PNC Financial Services Group Inc. Has $580,000 Position in Envista Holdings Co. (NYSE:NVST)

PNC Financial Services Group Inc. boosted its holdings in shares of Envista Holdings Co. (NYSE:NVST) by 271.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 24,123 shares of the company’s stock after purchasing an additional 17,624 shares during the period. PNC Financial Services Group Inc.’s holdings in Envista were worth $580,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock valued at $413,056,000 after acquiring an additional 944,596 shares in the last quarter. Ariel Investments LLC raised its position in Envista by 4.3% during the third quarter. Ariel Investments LLC now owns 5,335,578 shares of the company’s stock valued at $148,756,000 after acquiring an additional 218,461 shares in the last quarter. Franklin Resources Inc. raised its position in Envista by 65.3% during the fourth quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after acquiring an additional 2,077,786 shares in the last quarter. Nuance Investments LLC raised its position in Envista by 953.8% during the fourth quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock valued at $94,581,000 after acquiring an additional 3,558,031 shares in the last quarter. Finally, River Road Asset Management LLC bought a new position in Envista during the fourth quarter valued at approximately $54,931,000.

Envista Trading Up 3.2 %

Shares of NVST stock opened at $16.51 on Thursday. Envista Holdings Co. has a 1 year low of $15.92 and a 1 year high of $36.14. The firm’s fifty day simple moving average is $18.62 and its 200 day simple moving average is $21.16. The firm has a market capitalization of $2.84 billion, a P/E ratio of -22.93, a price-to-earnings-growth ratio of 13.29 and a beta of 1.34. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.34.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.05). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The company had revenue of $623.60 million for the quarter, compared to the consensus estimate of $634.85 million. During the same period last year, the firm posted $0.38 EPS. The company’s revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts predict that Envista Holdings Co. will post 1.2 EPS for the current year.

Wall Street Analysts Forecast Growth

NVST has been the topic of several recent research reports. Robert W. Baird cut their price objective on shares of Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group cut their price objective on shares of Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on shares of Envista from $29.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Morgan Stanley lowered shares of Envista from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $33.00 to $21.00 in a research report on Friday, April 26th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Envista in a research report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Envista has an average rating of “Hold” and an average target price of $24.86.

Envista Profile

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.