Profit Investment Management LLC Reduces Position in Envista Holdings Co. (NYSE:NVST)

by · The Markets Daily

Profit Investment Management LLC lessened its holdings in shares of Envista Holdings Co. (NYSE:NVST – Free Report) by 37.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,371 shares of the company’s stock after selling 73,058 shares during the period. Envista comprises approximately 1.9% of Profit Investment Management LLC’s investment portfolio, making the stock its 17th biggest position. Profit Investment Management LLC owned 0.07% of Envista worth $2,379,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NVST. GAMMA Investing LLC boosted its position in shares of Envista by 69.8% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $35,000 after buying an additional 726 shares during the period. Versant Capital Management Inc raised its stake in shares of Envista by 1,420.3% during the second quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock valued at $52,000 after acquiring an additional 2,940 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Envista during the second quarter valued at approximately $78,000. Summit Securities Group LLC bought a new stake in shares of Envista during the second quarter valued at approximately $85,000. Finally, Signaturefd LLC raised its stake in shares of Envista by 85.9% during the second quarter. Signaturefd LLC now owns 5,345 shares of the company’s stock valued at $89,000 after acquiring an additional 2,470 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on NVST. Piper Sandler reduced their price objective on shares of Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Tuesday, July 30th. Stifel Nicolaus reduced their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. JPMorgan Chase & Co. downgraded shares of Envista from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Wells Fargo & Company began coverage on Envista in a research report on Tuesday. They set an “equal weight” rating and a $20.00 price target on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Envista has an average rating of “Hold” and an average target price of $19.63.

Get Our Latest Stock Analysis on NVST

Envista Price Performance

Shares of NVST traded up $0.18 during mid-day trading on Friday, hitting $18.10. 703,350 shares of the company were exchanged, compared to its average volume of 2,427,571. Envista Holdings Co. has a 1-year low of $15.15 and a 1-year high of $25.64. 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 company has a 50 day moving average of $18.06 and a 200-day moving average of $18.26. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of -2.34 and a beta of 1.32.

Envista (NYSE:NVST – Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $633.10 million for the quarter, compared to analyst estimates of $646.88 million. During the same quarter last year, the company earned $0.43 EPS. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts expect that Envista Holdings Co. will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling at Envista

In other news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $16.33 per share, with a total value of $400,607.56. Following the transaction, the chief financial officer now owns 24,532 shares in the company, valued at $400,607.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.30% of the stock is owned by insiders.

About Envista

(Free Report)

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.

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