PEAK6 Investments LLC Invests $1.14 Million in Envista Holdings Co. (NYSE:NVST)

PEAK6 Investments LLC bought a new stake in shares of Envista Holdings Co. (NYSE:NVST) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 57,879 shares of the company’s stock, valued at approximately $1,144,000.

A number of other institutional investors have also recently made changes to their positions in NVST. M&G Plc raised its stake in shares of Envista by 12.5% in the second quarter. M&G Plc now owns 306,253 shares of the company’s stock valued at $5,206,000 after acquiring an additional 33,923 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Envista by 287.4% in the second quarter. Harbor Capital Advisors Inc. now owns 169,648 shares of the company’s stock worth $2,821,000 after purchasing an additional 125,861 shares during the last quarter. Nuance Investments LLC boosted its position in shares of Envista by 47.2% during the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after buying an additional 2,256,993 shares during the period. Sei Investments Co. grew its stake in shares of Envista by 20.4% during the second quarter. Sei Investments Co. now owns 925,170 shares of the company’s stock valued at $15,386,000 after buying an additional 157,048 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Envista in the second quarter worth approximately $7,019,000.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVST shares. Leerink Partners raised Envista from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $16.00 to $23.00 in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research note on Thursday, October 31st. Wells Fargo & Company started coverage on shares of Envista in a research note on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 target price on the stock. Bank of America decreased their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.71.

Envista Price Performance

NYSE NVST opened at $22.31 on Tuesday. Envista Holdings Co. has a 12-month low of $15.15 and a 12-month high of $25.64. The firm’s fifty day simple moving average is $19.79 and its two-hundred day simple moving average is $18.28. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.84 billion, a P/E ratio of -2.87, a P/E/G ratio of 3.10 and a beta of 1.30.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.03. The firm had revenue of $601.00 million for the quarter, compared to the consensus estimate of $590.34 million. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS. Analysts forecast that Envista Holdings Co. will post 0.72 EPS for the current fiscal year.

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.