Envista Holdings Co. (NYSE:NVST) Sees Large Decline in Short Interest

Envista Holdings Co. (NYSE:NVST) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 10,850,000 shares, a decrease of 13.8% from the December 31st total of 12,580,000 shares. Based on an average daily trading volume, of 2,070,000 shares, the short-interest ratio is currently 5.2 days.

Wall Street Analyst Weigh In

Several research firms have issued reports on NVST. Mizuho assumed coverage on Envista in a report on Wednesday, December 4th. They set an “underperform” rating and a $20.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Leerink Partnrs raised shares of Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on shares of Envista from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Finally, Robert W. Baird raised their price objective on shares of Envista from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.13.

Hedge Funds Weigh In On Envista

A number of large investors have recently added to or reduced their stakes in the company. Nuance Investments LLC lifted its holdings in shares of Envista by 4.4% in the third quarter. Nuance Investments LLC now owns 7,346,534 shares of the company’s stock valued at $145,168,000 after purchasing an additional 308,221 shares in the last quarter. Clarkston Capital Partners LLC lifted its stake in Envista by 0.4% in the 3rd quarter. Clarkston Capital Partners LLC now owns 4,347,300 shares of the company’s stock valued at $85,903,000 after acquiring an additional 17,085 shares in the last quarter. Franklin Resources Inc. boosted its position in Envista by 26.5% during the 3rd quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company’s stock worth $78,480,000 after acquiring an additional 830,861 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Envista by 22.2% during the 3rd quarter. Pacer Advisors Inc. now owns 3,529,827 shares of the company’s stock worth $69,749,000 after acquiring an additional 642,401 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Envista by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,895,653 shares of the company’s stock worth $57,233,000 after purchasing an additional 71,435 shares in the last quarter.

Envista Stock Down 4.2 %

Shares of NYSE:NVST traded down $0.90 during trading on Friday, hitting $20.51. 2,143,085 shares of the company’s stock traded hands, compared to its average volume of 1,715,122. The company has a 50-day moving average price of $20.08 and a 200-day moving average price of $19.01. Envista has a 52 week low of $15.15 and a 52 week high of $24.79. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42. The company has a market cap of $3.53 billion, a price-to-earnings ratio of -2.64, a price-to-earnings-growth ratio of 1.89 and a beta of 1.33.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The company had revenue of $601.00 million during the quarter, compared to analysts’ expectations of $590.34 million. During the same quarter in the prior year, the company earned $0.43 earnings per share. The business’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, research analysts forecast that Envista will post 0.72 EPS for the current fiscal year.

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.