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

Envista Holdings Co. (NYSE:NVST) saw a large 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 short-interest ratio is presently 5.1 days.

Hedge Funds Weigh In On Envista

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Envista in the 3rd quarter valued at about $31,000. GAMMA Investing LLC increased its position in shares of Envista by 69.8% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after purchasing an additional 726 shares during the last quarter. Huntington National Bank raised its stake in Envista by 97.8% in the third quarter. Huntington National Bank now owns 1,919 shares of the company’s stock valued at $38,000 after purchasing an additional 949 shares in the last quarter. Blue Trust Inc. raised its stake in Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Envista by 50.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock worth $43,000 after buying an additional 728 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVST. 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 research note on Thursday, October 31st. Evercore ISI upped their price objective on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Leerink Partnrs raised Envista from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 31st. Leerink Partners raised Envista from an “underperform” rating to a “market perform” rating and upped their price target for the company from $16.00 to $23.00 in a research report on Thursday, October 31st. Finally, Bank of America decreased their price objective on Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. 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 company’s stock. Based on data from MarketBeat, Envista has an average rating of “Hold” and a consensus target price of $20.71.

Envista Price Performance

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

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm 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 business’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same period last year, the firm earned $0.43 EPS. As a group, research analysts anticipate that Envista will post 0.72 EPS for the current year.

Envista Company 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.