Thursday, March 6th. Piper Sandler boosted their price objective on shares of Envista from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Finally, Morgan Stanley cut their target price on shares of Envista from $20.00 to $19.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.18.

Envista Stock Down 0.5 %

NVST stock opened at $15.46 on Monday. The firm’s 50-day moving average is $18.41 and its two-hundred day moving average is $19.35. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of -2.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. Envista Holdings Co. has a 52 week low of $14.22 and a 52 week high of $23.00. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, February 5th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. On average, analysts forecast that Envista Holdings Co. will post 1 earnings per share for the current fiscal year.

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.