Envista (NYSE:NVST) Shares Down 3.6%

Envista Holdings Co. (NYSE:NVST) shares were down 3.6% during trading on Wednesday . The stock traded as low as $17.17 and last traded at $17.17. Approximately 1,322,798 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 2,463,946 shares. The stock had previously closed at $17.82.

Wall Street Analysts Forecast Growth

NVST has been the topic of several research analyst reports. Bank of America lowered their target price on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Robert W. Baird cut their price objective on shares of Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered shares of Envista from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Stifel Nicolaus reduced their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of Envista in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Envista presently has an average rating of “Hold” and an average price target of $19.14.

Envista Trading Down 2.2 %

The firm has a market cap of $3.00 billion, a P/E ratio of -24.76 and a beta of 1.31. The business has a 50 day moving average of $16.95 and a two-hundred day moving average of $18.76. 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 (NYSE:NVST) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The company had revenue of $633.10 million during the quarter, compared to analyst estimates of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. Analysts predict that Envista Holdings Co. will post 0.69 earnings per share for the current year.

Insider Buying and Selling at Envista

In other Envista news, CFO Eric D. Hammes bought 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The stock was bought at an average price of $16.33 per share, with a total value of $400,607.56. Following the completion of the transaction, the chief financial officer now owns 24,532 shares in the company, valued at approximately $400,607.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Institutional Investors Weigh In On Envista

Several institutional investors have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in Envista by 1,420.3% in the 2nd quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock valued at $52,000 after acquiring an additional 2,940 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Envista by 538.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,209 shares of the company’s stock valued at $77,000 after buying an additional 2,706 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of Envista in the 2nd quarter worth approximately $78,000. Summit Securities Group LLC bought a new position in Envista in the 2nd quarter valued at $85,000. Finally, Signaturefd LLC increased its position in shares of Envista by 85.9% during the 2nd quarter. Signaturefd LLC now owns 5,345 shares of the company’s stock valued at $89,000 after purchasing an additional 2,470 shares during the last quarter.

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.