Renaissance Technologies LLC Has $10.91 Million Stake in Envista Holdings Co. (NYSE:NVST)

Renaissance Technologies LLC decreased its stake in shares of Envista Holdings Co. (NYSE:NVST) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 655,969 shares of the company’s stock after selling 8,824 shares during the period. Renaissance Technologies LLC owned 0.38% of Envista worth $10,909,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Alberta Investment Management Corp boosted its stake in Envista by 41.7% during the 4th quarter. Alberta Investment Management Corp now owns 294,417 shares of the company’s stock valued at $7,084,000 after purchasing an additional 86,700 shares during the period. Tweedy Browne Co LLC bought a new stake in Envista during the 1st quarter valued at approximately $21,053,000. SG Americas Securities LLC boosted its stake in Envista by 3,271.2% during the 1st quarter. SG Americas Securities LLC now owns 144,522 shares of the company’s stock valued at $3,090,000 after purchasing an additional 140,235 shares during the period. M&G Plc lifted its position in shares of Envista by 12.5% in the 2nd quarter. M&G Plc now owns 306,253 shares of the company’s stock worth $5,206,000 after acquiring an additional 33,923 shares during the period. Finally, Norges Bank bought a new stake in shares of Envista in the 4th quarter worth approximately $42,874,000.

Envista Stock Up 0.2 %

NYSE NVST opened at $19.04 on Tuesday. The stock has a fifty day moving average of $17.49 and a 200-day moving average of $18.46. The stock has a market capitalization of $3.27 billion, a P/E ratio of -26.44 and a beta of 1.31. Envista Holdings Co. has a 52 week low of $15.15 and a 52 week high of $28.67. 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 (NYSE:NVST) last released its 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). The firm 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 period last year, the business posted $0.43 earnings per share. On average, equities research analysts forecast that Envista Holdings Co. will post 0.69 EPS for the current year.

Insider Activity

In other news, CFO Eric D. Hammes bought 24,532 shares of the stock in a transaction dated Monday, August 12th. The stock was bought 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 owns 24,532 shares of the company’s stock, valued at $400,607.56. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on NVST shares. Piper Sandler reduced their price objective on Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Bank of America reduced their price objective on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. JPMorgan Chase & Co. downgraded 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 report on Thursday, August 8th. Stifel Nicolaus cut their target price on Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Finally, Evercore ISI raised their target price on Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $19.59.

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.