State of New Jersey Common Pension Fund D Cuts Position in Envista Holdings Co. (NYSE:NVST)

State of New Jersey Common Pension Fund D reduced its stake in shares of Envista Holdings Co. (NYSE:NVST) by 19.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,189 shares of the company’s stock after selling 25,006 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.06% of Envista worth $1,699,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NVST. Norges Bank purchased a new position in Envista in the fourth quarter worth $42,874,000. PNC Financial Services Group Inc. grew its stake in Envista by 271.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 24,123 shares of the company’s stock worth $580,000 after buying an additional 17,624 shares during the last quarter. Assetmark Inc. increased its position in Envista by 18.7% during the 4th quarter. Assetmark Inc. now owns 31,601 shares of the company’s stock valued at $760,000 after buying an additional 4,978 shares in the last quarter. United Services Automobile Association raised its stake in Envista by 8.1% in the fourth quarter. United Services Automobile Association now owns 12,284 shares of the company’s stock valued at $296,000 after buying an additional 919 shares during the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in Envista by 64,777.8% in the fourth quarter. TFO Wealth Partners LLC now owns 5,839 shares of the company’s stock worth $140,000 after acquiring an additional 5,830 shares in the last quarter.

Envista Stock Performance

NYSE NVST opened at $18.84 on Wednesday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -26.24 and a beta of 1.31. The stock has a 50-day moving average of $17.49 and a 200 day moving average of $18.46. 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 Holdings Co. has a twelve month low of $15.15 and a twelve month high of $28.67.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. The company had revenue of $633.10 million during the quarter, compared to analysts’ expectations of $646.88 million. During the same period in the previous year, the firm posted $0.43 EPS. Envista’s revenue was down 4.4% compared to the same quarter last year. Sell-side analysts anticipate that Envista Holdings Co. will post 0.69 EPS for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Robert W. Baird lowered their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Stifel Nicolaus dropped their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Evercore ISI upped their target price on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday. Bank of America dropped their price target on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.59.

Envista 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.