Clarkston Capital Partners LLC Decreases Holdings in Envista Holdings Co. (NYSE:NVST)

Clarkston Capital Partners LLC decreased its stake in Envista Holdings Co. (NYSE:NVST) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,288,075 shares of the company’s stock after selling 59,225 shares during the period. Envista accounts for about 1.6% of Clarkston Capital Partners LLC’s holdings, making the stock its 22nd biggest position. Clarkston Capital Partners LLC owned about 2.49% of Envista worth $82,717,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVST. Franklin Resources Inc. lifted its stake in Envista by 72.6% in the fourth quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company’s stock valued at $132,223,000 after purchasing an additional 2,882,844 shares during the last quarter. Norges Bank purchased a new position in shares of Envista during the 4th quarter valued at $38,052,000. Pzena Investment Management LLC bought a new stake in Envista in the 4th quarter valued at about $16,979,000. Raymond James Financial Inc. purchased a new position in shares of Envista in the fourth quarter worth about $10,808,000. Finally, Trexquant Investment LP bought a new stake in shares of Envista in the fourth quarter valued at approximately $5,982,000.

Envista Price Performance

Shares of Envista stock opened at $15.47 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of -2.38, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. Envista Holdings Co. has a 12 month low of $14.77 and a 12 month high of $23.00. The business’s 50-day moving average price is $19.18 and its 200-day moving average price is $19.53. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44.

Envista (NYSE:NVST) last released its earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. Sell-side analysts forecast that Envista Holdings Co. will post 1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVST. UBS Group lowered their target price on shares of Envista from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, March 10th. Wells Fargo & Company set a $19.00 price objective on Envista in a report on Saturday, March 8th. JPMorgan Chase & Co. reduced their target price on Envista from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, March 6th. Morgan Stanley cut their price objective on shares of Envista from $20.00 to $19.00 and set an “equal weight” rating for the company in a research report on Thursday, March 6th. Finally, Piper Sandler upped their target price on shares of Envista from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $20.18.

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.