Short Interest in Envista Holdings Co. (NYSE:NVST) Drops By 14.7%

Envista Holdings Co. (NYSE:NVST) saw a significant decrease in short interest in October. As of October 15th, there was short interest totalling 15,390,000 shares, a decrease 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 currently 6.2 days.

Insider Buying and Selling at Envista

In related news, CFO Eric D. Hammes purchased 24,532 shares of the company’s stock in a transaction on Monday, August 12th. The shares were bought at an average price of $16.33 per share, with a total value of $400,607.56. Following the completion of the acquisition, the chief financial officer now owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Envista

A number of institutional investors have recently added to or reduced their stakes in the company. Ariel Investments LLC grew 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 buying an additional 978,952 shares in the last quarter. Nuance Investments LLC grew its position in Envista by 47.2% during 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. American Century Companies Inc. grew its position in Envista by 15.4% during the second quarter. American Century Companies Inc. now owns 6,726,651 shares of the company’s stock worth $111,864,000 after buying an additional 897,141 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Envista during the second quarter worth about $69,534,000. Finally, Van Lanschot Kempen Investment Management N.V. lifted its stake in Envista by 32.9% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,936,916 shares of the company’s stock worth $48,841,000 after purchasing an additional 727,406 shares during the period.

Envista Stock Performance

NVST stock traded up $0.41 during mid-day trading on Wednesday, reaching $19.20. 4,086,114 shares of the stock traded hands, compared to its average volume of 2,415,144. The company has a quick ratio of 1.90, a current ratio of 2.22 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 business has a 50-day moving average of $18.51 and a two-hundred day moving average of $18.04. The firm has a market capitalization of $3.30 billion, a PE ratio of -2.50 and a beta of 1.32.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $0.43 earnings per share. The firm’s revenue was down 4.4% on a year-over-year basis. As a group, equities analysts predict that Envista will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

NVST has been the topic of several recent analyst reports. Stifel Nicolaus boosted their target price on shares of Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Robert W. Baird cut their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Piper Sandler cut their target price on shares of Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. Evercore ISI boosted their target price on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company began coverage on shares of Envista in a research note on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Envista currently has a consensus rating of “Hold” and an average price target of $19.88.

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.