Franklin Resources Inc. Has $78.48 Million Position in Envista Holdings Co. (NYSE:NVST)

Franklin Resources Inc. boosted its holdings in Envista Holdings Co. (NYSE:NVST) by 26.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,971,662 shares of the company’s stock after purchasing an additional 830,861 shares during the period. Franklin Resources Inc. owned about 2.31% of Envista worth $78,480,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Envista in the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC raised its holdings in shares of Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $35,000 after purchasing an additional 726 shares during the period. Huntington National Bank grew its holdings in Envista by 97.8% during the third quarter. Huntington National Bank now owns 1,919 shares of the company’s stock worth $38,000 after purchasing an additional 949 shares during the period. Blue Trust Inc. increased its position in Envista by 69.7% during 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 during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Envista by 50.8% in 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.

Analyst Ratings Changes

A number of research firms recently weighed in on NVST. Leerink Partnrs upgraded Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Leerink Partners upgraded shares of Envista from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $16.00 to $23.00 in a research report on Thursday, October 31st. Piper Sandler lifted their price target on Envista from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company began coverage on Envista in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Envista presently has a consensus rating of “Hold” and a consensus price target of $20.65.

Envista Price Performance

Shares of NVST stock opened at $19.57 on Tuesday. The company has a quick ratio of 1.77, a current ratio of 2.08 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.37 billion, a P/E ratio of -2.52, a P/E/G ratio of 2.71 and a beta of 1.31. Envista Holdings Co. has a twelve month low of $15.15 and a twelve month high of $25.64. The business has a fifty day simple moving average of $20.10 and a 200 day simple moving average of $18.44.

Envista (NYSE:NVST) last announced 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 negative net margin of 53.42% and a positive return on equity of 3.76%. The company had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. During the same period in the previous year, the firm posted $0.43 EPS. The firm’s revenue was down 4.8% on a year-over-year basis. On average, sell-side 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.