Northwest Investment Counselors LLC Has $514,000 Stake in Envista Holdings Co. (NYSE:NVST)

Northwest Investment Counselors LLC trimmed its holdings in Envista Holdings Co. (NYSE:NVST) by 15.3% in the third quarter, Holdings Channel reports. The institutional investor owned 26,027 shares of the company’s stock after selling 4,705 shares during the period. Northwest Investment Counselors LLC’s holdings in Envista were worth $514,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVST. Vanguard Group Inc. raised its position in Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock valued at $413,056,000 after purchasing an additional 944,596 shares in the last quarter. Ariel Investments LLC raised its position in Envista by 11.0% during the second quarter. Ariel Investments LLC now owns 9,871,152 shares of the company’s stock valued at $164,157,000 after purchasing an additional 978,952 shares in the last quarter. Nuance Investments LLC raised its position in Envista by 47.2% during the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after purchasing an additional 2,256,993 shares in the last quarter. American Century Companies Inc. raised its position in Envista by 15.4% during the second quarter. American Century Companies Inc. now owns 6,726,651 shares of the company’s stock valued at $111,864,000 after purchasing an additional 897,141 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Envista during the second quarter valued at approximately $69,534,000.

Envista Trading Down 0.7 %

Envista stock traded down $0.13 during trading hours on Monday, reaching $18.75. 536,477 shares of the company’s stock were exchanged, compared to its average volume of 2,405,149. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. The firm’s 50 day simple moving average is $18.32 and its 200 day simple moving average is $18.10. Envista Holdings Co. has a twelve month low of $15.15 and a twelve month high of $25.64. The firm has a market capitalization of $3.22 billion, a PE ratio of -2.45 and a beta of 1.32.

Envista (NYSE:NVST) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.16). The business had revenue of $633.10 million for the quarter, compared to analyst estimates of $646.88 million. Envista had a positive return on equity of 4.86% and a negative net margin of 52.25%. The business’s revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.43 earnings per share. Research analysts predict that Envista Holdings Co. will post 0.69 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler lowered their price objective on shares of Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Evercore ISI increased their price target on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $23.00 to $16.00 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 note on Monday, July 22nd. Finally, Bank of America dropped their price target on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Envista currently has a consensus rating of “Hold” and a consensus target price of $19.63.

Insider Activity

In other news, CFO Eric D. Hammes bought 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The stock was bought at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the purchase, the chief financial officer now directly owns 24,532 shares in the company, valued at approximately $400,607.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

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.