Envista’s (NASDAQ:NVST) lock-up period is set to expire on Monday, March 16th. Envista had issued 26,768,000 shares in its initial public offering on September 18th. The total size of the offering was $588,896,000 based on an initial share price of $22.00. After the expiration of Envista’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
A number of research analysts have issued reports on the company. Zacks Investment Research downgraded Envista from a “hold” rating to a “sell” rating in a report on Tuesday, February 25th. Evercore ISI assumed coverage on Envista in a report on Tuesday, December 17th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $32.56.
Shares of NVST stock opened at $18.98 on Monday. The stock’s 50 day simple moving average is $27.54. Envista has a 1-year low of $19.15 and a 1-year high of $33.30.
Envista (NASDAQ:NVST) last announced its earnings results on Thursday, January 30th. The company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $720.50 million for the quarter, compared to analyst estimates of $729.38 million. The company’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.59 earnings per share.
Several hedge funds have recently made changes to their positions in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in shares of Envista by 75.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 141,913 shares of the company’s stock worth $4,161,000 after buying an additional 60,913 shares during the period. Franklin Resources Inc. acquired a new position in shares of Envista during the 4th quarter worth approximately $28,372,000. Norges Bank acquired a new position in shares of Envista during the 4th quarter worth approximately $29,755,000. Redpoint Investment Management Pty Ltd acquired a new position in shares of Envista during the 4th quarter worth approximately $7,331,000. Finally, Geode Capital Management LLC purchased a new stake in shares of Envista during the fourth quarter worth approximately $46,947,000.
Envista Company Profile
Envista Holdings Corporation manufactures and sells dental products in the United States and internationally. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, prefabricated and custom-built prosthetics, and dental eye loupes to oral surgeons, prosthodontists, and periodontists under the brands, including Nobel Biocare, Alpha Bio Tec, Implant Direct, Nobel Procera, and Orascoptic; and brackets and wires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Ormco, Insignia, AOA, and Spark brands.
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