Bank of New York Mellon Corp Increases Position in Envista Holdings Corporation (NYSE:NVST)

Bank of New York Mellon Corp grew its stake in Envista Holdings Corporation (NYSE:NVST) by 21.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,650,098 shares of the company’s stock after acquiring an additional 287,564 shares during the quarter. Bank of New York Mellon Corp owned about 0.97% of Envista worth $28,481,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Ariel Investments LLC grew its stake in Envista by 6.2% during the 4th quarter. Ariel Investments LLC now owns 12,059,624 shares of the company’s stock worth $232,630,000 after buying an additional 699,625 shares during the last quarter. Franklin Resources Inc. grew its stake in Envista by 72.6% during the 4th 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 during the last quarter. Dimensional Fund Advisors LP grew its stake in Envista by 19.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company’s stock worth $130,440,000 after buying an additional 1,089,923 shares during the last quarter. Gates Capital Management Inc. grew its stake in Envista by 15.1% during the 4th quarter. Gates Capital Management Inc. now owns 4,694,148 shares of the company’s stock worth $90,550,000 after buying an additional 615,577 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Envista by 9.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,271,175 shares of the company’s stock worth $63,101,000 after buying an additional 283,415 shares during the last quarter.

Envista Stock Performance

NYSE NVST opened at $19.70 on Thursday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of -3.02, a PEG ratio of 1.25 and a beta of 1.00. Envista Holdings Corporation has a twelve month low of $14.22 and a twelve month high of $23.00. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $18.83 and a 200 day moving average of $18.53.

Envista (NYSE:NVST) last released its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $616.90 million during the quarter, compared to analysts’ expectations of $608.17 million. Envista had a positive return on equity of 4.07% and a negative net margin of 44.90%. Envista’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Sell-side analysts anticipate that Envista Holdings Corporation will post 1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America dropped their target price on Envista from $26.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley set a $16.00 price target on Envista in a research report on Tuesday, April 15th. Baird R W raised Envista from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 27th. Piper Sandler lowered their price target on Envista from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, April 30th. Finally, Evercore ISI lifted their price target on Envista from $19.00 to $23.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Envista has an average rating of “Hold” and an average price target of $20.23.

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.