Profit Investment Management LLC Sells 73,058 Shares of Envista Holdings Co. (NYSE:NVST)

Profit Investment Management LLC decreased its position in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 37.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,371 shares of the company's stock after selling 73,058 shares during the period. Envista makes up approximately 1.9% of Profit Investment Management LLC's investment portfolio, making the stock its 17th biggest position. Profit Investment Management LLC owned 0.07% of Envista worth $2,379,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Tweedy Browne Co LLC purchased a new stake in shares of Envista in the first quarter valued at approximately $21,053,000. SG Americas Securities LLC boosted its holdings in shares of Envista by 3,271.2% in the first 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 boosted its holdings in shares of Envista by 12.5% in the second quarter. M&G Plc now owns 306,253 shares of the company's stock valued at $5,206,000 after purchasing an additional 33,923 shares during the period. Duality Advisers LP purchased a new stake in Envista during the first quarter worth $1,903,000. Finally, Vanguard Group Inc. lifted its holdings in Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company's stock worth $413,056,000 after buying an additional 944,596 shares during the period.

Insider Activity at Envista

In related news, CFO Eric D. Hammes bought 24,532 shares of the company's stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the acquisition, the chief financial officer now owns 24,532 shares of the company's stock, valued at approximately $400,607.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI upped their target price on Envista from $18.00 to $23.00 and gave the stock an "outperform" rating in a report on Monday, September 23rd. Robert W. Baird decreased their price objective on Envista from $19.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, July 22nd. Bank of America decreased their price objective on Envista from $22.00 to $19.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Needham & Company LLC reiterated a "hold" rating on shares of Envista in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. lowered Envista from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $23.00 to $16.00 in a report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Envista presently has a consensus rating of "Hold" and a consensus target price of $19.63.

Envista Trading Up 1.2 %

Shares of Envista stock traded up $0.21 during trading on Friday, hitting $18.13. The stock had a trading volume of 1,877,198 shares, compared to its average volume of 2,435,571. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $3.12 billion, a PE ratio of -2.35 and a beta of 1.32. The stock has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $18.24. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $25.64.

Envista (NYSE:NVST - Get Free Report) last released 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 negative net margin of 52.25% and a positive return on equity of 4.86%. The firm had revenue of $633.10 million during the quarter, compared to the consensus estimate of $646.88 million. During the same period in the prior year, the business earned $0.43 EPS. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. On average, research analysts expect that Envista Holdings Co. will post 0.69 EPS for the current fiscal year.

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.