Franklin Resources Inc. Raises Position in Envista Holdings Co. (NYSE:NVST)

Franklin Resources Inc. lifted its stake in Envista Holdings Co. (NYSE:NVSTGet Rating) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,548,253 shares of the company’s stock after buying an additional 376,886 shares during the period. Franklin Resources Inc. owned approximately 1.56% of Envista worth $98,209,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVST. Massachusetts Financial Services Co. MA boosted its holdings in Envista by 48.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,877,292 shares of the company’s stock valued at $383,703,000 after purchasing an additional 2,557,951 shares during the last quarter. Jennison Associates LLC raised its stake in Envista by 191.3% during the first quarter. Jennison Associates LLC now owns 1,823,357 shares of the company’s stock valued at $88,816,000 after buying an additional 1,197,432 shares in the last quarter. Principal Financial Group Inc. raised its stake in Envista by 140.5% during the first quarter. Principal Financial Group Inc. now owns 1,318,947 shares of the company’s stock valued at $64,247,000 after buying an additional 770,581 shares in the last quarter. Leeward Investments LLC MA acquired a new stake in Envista during the first quarter valued at approximately $37,385,000. Finally, Alyeska Investment Group L.P. acquired a new stake in Envista during the first quarter valued at approximately $36,982,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Envista from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, November 4th. William Blair restated an “outperform” rating on shares of Envista in a research note on Thursday, November 3rd. Evercore ISI cut their price objective on Envista to $44.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley cut their price objective on Envista from $49.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.17.

Envista Stock Up 1.0 %

Shares of Envista stock opened at $36.99 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $34.40 and its 200-day simple moving average is $37.71. The stock has a market capitalization of $6.03 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 1.61 and a beta of 1.45. Envista Holdings Co. has a twelve month low of $31.67 and a twelve month high of $52.03.

Envista (NYSE:NVSTGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.47 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $631.10 million for the quarter, compared to analysts’ expectations of $631.94 million. Envista had a return on equity of 8.33% and a net margin of 9.98%. Equities research analysts forecast that Envista Holdings Co. will post 1.94 earnings per share for the current year.

Envista Profile

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Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.

Further Reading

Institutional Ownership by Quarter for Envista (NYSE:NVST)

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