Raymond James & Associates Decreases Holdings in Envista Holdings Co. (NYSE:NVST)

Raymond James & Associates reduced its position in Envista Holdings Co. (NYSE:NVST) by 59.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 422,775 shares of the company’s stock after selling 609,575 shares during the period. Raymond James & Associates’ holdings in Envista were worth $8,354,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the last quarter. Marathon Asset Management Ltd grew its stake in Envista by 2.4% in the 3rd quarter. Marathon Asset Management Ltd now owns 1,136,350 shares of the company’s stock valued at $22,454,000 after acquiring an additional 26,453 shares during the last quarter. Creative Planning increased its holdings in Envista by 30.2% during the 3rd quarter. Creative Planning now owns 31,575 shares of the company’s stock valued at $624,000 after acquiring an additional 7,329 shares in the last quarter. GAMMA Investing LLC raised its position in Envista by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after acquiring an additional 726 shares during the last quarter. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Envista by 24.3% in the third quarter. Handelsbanken Fonder AB now owns 49,100 shares of the company’s stock valued at $970,000 after purchasing an additional 9,600 shares in the last quarter.

Analyst Upgrades and Downgrades

NVST has been the subject of a number of recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research note on Thursday, August 8th. Robert W. Baird dropped their price target on Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Evercore ISI upped their price objective on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Wells Fargo & Company started 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. Finally, Bank of America cut their target price on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.88.

Insiders Place Their Bets

In other Envista news, CFO Eric D. Hammes acquired 24,532 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was bought at an average price 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 of the company’s stock, valued at approximately $400,607.56. The transaction 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 insiders.

Envista Stock Performance

Shares of NVST stock opened at $18.79 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.90 and a current ratio of 2.22. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of -2.44 and a beta of 1.32. Envista Holdings Co. has a one year low of $15.15 and a one year high of $25.64. The company has a 50 day moving average price of $18.51 and a 200 day moving average price of $18.04.

Envista (NYSE:NVST) last released its quarterly earnings data 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 firm had revenue of $633.10 million for the quarter, compared to analyst estimates of $646.88 million. During the same quarter in the previous year, the company earned $0.43 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. Sell-side analysts anticipate that Envista Holdings Co. will post 0.69 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.