River Road Asset Management LLC Makes New Investment in Envista Holdings Co. (NYSE:NVST)

River Road Asset Management LLC bought a new position in shares of Envista Holdings Co. (NYSE:NVST) in the fourth quarter, HoldingsChannel.com reports. The firm bought 2,283,073 shares of the company’s stock, valued at approximately $54,931,000.

A number of other hedge funds also recently bought and sold shares of NVST. Eagle Bay Advisors LLC acquired a new position in shares of Envista during the second quarter worth $35,000. Belpointe Asset Management LLC increased its position in shares of Envista by 80.6% during the first quarter. Belpointe Asset Management LLC now owns 901 shares of the company’s stock worth $37,000 after purchasing an additional 402 shares in the last quarter. Headinvest LLC acquired a new position in shares of Envista during the third quarter worth $28,000. Fifth Third Bancorp increased its position in shares of Envista by 98.1% during the fourth quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock worth $30,000 after purchasing an additional 621 shares in the last quarter. Finally, Covestor Ltd increased its position in shares of Envista by 35.0% during the first quarter. Covestor Ltd now owns 1,273 shares of the company’s stock worth $62,000 after purchasing an additional 330 shares in the last quarter.

Envista Stock Performance

NVST traded down $0.19 during midday trading on Wednesday, hitting $19.59. 1,891,911 shares of the company were exchanged, compared to its average volume of 2,378,082. The company’s 50 day simple moving average is $21.36 and its 200 day simple moving average is $23.03. The firm has a market capitalization of $3.37 billion, a price-to-earnings ratio of -32.43, a price-to-earnings-growth ratio of 3.57 and a beta of 1.35. The company has a current ratio of 2.23, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33. Envista Holdings Co. has a 1-year low of $18.95 and a 1-year high of $39.28.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 earnings per share 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 analyst estimates of $638.37 million. Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. Envista’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts predict that Envista Holdings Co. will post 1.43 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NVST. William Blair downgraded Envista from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 8th. TheStreet downgraded Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. UBS Group initiated coverage on Envista in a research report on Friday, January 5th. They issued a “neutral” rating and a $26.00 target price on the stock. Leerink Partnrs reissued an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Finally, SVB Leerink initiated coverage on Envista in a research report on Monday, February 26th. They issued an “underperform” rating and a $19.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $29.60.

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.