Canvas Wealth Advisors LLC Reduces Position in Envista Holdings Co. (NYSE:NVST)

Canvas Wealth Advisors LLC reduced its stake in Envista Holdings Co. (NYSE:NVST) by 26.5% during the 4th quarter, Holdings Channel reports. The fund owned 36,182 shares of the company’s stock after selling 13,057 shares during the period. Canvas Wealth Advisors LLC’s holdings in Envista were worth $698,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Empowered Funds LLC acquired a new stake in Envista during the fourth quarter worth approximately $374,000. Lecap Asset Management Ltd. acquired a new stake in shares of Envista during the fourth quarter worth $281,000. Hantz Financial Services Inc. grew its position in shares of Envista by 146.6% in the fourth quarter. Hantz Financial Services Inc. now owns 110,489 shares of the company’s stock valued at $2,131,000 after purchasing an additional 65,679 shares during the period. KBC Group NV increased its stake in Envista by 63.9% in the fourth quarter. KBC Group NV now owns 7,903 shares of the company’s stock valued at $152,000 after purchasing an additional 3,082 shares during the last quarter. Finally, Hedges Asset Management LLC lifted its position in Envista by 13.9% during the fourth quarter. Hedges Asset Management LLC now owns 53,300 shares of the company’s stock worth $1,028,000 after buying an additional 6,500 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVST. Leerink Partners raised shares of Envista from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $16.00 to $23.00 in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price target on shares of Envista from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Morgan Stanley boosted their price objective on shares of Envista from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird increased their target price on Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler boosted their price target on Envista from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.21.

Envista Price Performance

Shares of NYSE NVST opened at $21.27 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.04 and a quick ratio of 1.77. Envista Holdings Co. has a 1-year low of $15.15 and a 1-year high of $23.06. The company has a market capitalization of $3.66 billion, a price-to-earnings ratio of -3.28, a PEG ratio of 2.06 and a beta of 1.34. The business has a 50-day moving average of $19.94 and a 200-day moving average of $19.17.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. On average, equities analysts anticipate that Envista Holdings Co. will post 1.06 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.