Raymond James & Associates Lowers Stock Holdings in Envista Holdings Co. (NYSE:NVST)

Raymond James & Associates cut its holdings in shares of Envista Holdings Co. (NYSE:NVST) by 59.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,775 shares of the company’s stock after selling 609,575 shares during the period. Raymond James & Associates owned about 0.25% of Envista worth $8,354,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. State of Michigan Retirement System increased its stake in Envista by 2.4% during the 1st quarter. State of Michigan Retirement System now owns 42,163 shares of the company’s stock worth $901,000 after buying an additional 1,000 shares during the period. Capstone Investment Advisors LLC increased its position in shares of Envista by 51.3% during the first quarter. Capstone Investment Advisors LLC now owns 64,779 shares of the company’s stock worth $1,385,000 after acquiring an additional 21,950 shares during the period. FORA Capital LLC raised its stake in shares of Envista by 11.1% in the first quarter. FORA Capital LLC now owns 52,198 shares of the company’s stock valued at $1,116,000 after acquiring an additional 5,205 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Envista by 1.0% in the first quarter. Mutual of America Capital Management LLC now owns 196,022 shares of the company’s stock valued at $4,191,000 after purchasing an additional 1,967 shares during the period. Finally, Central Pacific Bank Trust Division acquired a new position in Envista during the 1st quarter worth $479,000.

Envista Stock Performance

Shares of Envista stock opened at $18.79 on Wednesday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of -2.44 and a beta of 1.32. The firm’s fifty day simple moving average is $18.51 and its 200-day simple moving average is $18.04. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.22 and a quick ratio of 1.90. Envista Holdings Co. has a 12 month low of $15.15 and a 12 month high of $25.64.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 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 business had revenue of $633.10 million during the quarter, compared to analyst estimates of $646.88 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. As a group, equities analysts forecast that Envista Holdings Co. will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NVST shares. Stifel Nicolaus increased their price target on Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Thursday, August 8th. Wells Fargo & Company began coverage on shares of Envista in a research report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Bank of America lowered their target price on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and cut their price target for the company from $23.00 to $16.00 in a research note on Thursday, August 8th. Three 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 MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.88.

Insiders Place Their Bets

In related news, CFO Eric D. Hammes bought 24,532 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were acquired 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 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 hyperlink. 1.30% of the stock is owned by insiders.

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.