Envista Holdings Co. (NYSE:NVST) Sees Large Decline in Short Interest

Envista Holdings Co. (NYSE:NVST - Get Free Report) was the target of a large drop in short interest in the month of October. As of October 15th, there was short interest totalling 15,390,000 shares, a drop of 14.7% from the September 30th total of 18,050,000 shares. Based on an average trading volume of 2,480,000 shares, the short-interest ratio is currently 6.2 days.

Analysts Set New Price Targets

NVST has been the topic of a number of research analyst reports. Evercore ISI raised their price objective on shares of Envista from $18.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. Piper Sandler cut their price target on Envista from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Tuesday, July 30th. Wells Fargo & Company assumed coverage on Envista in a research report on Tuesday, October 8th. They set an "equal weight" rating and a $20.00 price objective for the company. Needham & Company LLC reissued a "hold" rating on shares of Envista in a research report on Thursday, August 8th. Finally, Bank of America reduced their price target on Envista from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $19.88.

Insider Activity at Envista

In other news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $16.33 per share, with a total value of $400,607.56. Following the completion of the transaction, the chief financial officer now directly owns 24,532 shares in the company, valued at $400,607.56. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Envista

Institutional investors and hedge funds have recently modified their holdings of the stock. Ariel Investments LLC lifted its holdings in Envista by 11.0% during the 2nd quarter. Ariel Investments LLC now owns 9,871,152 shares of the company's stock worth $164,157,000 after purchasing an additional 978,952 shares during the last quarter. Nuance Investments LLC increased its position in Envista by 47.2% during the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company's stock worth $117,048,000 after acquiring an additional 2,256,993 shares during the period. American Century Companies Inc. raised its stake in Envista by 15.4% in the 2nd quarter. American Century Companies Inc. now owns 6,726,651 shares of the company's stock worth $111,864,000 after purchasing an additional 897,141 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Envista in the 2nd quarter valued at about $69,534,000. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in shares of Envista by 32.9% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,936,916 shares of the company's stock worth $48,841,000 after purchasing an additional 727,406 shares in the last quarter.

Envista Trading Up 1.8 %

Shares of NVST traded up $0.34 during midday trading on Monday, reaching $19.23. The stock had a trading volume of 2,288,003 shares, compared to its average volume of 2,408,593. The firm has a 50 day simple moving average of $18.48 and a 200-day simple moving average of $18.04. Envista has a one year low of $15.15 and a one year high of $25.64. 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 - Get Free Report) last posted its quarterly earnings results 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 positive return on equity of 4.86% and a negative net margin of 52.25%. The business had revenue of $633.10 million for the quarter, compared to the consensus estimate of $646.88 million. During the same quarter in the previous year, the business posted $0.43 EPS. The company's revenue for the quarter was down 4.4% on a year-over-year basis. On average, equities analysts expect that Envista will post 0.69 earnings per share for the current fiscal year.

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.