FMR LLC Cuts Envista Holdings Stake to 0.472%

TL;DR

**FMR LLC just dumped a big chunk of Envista shares, now only holding 0.472%.**

AI Summary

FMR LLC, a major investment firm, and its principal owner, Abigail P. Johnson, have significantly reduced their stake in Envista Holdings Corp (dental equipment and supplies) to 0.472% of common stock, holding 811,559 shares as of February 9, 2024. This marks a substantial decrease from their previous holdings, indicating a shift in their investment strategy for Envista. This matters to investors because a large institutional investor like FMR LLC reducing its position could signal a lack of confidence in the company's future prospects or a reallocation of capital to other opportunities.

Why It Matters

This reduction by a major institutional investor like FMR LLC could signal a bearish outlook on Envista Holdings Corp, potentially influencing other investors' perceptions and the stock price.

Risk Assessment

Risk Level: medium — A significant reduction in ownership by a major institutional investor can indicate potential underlying issues or a lack of confidence, posing a medium risk to current and prospective shareholders.

Analyst Insight

A smart investor would investigate the reasons behind FMR LLC's significant reduction in Envista Holdings Corp shares, potentially reviewing recent company performance, industry trends, and analyst reports before making any investment decisions.

Key Numbers

• 811,559 — Shares Beneficially Owned (Represents the total number of Envista Holdings Corp common shares FMR LLC and Abigail P. Johnson now beneficially own.)
• 0.472% — Percent of Class (Indicates the reduced percentage of Envista Holdings Corp's common stock owned by FMR LLC and Abigail P. Johnson, signaling a significant decrease in their stake.)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• Abigail P. Johnson (person) — reporting person, principal owner of FMR LLC
• Envista Holdings Corp (company) — issuer of the common stock
• 811,559 (dollar_amount) — number of shares beneficially owned by FMR LLC and Abigail P. Johnson
• 0.472% (dollar_amount) — percentage of class beneficially owned by FMR LLC and Abigail P. Johnson
• February 9, 2024 (date) — date as of change for the filing

Forward-Looking Statements

• Envista Holdings Corp's stock price may experience downward pressure in the short term due to the reduced institutional ownership. (Envista Holdings Corp) — medium confidence, target: 3 months
• Other institutional investors might re-evaluate their positions in Envista Holdings Corp following FMR LLC's reduced stake. (Institutional Investors) — medium confidence, target: 6 months

FAQ

From the Filing

0000315066-24-001158.txt : 20240209 0000315066-24-001158.hdr.sgml : 20240209 20240209090302 ACCESSION NUMBER: 0000315066-24-001158 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Envista Holdings Corp CENTRAL INDEX KEY: 0001757073 STANDARD INDUSTRIAL CLASSIFICATION: DENTAL EQUIPMENT & SUPPLIES [3843] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 832206728 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91284 FILM NUMBER: 24611624 BUSINESS ADDRESS: STREET 1: 200 S. KRAEMER BLVD., BLDG. E CITY: BREA STATE: CA ZIP: 92821 BUSINESS PHONE: 714-817-5418 MAIL ADDRESS: STREET 1: 200 S. KRAEMER BLVD., BLDG. E CITY: BREA STATE: CA ZIP: 92821 FORMER COMPANY: FORMER CONFORMED NAME: DH Dental Holding Corp. DATE OF NAME CHANGE: 20181025 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.5 ENVISTA HOLDINGS CORPORATION COMMON STOCK Cusip #29415F104 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #29415F104 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 801,492 Item 6: 0 Item 7: 811,559 Item 8: 0 Item 9: 811,559 Item 11: 0.472% Item 12: HC Cusip #29415F104 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 811,559 Item 8: 0 Item 9: 811,559 Item 11: 0.472% Item 12: IN Item 1(a). Name of Issuer: ENVISTA HOLDINGS CORPORATION Item 1(b). Address of Issuer's Principal Executive Offices: 200 S Kraemer Blvd, Bldg E Brea, CA 92821 US Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 29415F104 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 811,559 (b) Percent of Class: 0.472% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 811,559 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof, the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following (X). Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of ENVISTA HOLDINGS CORPORATION. No one other person's interest in the COMMON STOCK of ENVISTA HOLDINGS CORPORATION is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired t