Wedge Capital Management L L P NC Sells 14,314 Shares of Envista Holdings Co. (NYSE:NVST)

Wedge Capital Management L L P NC decreased its stake in Envista Holdings Co. (NYSE:NVST) by 18.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 61,992 shares of the company’s stock after selling 14,314 shares during the period. Wedge Capital Management L L P NC’s holdings in Envista were worth $1,225,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in NVST. American International Group Inc. raised its position in Envista by 0.3% in the fourth quarter. American International Group Inc. now owns 231,461 shares of the company’s stock worth $5,569,000 after acquiring an additional 650 shares during the period. Vanguard Group Inc. raised its position in Envista by 5.8% in the fourth quarter. Vanguard Group Inc. now owns 17,167,767 shares of the company’s stock worth $413,056,000 after acquiring an additional 944,596 shares during the period. PNC Financial Services Group Inc. raised its position in Envista by 271.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 24,123 shares of the company’s stock worth $580,000 after acquiring an additional 17,624 shares during the period. Quadrature Capital Ltd bought a new stake in shares of Envista in the fourth quarter valued at approximately $787,000. Finally, NBC Securities Inc. raised its position in shares of Envista by 60.6% in the first quarter. NBC Securities Inc. now owns 8,879 shares of the company’s stock valued at $189,000 after purchasing an additional 3,351 shares during the period.

Insiders Place Their Bets

In related news, CFO Eric D. Hammes purchased 24,532 shares of the business’s stock in a transaction on Monday, August 12th. The stock was acquired at an average price of $16.33 per share, with a total value of $400,607.56. Following the purchase, the chief financial officer now directly owns 24,532 shares in the company, valued at approximately $400,607.56. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.30% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on NVST shares. Evercore ISI boosted their price target on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research report on Monday, September 23rd. Bank of America lowered their price target on shares of Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Piper Sandler lowered their price target on shares of Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 30th. Stifel Nicolaus lowered their price target on shares of Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company began coverage on shares of Envista in a research report on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Envista currently has an average rating of “Hold” and an average price target of $19.63.

Envista Price Performance

NVST stock opened at $18.18 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.22 and a quick ratio of 1.90. Envista Holdings Co. has a one year low of $15.15 and a one year high of $25.64. The stock has a market cap of $3.12 billion, a PE ratio of -25.25 and a beta of 1.32. The firm has a 50 day simple moving average of $18.23 and a two-hundred day simple moving average of $18.15.

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

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.