Hotchkis & Wiley Capital Management LLC Acquires Shares of 757,330 Envista Holdings Co. (NYSE:NVST)

Hotchkis & Wiley Capital Management LLC bought a new position in Envista Holdings Co. (NYSE:NVST) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 757,330 shares of the company’s stock, valued at approximately $14,965,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Envista in the 3rd quarter worth about $31,000. GAMMA Investing LLC raised its holdings in Envista by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after buying an additional 726 shares during the last quarter. Huntington National Bank lifted its stake in shares of Envista by 97.8% in the third quarter. Huntington National Bank now owns 1,919 shares of the company’s stock worth $38,000 after buying an additional 949 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after buying an additional 804 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Envista by 50.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after buying an additional 728 shares during the last quarter.

Wall Street Analyst Weigh In

NVST has been the subject of a number of recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Envista in a report on Thursday, October 31st. Robert W. Baird boosted their price target on Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company assumed coverage on Envista in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price objective on the stock. Stifel Nicolaus boosted their target price on Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. downgraded shares of Envista from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $16.00 in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.71.

Envista Trading Down 1.4 %

Shares of NVST stock opened at $21.99 on Wednesday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.77. The company has a market cap of $3.78 billion, a price-to-earnings ratio of -2.83, a PEG ratio of 3.10 and a beta of 1.31. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $25.64. The firm has a fifty day moving average price of $19.92 and a 200-day moving average price of $18.33.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The business had revenue of $601.00 million during the quarter, compared to analyst estimates of $590.34 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. Envista’s revenue for the quarter was down 4.8% on a year-over-year basis. As a group, equities analysts predict that Envista Holdings Co. will post 0.72 earnings per share for the current 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.