Public Employees Retirement System of Ohio Reduces Stake in Envista Holdings Co. (NYSE:NVST)

Public Employees Retirement System of Ohio lowered its stake in shares of Envista Holdings Co. (NYSE:NVST) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,083 shares of the company’s stock after selling 2,540 shares during the period. Public Employees Retirement System of Ohio’s holdings in Envista were worth $2,175,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Envista in the third quarter worth $31,000. GAMMA Investing LLC grew its stake in shares of Envista by 69.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after acquiring an additional 726 shares during the period. Huntington National Bank increased its holdings in Envista by 97.8% in the 3rd 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 last quarter. Blue Trust Inc. raised its stake in 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 period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Envista by 50.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after purchasing an additional 728 shares during the last quarter.

Envista Trading Down 1.7 %

Shares of Envista stock opened at $19.24 on Wednesday. The company has a 50 day simple moving average of $20.12 and a two-hundred day simple moving average of $18.44. The firm has a market cap of $3.31 billion, a PE ratio of -2.48, a PEG ratio of 2.71 and a beta of 1.31. 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 0.42, a current ratio of 2.08 and a quick ratio of 1.77.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Leerink Partnrs upgraded shares of Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Robert W. Baird boosted their target price on shares of Envista from $17.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Evercore ISI increased their target price on Envista from $18.00 to $23.00 and gave the stock an “outperform” rating in a research report on Monday, September 23rd. Wells Fargo & Company assumed coverage on Envista in a research report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price target for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Envista in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $20.65.

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.