Massachusetts Financial Services Co. MA cut its holdings in Envista Holdings Co. (NYSE:NVST - Free Report) by 11.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,987,760 shares of the company's stock after selling 390,738 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.74% of Envista worth $59,038,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in Envista during the third quarter worth approximately $31,000. GAMMA Investing LLC raised its stake in shares of Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock valued at $35,000 after acquiring an additional 726 shares during the period. Huntington National Bank raised its stake in shares of Envista by 97.8% in the 3rd quarter. Huntington National Bank now owns 1,919 shares of the company's stock valued at $38,000 after acquiring an additional 949 shares during the period. Blue Trust Inc. raised its stake in shares of Envista by 69.7% in the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company's stock valued at $39,000 after acquiring an additional 804 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Envista by 50.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company's stock valued at $43,000 after acquiring an additional 728 shares during the period.
Envista Price Performance
Shares of NVST stock traded up $0.78 during midday trading on Monday, reaching $22.26. 817,216 shares of the company were exchanged, compared to its average volume of 2,390,782. Envista Holdings Co. has a 12 month low of $15.15 and a 12 month high of $25.64. The company's 50 day moving average price is $19.48 and its two-hundred day moving average price is $18.17. The company has a quick ratio of 1.77, a current ratio of 2.08 and a debt-to-equity ratio of 0.42.
Envista (NYSE:NVST - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.03. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The firm's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. As a group, analysts forecast that Envista Holdings Co. will post 0.72 EPS for the current fiscal year.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on the stock. Bank of America lowered their price target on shares of Envista from $22.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Wells Fargo & Company assumed coverage on shares of Envista in a report on Tuesday, October 8th. They set an "equal weight" rating and a $20.00 price target for the company. Piper Sandler raised their price target on shares of Envista from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Leerink Partnrs raised shares of Envista from a "strong sell" rating to a "hold" rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised their price objective on shares of Envista from $17.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $20.71.
Read Our Latest Research Report on NVST
Envista Company Profile
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Free Report)
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.
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