Iron Triangle Partners LP Invests $43.26 Million in Envista Holdings Co. (NYSE:NVST)

Iron Triangle Partners LP bought a new position in Envista Holdings Co. (NYSE:NVST) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 2,189,369 shares of the company’s stock, valued at approximately $43,262,000. Envista makes up about 6.0% of Iron Triangle Partners LP’s portfolio, making the stock its 6th biggest position. Iron Triangle Partners LP owned 1.27% of Envista as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in Envista in the third quarter valued at $31,000. GAMMA Investing LLC raised its stake in Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after purchasing an additional 726 shares in the last quarter. Huntington National Bank grew its position in Envista by 97.8% in the third quarter. Huntington National Bank now owns 1,919 shares of the company’s stock valued at $38,000 after acquiring an additional 949 shares during the last quarter. Blue Trust Inc. grew its position in shares of Envista by 69.7% in the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock valued at $39,000 after buying an additional 804 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Envista by 50.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after purchasing an additional 728 shares during the period.

Envista Trading Up 0.1 %

NYSE NVST opened at $22.31 on Tuesday. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $25.64. The stock’s 50-day moving average price is $19.79 and its two-hundred day moving average price is $18.28. 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. Envista’s quarterly revenue was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.43 earnings per share. As a group, equities research analysts expect that Envista Holdings Co. will post 0.72 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NVST shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research note on Thursday, October 31st. Robert W. Baird lifted their price target on Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler increased their target price on Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Leerink Partnrs upgraded Envista from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Evercore ISI lifted their price target 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. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.71.

Envista 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.