Nuance Investments LLC Trims Stock Holdings in Envista Holdings Co. (NYSE:NVST)

Nuance Investments LLC cut its stake in Envista Holdings Co. (NYSE:NVST) by 34.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,802,214 shares of the company’s stock after selling 2,544,320 shares during the quarter. Envista accounts for 3.7% of Nuance Investments LLC’s holdings, making the stock its 8th biggest position. Nuance Investments LLC owned 2.79% of Envista worth $92,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NVST. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Envista in the fourth quarter worth $53,000. Lecap Asset Management Ltd. acquired a new stake in Envista during the 4th quarter worth $281,000. Hotchkis & Wiley Capital Management LLC bought a new position in Envista during the third quarter worth about $14,965,000. Geode Capital Management LLC grew its stake in Envista by 2.5% in the third quarter. Geode Capital Management LLC now owns 2,895,653 shares of the company’s stock valued at $57,233,000 after acquiring an additional 71,435 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Envista in the third quarter worth about $521,000.

Wall Street Analysts Forecast Growth

NVST has been the subject of a number of research reports. Piper Sandler increased their target price on Envista from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research report on Thursday, March 6th. JPMorgan Chase & Co. cut their price objective on shares of Envista from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, March 6th. Mizuho began coverage on Envista in a research report on Wednesday, December 4th. They set an “underperform” rating and a $20.00 price objective for the company. Finally, New Street Research set a $19.00 price target on shares of Envista in a research report on Thursday, March 6th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Envista has a consensus rating of “Hold” and a consensus target price of $20.18.

Envista Stock Performance

NYSE NVST opened at $17.44 on Wednesday. Envista Holdings Co. has a 52-week low of $15.15 and a 52-week high of $23.00. The stock has a market cap of $3.00 billion, a PE ratio of -2.69, a P/E/G ratio of 1.27 and a beta of 1.33. The firm has a 50-day moving average of $19.70 and a 200-day moving average of $19.61. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.76 and a current ratio of 2.04.

Envista (NYSE:NVST) last posted its earnings results on Wednesday, February 5th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. On average, sell-side analysts anticipate that Envista Holdings Co. will post 1 EPS for the current 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.