Point72 Asia Singapore Pte. Ltd. Invests $521,000 in Envista Holdings Co. (NYSE:NVST)

Point72 Asia Singapore Pte. Ltd. purchased a new position in Envista Holdings Co. (NYSE:NVST - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,390 shares of the company's stock, valued at approximately $521,000.

Other hedge funds have also made changes to their positions in the company. Ariel Investments LLC grew its stake in Envista by 11.0% during the 2nd quarter. Ariel Investments LLC now owns 9,871,152 shares of the company's stock valued at $164,157,000 after acquiring an additional 978,952 shares in the last quarter. Nuance Investments LLC increased its holdings in Envista by 4.4% in the third quarter. Nuance Investments LLC now owns 7,346,534 shares of the company's stock valued at $145,168,000 after buying an additional 308,221 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Envista by 15.4% in the 2nd quarter. American Century Companies Inc. now owns 6,726,651 shares of the company's stock valued at $111,864,000 after buying an additional 897,141 shares in the last quarter. Clarkston Capital Partners LLC boosted its holdings in shares of Envista by 0.4% in the third quarter. Clarkston Capital Partners LLC now owns 4,347,300 shares of the company's stock valued at $85,903,000 after acquiring an additional 17,085 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new stake in shares of Envista during the second quarter worth $69,534,000.

Envista Stock Performance

Shares of NYSE NVST traded down $0.32 during midday trading on Tuesday, hitting $21.99. 1,709,126 shares of the stock traded hands, compared to its average volume of 2,379,750. The firm has a 50-day moving average of $19.92 and a two-hundred day moving average of $18.33. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.08. The firm has a market capitalization of $3.78 billion, a P/E ratio of -2.83, a PEG ratio of 3.10 and a beta of 1.31. Envista Holdings Co. has a one year low of $15.15 and a one year high of $25.64.

Envista (NYSE:NVST - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.03. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The firm had revenue of $601.00 million during the quarter, compared to analyst estimates of $590.34 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. Envista's revenue for the quarter was down 4.8% on a year-over-year basis. On average, equities analysts forecast that Envista Holdings Co. will post 0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NVST has been the topic of several recent analyst reports. Leerink Partnrs raised shares of Envista from a "strong sell" rating to a "hold" rating in a research note on Thursday, October 31st. Stifel Nicolaus increased their target price on Envista from $18.00 to $21.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. Wells Fargo & Company began coverage on Envista in a research report on Tuesday, October 8th. They issued an "equal weight" rating and a $20.00 target price on the stock. Leerink Partners raised shares of Envista from an "underperform" rating to a "market perform" rating and raised their target price for the company from $16.00 to $23.00 in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lowered shares of Envista from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $23.00 to $16.00 in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.71.

Envista 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.