Summit Investment Advisors Inc. Cuts Stake in Envista Holdings Co. (NYSE:NVST)

Summit Investment Advisors Inc. lessened its holdings in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 42.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,496 shares of the company's stock after selling 25,280 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Envista were worth $665,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of NVST. Geode Capital Management LLC grew its holdings in Envista by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,895,653 shares of the company's stock valued at $57,233,000 after buying an additional 71,435 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Envista during the 3rd quarter valued at $228,000. Franklin Resources Inc. raised its position in shares of Envista by 26.5% in the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company's stock worth $78,480,000 after buying an additional 830,861 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Envista by 30.5% in the 4th quarter. GAMMA Investing LLC now owns 2,304 shares of the company's stock valued at $44,000 after acquiring an additional 538 shares in the last quarter. Finally, First Hawaiian Bank boosted its position in shares of Envista by 19.9% during the 4th quarter. First Hawaiian Bank now owns 32,285 shares of the company's stock valued at $623,000 after acquiring an additional 5,363 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on NVST shares. New Street Research set a $19.00 price target on shares of Envista in a research note on Thursday, March 6th. Wells Fargo & Company set a $19.00 target price on Envista in a research note on Saturday, March 8th. UBS Group cut their price objective on Envista from $23.00 to $21.00 and set a "neutral" rating for the company in a report on Monday, March 10th. Morgan Stanley set a $16.00 price objective on Envista in a report on Tuesday, April 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Envista in a research note on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Envista has an average rating of "Hold" and a consensus target price of $19.96.

Envista Stock Up 0.9 %

Envista stock traded up $0.14 during mid-day trading on Thursday, hitting $15.86. The company had a trading volume of 338,071 shares, compared to its average volume of 2,488,973. The company has a market capitalization of $2.73 billion, a PE ratio of -2.44, a price-to-earnings-growth ratio of 1.27 and a beta of 1.12. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44. Envista Holdings Co. has a 12 month low of $14.22 and a 12 month high of $23.00. The stock's 50 day moving average price is $17.45 and its two-hundred day moving average price is $19.13.

Envista (NYSE:NVST - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. As a group, sell-side analysts anticipate that Envista Holdings Co. will post 1 earnings per share 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.