Envista Holdings Co. (NYSE:NVST) Short Interest Update

Envista Holdings Co. (NYSE:NVST - Get Free Report) was the target of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 10,850,000 shares, a drop of 13.8% from the December 31st total of 12,580,000 shares. Based on an average trading volume of 2,070,000 shares, the days-to-cover ratio is presently 5.2 days.

Institutional Investors Weigh In On Envista

Hedge funds and other institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its holdings in Envista by 1.1% in the second quarter. Envestnet Asset Management Inc. now owns 145,877 shares of the company's stock valued at $2,426,000 after buying an additional 1,648 shares during the period. Bank of Montreal Can lifted its stake in shares of Envista by 91.2% in the 2nd quarter. Bank of Montreal Can now owns 73,629 shares of the company's stock valued at $1,224,000 after purchasing an additional 35,126 shares during the period. Squarepoint Ops LLC boosted its position in shares of Envista by 69.7% during the 2nd quarter. Squarepoint Ops LLC now owns 129,413 shares of the company's stock valued at $2,152,000 after purchasing an additional 53,170 shares in the last quarter. Algert Global LLC grew its stake in Envista by 132.4% during the second quarter. Algert Global LLC now owns 64,258 shares of the company's stock worth $1,069,000 after purchasing an additional 36,608 shares during the period. Finally, Creative Planning grew its stake in Envista by 116.5% during the second quarter. Creative Planning now owns 24,246 shares of the company's stock worth $403,000 after purchasing an additional 13,047 shares during the period.

Envista Price Performance

NYSE:NVST traded up $0.45 on Wednesday, hitting $20.58. The company had a trading volume of 4,262,365 shares, compared to its average volume of 2,025,841. The firm has a 50 day moving average of $20.00 and a two-hundred day moving average of $19.09. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of -2.65, a PEG ratio of 1.82 and a beta of 1.34. Envista has a 52 week low of $15.15 and a 52 week high of $24.79. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NVST shares. Leerink Partnrs raised shares of Envista from a "strong sell" rating to a "hold" rating in a report on Thursday, October 31st. Robert W. Baird increased their price target on Envista from $17.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Envista from $20.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, January 23rd. Piper Sandler upped their target price on Envista from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday. Finally, Needham & Company LLC restated a "hold" rating on shares of Envista in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $20.21.

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.