Palouse Capital Management Inc. Increases Stock Position in Envista Holdings Co. (NYSE:NVST)

Palouse Capital Management Inc. increased its position in shares of Envista Holdings Co. (NYSE:NVST) by 33.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,411 shares of the company’s stock after purchasing an additional 2,623 shares during the quarter. Palouse Capital Management Inc.’s holdings in Envista were worth $173,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp boosted its position in Envista by 41.7% in the fourth quarter. Alberta Investment Management Corp now owns 294,417 shares of the company’s stock worth $7,084,000 after purchasing an additional 86,700 shares during the last quarter. Tweedy Browne Co LLC purchased a new position in Envista in the first quarter valued at about $21,053,000. SG Americas Securities LLC grew its position in shares of Envista by 3,271.2% during the 1st quarter. SG Americas Securities LLC now owns 144,522 shares of the company’s stock valued at $3,090,000 after acquiring an additional 140,235 shares during the period. M&G Plc grew its holdings in Envista by 12.5% during the second quarter. M&G Plc now owns 306,253 shares of the company’s stock valued at $5,206,000 after purchasing an additional 33,923 shares during the period. Finally, Norges Bank purchased a new stake in Envista in the fourth quarter worth $42,874,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Stifel Nicolaus cut their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Envista in a research report on Thursday, August 8th. JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $23.00 to $16.00 in a research report on Thursday, August 8th. Finally, Evercore ISI dropped their price objective on Envista from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Envista has an average rating of “Hold” and a consensus target price of $19.14.

Insider Transactions at Envista

In other news, CFO Eric D. Hammes acquired 24,532 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $16.33 per share, with a total value of $400,607.56. Following the acquisition, the chief financial officer now owns 24,532 shares in the company, valued at approximately $400,607.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.

Envista Price Performance

NVST stock opened at $19.18 on Thursday. The firm has a 50 day simple moving average of $17.31 and a two-hundred day simple moving average of $18.51. The stock has a market cap of $3.30 billion, a PE ratio of -26.64 and a beta of 1.31. Envista Holdings Co. has a one year low of $15.15 and a one year high of $29.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.22 and a quick ratio of 1.90.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. The company had revenue of $633.10 million during the quarter, compared to analysts’ expectations of $646.88 million. During the same quarter last year, the firm posted $0.43 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. On average, analysts predict that Envista Holdings Co. will post 0.69 EPS for the current fiscal year.

Envista Company 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.