Swiss National Bank Cuts Stock Position in Envista Holdings Co. (NYSE:NVST)

Swiss National Bank trimmed its holdings in shares of Envista Holdings Co. (NYSE:NVST) by 0.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 335,400 shares of the company’s stock after selling 3,100 shares during the period. Swiss National Bank’s holdings in Envista were worth $6,628,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NVST. GAMMA Investing LLC raised its stake in shares of Envista by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after purchasing an additional 726 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Envista by 50.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after acquiring an additional 728 shares during the period. Victory Capital Management Inc. lifted its stake in Envista by 2.3% during the 2nd quarter. Victory Capital Management Inc. now owns 36,021 shares of the company’s stock valued at $599,000 after acquiring an additional 800 shares during the period. Blue Trust Inc. boosted its holdings in shares of Envista by 69.7% in the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares during the last quarter. Finally, Huntington National Bank increased its stake in shares of Envista by 97.8% in the third quarter. Huntington National Bank now owns 1,919 shares of the company’s stock worth $38,000 after acquiring an additional 949 shares during the period.

Envista Price Performance

NYSE:NVST opened at $22.00 on Wednesday. The stock has a 50 day moving average of $19.61 and a two-hundred day moving average of $18.21. Envista Holdings Co. has a 12 month low of $15.15 and a 12 month high of $25.64. The firm has a market cap of $3.79 billion, a P/E ratio of -2.83, a price-to-earnings-growth ratio of 2.99 and a beta of 1.30. The company has a current ratio of 2.08, a quick ratio of 1.77 and a debt-to-equity ratio of 0.42.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on NVST shares. Wells Fargo & Company started coverage on Envista in a research note on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price objective for the company. Piper Sandler boosted their price target on Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research note on Thursday, October 31st. 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 report on Thursday, August 8th. Finally, JPMorgan Chase & Co. downgraded shares of Envista from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $16.00 in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, 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.