Invenomic Capital Management LP Sells 437,548 Shares of Envista Holdings Co. (NYSE:NVST)

Invenomic Capital Management LP decreased its position in Envista Holdings Co. (NYSE:NVST) by 59.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 293,188 shares of the company’s stock after selling 437,548 shares during the period. Invenomic Capital Management LP’s holdings in Envista were worth $5,793,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in NVST. Jupiter Asset Management Ltd. bought a new position in Envista in the second quarter valued at about $69,534,000. Pacer Advisors Inc. boosted its holdings in Envista by 11,202.8% during the second quarter. Pacer Advisors Inc. now owns 2,887,426 shares of the company’s stock worth $48,018,000 after buying an additional 2,861,880 shares during the last quarter. Nuance Investments LLC boosted its holdings in Envista by 47.2% during the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock worth $117,048,000 after buying an additional 2,256,993 shares during the last quarter. Iron Triangle Partners LP bought a new position in Envista during the third quarter worth about $43,262,000. Finally, Ariel Investments LLC boosted its holdings in Envista by 11.0% during the second quarter. Ariel Investments LLC now owns 9,871,152 shares of the company’s stock worth $164,157,000 after buying an additional 978,952 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on Envista in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price target on the stock. Stifel Nicolaus lifted their target price on Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Envista in a research report on Thursday, October 31st. Piper Sandler boosted their price target on Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Leerink Partners upgraded Envista from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $16.00 to $23.00 in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Envista presently has an average rating of “Hold” and an average price target of $20.71.

Envista Price Performance

Shares of NVST opened at $22.07 on Tuesday. Envista Holdings Co. has a 52-week low of $15.15 and a 52-week high of $25.64. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.77. The business’s 50 day moving average price is $19.79 and its two-hundred day moving average price is $18.28.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 positive return on equity of 3.76% and a negative net margin of 53.42%. The company’s revenue was down 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 earnings per share. Research analysts forecast that Envista Holdings Co. will post 0.72 EPS for the current year.

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.