VELA Investment Management LLC Purchases 33,712 Shares of Envista Holdings Co. (NYSE:NVST)

VELA Investment Management LLC increased its position in Envista Holdings Co. (NYSE:NVST) by 119.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,833 shares of the company’s stock after purchasing an additional 33,712 shares during the period. VELA Investment Management LLC’s holdings in Envista were worth $1,488,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. grew its stake in shares of Envista by 50.5% in the 4th quarter. Alliancebernstein L.P. now owns 4,209,467 shares of the company’s stock worth $141,733,000 after buying an additional 1,412,915 shares during the last quarter. Norges Bank bought a new position in shares of Envista during the fourth quarter valued at $32,880,000. The Manufacturers Life Insurance Company raised its position in shares of Envista by 512.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 750,125 shares of the company’s stock worth $20,913,000 after purchasing an additional 627,686 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in Envista in the 1st quarter worth about $30,335,000. Finally, DAVENPORT & Co LLC purchased a new stake in Envista during the 4th quarter valued at about $13,233,000.

Envista Stock Performance

Shares of Envista stock traded down $0.04 during trading hours on Monday, reaching $19.14. The company’s stock had a trading volume of 2,084,665 shares, compared to its average volume of 2,373,131. Envista Holdings Co. has a one year low of $18.95 and a one year high of $39.28. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.90 and a current ratio of 2.23. The firm has a 50 day moving average price of $21.54 and a 200-day moving average price of $23.15.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $645.60 million during the quarter, compared to the consensus estimate of $638.37 million. Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. Envista’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts anticipate that Envista Holdings Co. will post 1.43 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Leerink Partnrs reiterated an “underperform” rating on shares of Envista in a research note on Monday, February 26th. William Blair cut Envista from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 8th. Jefferies Financial Group downgraded Envista from a “buy” rating to a “hold” rating and lowered their price target for the company from $30.00 to $23.00 in a report on Friday, February 9th. TheStreet downgraded Envista from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. Finally, SVB Leerink assumed coverage on shares of Envista in a report on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $29.60.

About Envista

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.