Envista Holdings Co. (NYSE:NVST) Sees Significant Decrease in Short Interest

Envista Holdings Co. (NYSE:NVST) was the recipient of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 15,390,000 shares, a drop of 14.7% from the September 30th total of 18,050,000 shares. Based on an average daily trading volume, of 2,480,000 shares, the short-interest ratio is presently 6.2 days.

Analyst Ratings Changes

NVST has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Bank of America reduced their target price on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Robert W. Baird decreased their target price on Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Evercore ISI lifted their price target on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered shares of Envista from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $23.00 to $16.00 in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Envista has an average rating of “Hold” and a consensus target price of $19.88.

Insider Buying and Selling at Envista

In other news, CFO Eric D. Hammes acquired 24,532 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the completion of the transaction, the chief financial officer now directly owns 24,532 shares in the company, valued at $400,607.56. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.30% of the company’s stock.

Institutional Trading of Envista

Several hedge funds and other institutional investors have recently made changes to their positions in NVST. Jupiter Asset Management Ltd. bought a new stake in shares of Envista in the second quarter worth approximately $69,534,000. Pacer Advisors Inc. lifted its holdings in Envista by 11,202.8% in the 2nd quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock worth $48,018,000 after purchasing an additional 2,861,880 shares in the last quarter. Swedbank AB purchased a new position in Envista during the first quarter valued at $53,412,000. Nuance Investments LLC lifted its position in shares of Envista by 47.2% in the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock worth $117,048,000 after buying an additional 2,256,993 shares in the last quarter. Finally, Ariel Investments LLC grew its holdings in shares of Envista by 25.3% in the first quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock valued at $190,115,000 after purchasing an additional 1,795,258 shares in the last quarter.

Envista Trading Down 2.3 %

Shares of NVST stock traded down $0.44 during mid-day trading on Tuesday, reaching $18.79. The stock had a trading volume of 2,052,693 shares, compared to its average volume of 2,407,150. The company has a current ratio of 2.22, a quick ratio of 1.90 and a debt-to-equity ratio of 0.47. Envista has a 52-week low of $15.15 and a 52-week high of $25.64. The firm has a market capitalization of $3.23 billion, a PE ratio of -2.44 and a beta of 1.32. The stock’s 50-day moving average price is $18.51 and its two-hundred day moving average price is $18.04.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The firm had revenue of $633.10 million for the quarter, compared to the consensus estimate of $646.88 million. During the same quarter in the prior year, the firm earned $0.43 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. Equities analysts expect that Envista will post 0.69 earnings per share for the current fiscal year.

Envista Company Profile

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.