Pacer Advisors Inc. Increases Position in Envista Holdings Co. (NYSE:NVST)

Pacer Advisors Inc. increased its stake in shares of Envista Holdings Co. (NYSE:NVST) by 11,202.8% in the second quarter, HoldingsChannel reports. The firm owned 2,887,426 shares of the company’s stock after buying an additional 2,861,880 shares during the period. Pacer Advisors Inc.’s holdings in Envista were worth $48,018,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Envista by 5.8% during the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock valued at $413,056,000 after buying an additional 944,596 shares during the last quarter. Ariel Investments LLC raised its stake in shares of Envista by 25.3% during the 1st quarter. Ariel Investments LLC now owns 8,892,200 shares of the company’s stock worth $190,115,000 after acquiring an additional 1,795,258 shares in the last quarter. Nuance Investments LLC boosted its stake in Envista by 47.2% in the second quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after acquiring an additional 2,256,993 shares in the last quarter. American Century Companies Inc. grew its holdings in Envista by 15.4% in the second quarter. American Century Companies Inc. now owns 6,726,651 shares of the company’s stock worth $111,864,000 after purchasing an additional 897,141 shares during the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Envista in the second quarter worth $69,534,000.

Envista Stock Performance

Shares of NVST stock opened at $19.00 on Friday. Envista Holdings Co. has a 52-week low of $15.15 and a 52-week high of $28.67. The company has a quick ratio of 1.90, a current ratio of 2.22 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.27 billion, a PE ratio of -26.39 and a beta of 1.31. The business has a 50-day simple moving average of $17.42 and a 200-day simple moving average of $18.49.

Envista (NYSE:NVST) last posted its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.16). The firm had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. Envista’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.43 earnings per share. On average, equities analysts expect that Envista Holdings Co. will post 0.69 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Envista in a research report on Thursday, August 8th. Stifel Nicolaus lowered their target price on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. Robert W. Baird dropped their target price on shares of Envista from $19.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Bank of America decreased their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut Envista from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $23.00 to $16.00 in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.14.

Insider Activity

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $16.33 per share, with a total value of $400,607.56. Following the acquisition, the chief financial officer now owns 24,532 shares of the company’s stock, valued at approximately $400,607.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.30% of the company’s stock.

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.