Massachusetts Financial Services Co. MA Trims Holdings in Envista Holdings Co. (NYSE:NVST)

Massachusetts Financial Services Co. MA lowered its stake in Envista Holdings Co. (NYSE:NVST) by 11.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,987,760 shares of the company’s stock after selling 390,738 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Envista were worth $59,038,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Envista in the third quarter valued at approximately $31,000. GAMMA Investing LLC boosted its holdings in Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $35,000 after purchasing an additional 726 shares during the period. Huntington National Bank boosted its holdings in Envista by 97.8% in the 3rd quarter. Huntington National Bank now owns 1,919 shares of the company’s stock valued at $38,000 after purchasing an additional 949 shares during the period. Blue Trust Inc. grew its position in Envista by 69.7% during the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after buying an additional 804 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Envista by 50.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock worth $43,000 after purchasing an additional 728 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NVST shares. Stifel Nicolaus increased their target price on Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Evercore ISI lifted their target price on shares of Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Wells Fargo & Company started coverage on shares of Envista in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price target for the company. Piper Sandler boosted their target price on Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Bank of America reduced their price target on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.71.

Envista Price Performance

Shares of NVST stock opened at $21.48 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.08. Envista Holdings Co. has a fifty-two week low of $15.15 and a fifty-two week high of $25.64. The firm has a market cap of $3.70 billion, a P/E ratio of -2.76, a P/E/G ratio of 2.98 and a beta of 1.30. The business’s 50 day moving average price is $19.48 and its 200-day moving average price is $18.17.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.43 EPS. On average, equities research analysts anticipate that Envista Holdings Co. will post 0.72 earnings per share for the current 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.