Franklin Resources Inc. Boosts Holdings in Envista Holdings Corporation $NVST

Franklin Resources Inc. grew its position in shares of Envista Holdings Corporation (NYSE:NVST) by 16.7% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,956,572 shares of the company’s stock after buying an additional 1,284,767 shares during the quarter. Franklin Resources Inc. owned 5.39% of Envista worth $175,011,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Legal & General Group Plc increased its stake in shares of Envista by 0.4% during the second quarter. Legal & General Group Plc now owns 347,523 shares of the company’s stock worth $6,791,000 after acquiring an additional 1,407 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in Envista in the 2nd quarter valued at approximately $234,000. Ontario Teachers Pension Plan Board acquired a new position in Envista during the 2nd quarter worth approximately $1,287,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Envista by 5.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 43,546 shares of the company’s stock worth $851,000 after purchasing an additional 2,386 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey raised its stake in shares of Envista by 5.5% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 65,510 shares of the company’s stock worth $1,280,000 after buying an additional 3,427 shares in the last quarter.

Envista Trading Up 3.9%

NYSE:NVST opened at $19.86 on Friday. Envista Holdings Corporation has a 52-week low of $14.22 and a 52-week high of $22.68. The company has a quick ratio of 2.08, a current ratio of 2.44 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $20.12 and a 200-day simple moving average of $19.79. The company has a market capitalization of $3.27 billion, a PE ratio of 62.06, a price-to-earnings-growth ratio of 1.09 and a beta of 1.05.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $669.90 million for the quarter, compared to analysts’ expectations of $639.49 million. Envista had a net margin of 2.11% and a return on equity of 4.84%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 EPS. On average, equities research analysts expect that Envista Holdings Corporation will post 1 earnings per share for the current fiscal year.

Analyst Ratings Changes

NVST has been the topic of a number of recent analyst reports. Wall Street Zen raised Envista from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 1st. Mizuho set a $19.00 target price on shares of Envista in a research report on Monday, November 3rd. Evercore ISI reiterated an “outperform” rating on shares of Envista in a report on Friday, October 31st. Piper Sandler boosted their price objective on shares of Envista from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Finally, Robert W. Baird set a $27.00 target price on shares of Envista in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.33.

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.