State of Michigan Retirement System Sells 800 Shares of Envista Holdings Co. (NYSE:NVST)

State of Michigan Retirement System lowered its stake in shares of Envista Holdings Co. (NYSE:NVST) by 1.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,363 shares of the company’s stock after selling 800 shares during the quarter. State of Michigan Retirement System’s holdings in Envista were worth $688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVST. Bank of New York Mellon Corp grew its stake in shares of Envista by 7.7% during the second quarter. Bank of New York Mellon Corp now owns 1,772,262 shares of the company’s stock valued at $29,473,000 after purchasing an additional 127,421 shares during the last quarter. Raymond James Trust N.A. lifted its holdings in Envista by 3.8% during the 2nd quarter. Raymond James Trust N.A. now owns 28,959 shares of the company’s stock worth $482,000 after buying an additional 1,072 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. boosted its position in Envista by 32.9% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 2,936,916 shares of the company’s stock valued at $48,841,000 after buying an additional 727,406 shares during the last quarter. Hedges Asset Management LLC acquired a new stake in shares of Envista in the 2nd quarter valued at $532,000. Finally, Shayne & Jacobs LLC raised its position in shares of Envista by 12.0% during the second quarter. Shayne & Jacobs LLC now owns 62,600 shares of the company’s stock worth $1,041,000 after acquiring an additional 6,700 shares during the last quarter.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVST. 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 report on Thursday, August 8th. Evercore ISI lowered their price target on shares of Envista from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research note on Thursday, August 8th. JPMorgan Chase & Co. cut shares of Envista from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $23.00 to $16.00 in a research note on Thursday, August 8th. Finally, Robert W. Baird dropped their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.14.

Envista Trading Down 0.7 %

Shares of NYSE NVST opened at $18.27 on Friday. Envista Holdings Co. has a twelve month low of $15.15 and a twelve month high of $33.01. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -25.37, a P/E/G ratio of 14.74 and a beta of 1.31. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.34. The company’s fifty day moving average is $16.84 and its 200-day moving average is $18.89.

Envista (NYSE:NVST) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.16). Envista had a positive return on equity of 5.84% and a negative net margin of 4.70%. The business had revenue of $633.10 million for the quarter, compared to analyst estimates of $646.88 million. During the same period in the previous year, the business posted $0.43 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Equities research analysts predict that Envista Holdings Co. will post 1.15 EPS for the current year.

Insider Transactions at Envista

In other Envista news, CFO Eric D. Hammes acquired 24,532 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was acquired at an average cost of $16.33 per share, for a total transaction of $400,607.56. Following the transaction, the chief financial officer now owns 24,532 shares of the company’s stock, valued at $400,607.56. The transaction 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 insiders.

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.