Short Interest in Envista Holdings Co. (NYSE:NVST) Decreases By 20.3%

by · The Markets Daily

Envista Holdings Co. (NYSE:NVST – Get Free Report) was the recipient of a large decline in short interest in 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 trading volume of 2,390,000 shares, the short-interest ratio is presently 5.1 days.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NVST shares. Piper Sandler increased their price target on shares of Envista from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Bank of America decreased their price target on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. downgraded Envista from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $23.00 to $16.00 in a research report on Thursday, August 8th. Leerink Partnrs upgraded Envista from a “strong sell” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company initiated coverage on shares of Envista in a report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Envista has an average rating of “Hold” and a consensus price target of $20.71.

View Our Latest Report on NVST

Envista Trading Up 2.4 %

Shares of Envista stock traded up $0.49 on Friday, hitting $20.57. 1,874,091 shares of the company’s stock traded hands, compared to its average volume of 2,357,661. The company has a market capitalization of $3.54 billion, a price-to-earnings ratio of -2.65, a price-to-earnings-growth ratio of 2.86 and a beta of 1.30. The company has a fifty 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 one year low of $15.15 and a one year high of $25.64.

Envista (NYSE:NVST – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $601.00 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the company posted $0.43 earnings per share. As a group, sell-side analysts expect that Envista will post 0.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Envista during the third quarter worth $31,000. GAMMA Investing LLC grew its stake in shares of Envista by 69.8% in 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 in the last quarter. Huntington National Bank raised its holdings in shares of 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 during the last quarter. Blue Trust Inc. lifted its position in shares of Envista by 69.7% during 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 boosted 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 worth $43,000 after purchasing an additional 728 shares during the last quarter.

Envista Company Profile

(Get Free Report)

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.

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