What Makes Envista Holdings Corporation (NVST) a Good Investment Opportunity?
Oakmark Funds, advised by Harris Associates, released its “Oakmark Global Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 10.5% compared to a 7.7% return for the MSCI World Index. The fund returned 9.3% since its inception compared to 5.4% for the index. In the first quarter, both the U.S. and non-U.S. portions of the portfolio contributed to the outperformance of the fund. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Oakmark Global Fund highlighted stocks like Envista Holdings Corporation (NYSE:NVST) in the first quarter 2023 investor letter. Headquartered in Brea, California, Envista Holdings Corporation (NYSE:NVST) engages in the business of dental products. On April 12, 2023, Envista Holdings Corporation (NYSE:NVST) stock closed at $38.59 per share. One-month return of Envista Holdings Corporation (NYSE:NVST) was 0.55%, and its shares lost 15.82% of their value over the last 52 weeks. Envista Holdings Corporation (NYSE:NVST) has a market capitalization of $6.299 billion.
Oakmark Global Fund made the following comment about Envista Holdings Corporation (NYSE:NVST) in its Q1 2023 investor letter:
"Envista Holdings Corporation (NYSE:NVST) is a leading dental products manufacturer. You may recall this was a successful investment dating back to 2020 that we sold less than a year ago. During the tumult in smaller capitalization companies in the first quarter, the share price once again met our criteria for investment, and its strong fundamentals matched our expectations. Unfortunately, the market began to agree with our assessment of attractiveness before we could build a full position. This is both a high-quality problem and a reality for investors as value conscious as we are."
Envista Holdings Corporation (NYSE:NVST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Envista Holdings Corporation (NYSE:NVST) at the end of the fourth quarter which was 32 in the previous quarter.
We discussed Envista Holdings Corporation (NYSE:NVST) in another article and shared Artisan Partners' views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
