Montrusco Bolton Investments Inc. Acquires 694,581 Shares of Envista Holdings Co. (NYSE:NVST)

Montrusco Bolton Investments Inc. raised its holdings in shares of Envista Holdings Co. (NYSE:NVST – Get Rating) by 26.1% in the third quarter, Holdings Channel reports. The institutional investor owned 3,352,257 shares of the company’s stock after buying an additional 694,581 shares during the quarter. Envista accounts for about 2.9% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 12th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Envista were worth $108,630,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Whittier Trust Co. lifted its position in Envista by 50.1% in the second quarter. Whittier Trust Co. now owns 785 shares of the company’s stock worth $30,000 after purchasing an additional 262 shares during the period. Ronald Blue Trust Inc. increased its stake in Envista by 419.3% in the third quarter. Ronald Blue Trust Inc. now owns 836 shares of the company’s stock valued at $32,000 after acquiring an additional 675 shares during the period. Eagle Bay Advisors LLC acquired a new position in Envista in the second quarter worth about $35,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Envista during the second quarter worth about $42,000. Finally, Covestor Ltd boosted its holdings in Envista by 35.0% during the first quarter. Covestor Ltd now owns 1,273 shares of the company’s stock valued at $62,000 after purchasing an additional 330 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently commented on NVST shares. William Blair restated an “outperform” rating on shares of Envista in a research report on Thursday, November 3rd. Morgan Stanley cut their price target on shares of Envista from $49.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, October 13th. Finally, Piper Sandler reduced their price target on shares of Envista from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, November 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Envista currently has a consensus rating of “Moderate Buy” and an average price target of $46.17.

Envista Price Performance

Shares of Envista stock traded up $0.09 during midday trading on Wednesday, reaching $37.03. The company had a trading volume of 255,392 shares, compared to its average volume of 1,619,049. The stock has a fifty day simple moving average of $34.52 and a 200 day simple moving average of $35.81. Envista Holdings Co. has a 1-year low of $31.67 and a 1-year high of $52.03. The company has a current ratio of 1.09, a quick ratio of 0.85 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $6.04 billion, a price-to-earnings ratio of 25.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.40.

Envista (NYSE:NVST – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. Envista had a net margin of 9.98% and a return on equity of 8.33%. The firm had revenue of $631.10 million during the quarter, compared to analyst estimates of $631.94 million. As a group, equities research analysts forecast that Envista Holdings Co. will post 1.91 earnings per share for the current year.

Envista Company Profile

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Envista Holdings Corporation, together with its subsidiaries, engages in the development, sale, and marketing of dental products in the United States, China, 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, and prefabricated and custom-built prosthetics to oral surgeons, prosthodontists, and periodontists under the Nobel Biocare, Alpha-Bio Tec, Implant Direct, Nobel Procera, and Orascoptic brands; and brackets and wires, tubes and bands, archwires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Insignia, AOA, and Spark brands.