Insider Buying: Envista Holdings Co. (NYSE:NVST) CFO Acquires $400,607.56 in Stock

Envista Holdings Co. (NYSE:NVST) CFO Eric D. Hammes purchased 24,532 shares of the stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $16.33 per share, with a total value of $400,607.56. Following the completion of the purchase, the chief financial officer now owns 24,532 shares in the company, valued at $400,607.56. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Envista Trading Up 4.2 %

NYSE NVST opened at $18.03 on Friday. The stock has a market capitalization of $3.10 billion, a price-to-earnings ratio of -25.04, a PEG ratio of 14.74 and a beta of 1.31. Envista Holdings Co. has a 52 week low of $15.15 and a 52 week high of $33.34. The stock’s 50 day moving average price is $16.71 and its two-hundred day moving average price is $19.29. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.93 and a current ratio of 2.27.

Envista (NYSE:NVST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $633.10 million during the quarter, compared to the consensus estimate of $646.88 million. Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 EPS. As a group, analysts anticipate that Envista Holdings Co. will post 1.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Envista

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock valued at $413,056,000 after purchasing an additional 944,596 shares during the last quarter. Ariel Investments LLC raised its position in Envista by 11.0% during the second quarter. Ariel Investments LLC now owns 9,871,152 shares of the company’s stock worth $164,157,000 after acquiring an additional 978,952 shares in the last quarter. Nuance Investments LLC lifted its stake in Envista by 47.2% in the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after acquiring an additional 2,256,993 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Envista by 15.4% during the 2nd quarter. American Century Companies Inc. now owns 6,726,651 shares of the company’s stock worth $111,864,000 after purchasing an additional 897,141 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Envista by 65.3% in the 4th quarter. Franklin Resources Inc. now owns 5,262,092 shares of the company’s stock valued at $126,606,000 after purchasing an additional 2,077,786 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on NVST. Morgan Stanley downgraded shares of Envista from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $33.00 to $21.00 in a research note on Friday, April 26th. Robert W. Baird lowered their price objective on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. The Goldman Sachs Group reduced their target price on Envista from $20.00 to $17.50 and set a “sell” rating on the stock in a report on Friday, May 3rd. Piper Sandler lowered their price target on Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $23.00 to $16.00 in a report on Thursday, August 8th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.14.

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.