Tweedy Browne Co LLC Takes $21.05 Million Position in Envista Holdings Co. (NYSE:NVST)

Tweedy Browne Co LLC purchased a new stake in Envista Holdings Co. (NYSE:NVST) in the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 984,719 shares of the company’s stock, valued at approximately $21,053,000. Envista accounts for 1.0% of Tweedy Browne Co LLC’s holdings, making the stock its 19th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of NVST. Vanguard Group Inc. lifted its position in Envista by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock valued at $413,056,000 after purchasing an additional 944,596 shares during the last quarter. Franklin Resources Inc. lifted its position in Envista by 65.3% in the 4th quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after purchasing an additional 2,077,786 shares during the last quarter. Nuance Investments LLC lifted its position in Envista by 953.8% in the 4th quarter. Nuance Investments LLC now owns 3,931,054 shares of the company’s stock valued at $94,581,000 after purchasing an additional 3,558,031 shares during the last quarter. River Road Asset Management LLC bought a new stake in Envista in the 4th quarter valued at about $54,931,000. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Envista by 9.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,126,535 shares of the company’s stock worth $51,164,000 after buying an additional 190,572 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of analysts have commented on NVST shares. JPMorgan Chase & Co. dropped their price target on shares of Envista from $29.00 to $23.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. The Goldman Sachs Group dropped their price target on shares of Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird lowered their price objective on shares of Envista from $22.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Morgan Stanley cut shares of Envista from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $33.00 to $21.00 in a research note on Friday, April 26th. Finally, Evercore ISI lowered their price objective on shares of Envista from $24.00 to $19.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.85.

Envista Trading Down 5.0 %

Shares of Envista stock traded down $0.84 during trading on Friday, hitting $15.90. The stock had a trading volume of 1,708,969 shares, compared to its average volume of 2,380,989. The stock has a 50 day simple moving average of $17.80 and a 200 day simple moving average of $20.61. The company has a market capitalization of $2.73 billion, a PE ratio of -22.08, a P/E/G ratio of 13.21 and a beta of 1.31. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. Envista Holdings Co. has a 1 year low of $15.69 and a 1 year high of $36.14.

Envista (NYSE:NVST) last released its earnings results on Wednesday, May 1st. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.05). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The firm had revenue of $623.60 million during the quarter, compared to analysts’ expectations of $634.85 million. During the same period last year, the business earned $0.38 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, research analysts expect that Envista Holdings Co. will post 1.2 EPS for the current fiscal year.

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.