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Envista Holdings Opens Above IPO Price

Tanzeel Akhtar

Envista Holdings (NYSE: NVST) made its public debut Wednesday morning, opening at $25.65 after being priced at $22 per share.

The company's shares are listed on the NYSE under the ticker symbol "NVST."

See Also: Envista Holdings IPO: What You Need To Know

Envista is a dental products company that's a spinoff of Danaher Corporation (NYSE: DHR). Envista has notable market positions in the different segments of the dental product industry such as implants, orthodontics and digital imaging technologies. It supplies dental consumables, equipment and services to dental professionals, covering about 90% of dentists' clinical needs for diagnosing, treating and preventing dental conditions as well as improving aesthetics.

The global orthodontics market is growing, including traditional and clear braces. It's projected to reach $2.6 billion by 2023 from $1.5 billion in 2016, according to Allied Market Research.

JPMorgan, Goldman Sachs and Morgan Stanley are lead managers for the offering. The issue will be co-managed by Baird, Evercore ISI and Jefferies.

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