Pacer Advisors Inc. Grows Holdings in Envista Holdings Co. (NYSE:NVST)

Pacer Advisors Inc. boosted its position in shares of Envista Holdings Co. (NYSE:NVST) by 11,202.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,887,426 shares of the company’s stock after acquiring an additional 2,861,880 shares during the period. Pacer Advisors Inc. owned 1.68% of Envista worth $48,018,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in NVST. Canada Pension Plan Investment Board grew its position in shares of Envista by 9,626.9% during the second quarter. Canada Pension Plan Investment Board now owns 252,900 shares of the company’s stock worth $4,206,000 after purchasing an additional 250,300 shares in the last quarter. Palouse Capital Management Inc. grew its holdings in Envista by 33.7% during the 2nd quarter. Palouse Capital Management Inc. now owns 10,411 shares of the company’s stock valued at $173,000 after buying an additional 2,623 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Envista during the second quarter valued at approximately $770,000. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Envista by 85.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 29,809 shares of the company’s stock worth $496,000 after buying an additional 13,763 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its position in shares of Envista by 13.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 13,753 shares of the company’s stock worth $229,000 after acquiring an additional 1,670 shares during the last quarter.

Insider Activity at Envista

In other news, CFO Eric D. Hammes acquired 24,532 shares of Envista stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the acquisition, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NVST shares. Piper Sandler reduced their price target on shares of Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, July 30th. 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. JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. Evercore ISI lowered their price objective on shares of Envista from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. 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 company. Based on data from MarketBeat.com, Envista currently has a consensus rating of “Hold” and a consensus price target of $19.14.

Envista Trading Down 1.7 %

Shares of NYSE NVST opened at $19.00 on Friday. The business’s 50 day moving average price is $17.42 and its 200-day moving average price is $18.49. The company has a market cap of $3.27 billion, a price-to-earnings ratio of -26.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. Envista Holdings Co. has a fifty-two week low of $15.15 and a fifty-two week high of $28.67.

Envista (NYSE:NVST) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The company had revenue of $633.10 million for the quarter, compared to the consensus estimate of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.43 EPS. On average, sell-side analysts expect that Envista Holdings Co. will post 0.69 earnings per share for the current year.

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.