Taylor Wealth Management Partners grew its holdings in shares of Envista Holdings Co. (NYSE:NVST) by 1.2% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 90,369 shares of the company’s stock after buying an additional 1,099 shares during the quarter. Envista accounts for about 1.3% of Taylor Wealth Management Partners’ investment portfolio, making the stock its 28th biggest position. Taylor Wealth Management Partners owned 0.06% of Envista worth $3,687,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Artemis Investment Management LLP grew its stake in Envista by 17.4% in the fourth quarter. Artemis Investment Management LLP now owns 1,069,840 shares of the company’s stock worth $36,145,000 after purchasing an additional 158,857 shares in the last quarter. Norges Bank bought a new position in Envista in the fourth quarter worth approximately $67,374,000. Raymond James Trust N.A. bought a new position in Envista in the fourth quarter worth approximately $219,000. DNB Asset Management AS bought a new position in Envista in the fourth quarter worth approximately $3,032,000. Finally, Arlington Partners LLC bought a new position in Envista in the first quarter worth approximately $66,000.
Shares of NVST traded up $0.78 during midday trading on Friday, hitting $44.21. 9,079 shares of the company’s stock traded hands, compared to its average volume of 2,210,904. Envista Holdings Co. has a 1 year low of $14.73 and a 1 year high of $45.00. The firm’s fifty day moving average is $41.02 and its 200-day moving average is $35.55. The company has a current ratio of 2.09, a quick ratio of 1.71 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $7.10 billion, a price-to-earnings ratio of -334.08 and a beta of 2.00.
In related news, SVP Jeffrey Kappler sold 13,473 shares of the firm’s stock in a transaction on Wednesday, April 7th. The shares were sold at an average price of $44.95, for a total transaction of $605,611.35. Following the completion of the transaction, the senior vice president now owns 45,578 shares of the company’s stock, valued at $2,048,731.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Curt W. Bludworth sold 12,518 shares of the firm’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $39.78, for a total transaction of $497,966.04. Following the transaction, the insider now directly owns 58,347 shares of the company’s stock, valued at approximately $2,321,043.66. The disclosure for this sale can be found here. Insiders sold a total of 284,127 shares of company stock valued at $11,901,061 in the last 90 days. 0.61% of the stock is currently owned by company insiders.
A number of analysts have weighed in on the company. Credit Suisse Group upped their target price on Envista from $44.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, March 31st. Piper Sandler upped their target price on Envista from $28.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, February 11th. They noted that the move was a valuation call. Morgan Stanley upped their target price on Envista from $36.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 12th. Finally, Zacks Investment Research lowered Envista from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 14th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $37.14.
Envista Company Profile
Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, and markets dental products in the United States and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, prefabricated and custom-built prosthetics, and dental eye loupes to oral surgeons, prosthodontists, and periodontists under the brands, including Nobel Biocare, Alpha Bio Tec, Implant Direct, Logon, Nobel Procera, and Orascoptic; and brackets and wires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Ormco, Insignia, AOA, and Spark brands.
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