Envista Holdings Co. (NYSE:NVST) Short Interest Down 20.3% in October

Envista Holdings Co. (NYSE:NVST) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 12,270,000 shares, a decline of 20.3% from the October 15th total of 15,390,000 shares. Based on an average daily volume of 2,390,000 shares, the days-to-cover ratio is presently 5.1 days.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company initiated coverage on shares of Envista in a research note on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price target on the stock. Leerink Partners upgraded Envista from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $16.00 to $23.00 in a research report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Envista from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Stifel Nicolaus increased their price objective on shares of Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, Robert W. Baird boosted their price target on Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.71.

Envista Trading Up 2.4 %

NYSE NVST traded up $0.49 on Friday, reaching $20.57. The company had a trading volume of 1,874,091 shares, compared to its average volume of 2,357,661. The firm has a market cap of $3.54 billion, a price-to-earnings ratio of -2.65, a P/E/G ratio of 2.86 and a beta of 1.30. The business has a 50 day moving average of $19.20 and a two-hundred day moving average of $18.12. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.08 and a quick ratio of 1.77. Envista has a fifty-two week low of $15.15 and a fifty-two week high of $25.64.

Envista (NYSE:NVST) last released 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. Envista had a negative net margin of 53.42% and a positive return on equity of 3.76%. The business had revenue of $601.00 million during the quarter, compared to the consensus estimate of $590.34 million. During the same quarter in the prior year, the firm posted $0.43 EPS. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. Analysts forecast that Envista will post 0.72 EPS for the current year.

Institutional Investors Weigh In On Envista

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Swiss National Bank lifted its holdings in shares of Envista by 4.9% in the first quarter. Swiss National Bank now owns 338,500 shares of the company’s stock valued at $7,237,000 after purchasing an additional 15,700 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Envista by 3.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 152,077 shares of the company’s stock worth $3,251,000 after acquiring an additional 4,622 shares in the last quarter. M&G Plc purchased a new stake in shares of Envista in the first quarter valued at about $5,719,000. Edgestream Partners L.P. boosted its holdings in Envista by 45.2% during the first quarter. Edgestream Partners L.P. now owns 272,505 shares of the company’s stock worth $5,826,000 after purchasing an additional 84,767 shares during the last quarter. Finally, Pitcairn Co. bought a new stake in Envista in the 1st quarter worth about $590,000.

About Envista

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.