Principal Financial Group Inc. Sells 173,943 Shares of Envista Holdings Co. (NYSE:NVST)

Principal Financial Group Inc. cut its holdings in Envista Holdings Co. (NYSE:NVST) by 30.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 398,446 shares of the company’s stock after selling 173,943 shares during the quarter. Principal Financial Group Inc.’s holdings in Envista were worth $7,873,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Jupiter Asset Management Ltd. bought a new stake in shares of Envista during the second quarter worth $69,534,000. Pacer Advisors Inc. boosted its position in Envista by 11,202.8% during the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock worth $48,018,000 after buying an additional 2,861,880 shares during the period. Swedbank AB acquired a new position in Envista in the 1st quarter valued at approximately $53,412,000. Nuance Investments LLC increased its stake in shares of Envista by 47.2% in the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after buying an additional 2,256,993 shares during the period. Finally, Ariel Investments LLC increased its position in Envista by 25.3% during the 1st quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock valued at $190,115,000 after purchasing an additional 1,795,258 shares during the period.

Envista Price Performance

NVST opened at $20.26 on Wednesday. The stock’s 50 day moving average price is $19.33 and its 200-day moving average price is $18.12. Envista Holdings Co. has a 52-week low of $15.15 and a 52-week high of $25.64. The stock has a market capitalization of $3.49 billion, a PE ratio of -2.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.30. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.08.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. During the same quarter in the previous year, the firm posted $0.43 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, equities research analysts predict that Envista Holdings Co. will post 0.72 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research note on Monday, September 23rd. Stifel Nicolaus raised their price objective on Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Leerink Partners raised Envista from an “underperform” rating to a “market perform” rating and increased their price target for the company from $16.00 to $23.00 in a research report on Thursday, October 31st. Leerink Partnrs upgraded shares of Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.71.

Envista Company 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.