Quantbot Technologies LP Decreases Stake in Envista Holdings Co. (NYSE:NVST)

Quantbot Technologies LP decreased its position in Envista Holdings Co. (NYSE:NVST) by 86.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 42,649 shares of the company’s stock after selling 284,004 shares during the period. Quantbot Technologies LP’s holdings in Envista were worth $843,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in NVST. Qsemble Capital Management LP purchased a new stake in Envista in the third quarter worth $397,000. Daiwa Securities Group Inc. lifted its position in shares of Envista by 24.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 53,332 shares of the company’s stock worth $1,054,000 after purchasing an additional 10,600 shares during the period. Cerity Partners LLC boosted its stake in shares of Envista by 40.1% during the 3rd quarter. Cerity Partners LLC now owns 37,995 shares of the company’s stock valued at $751,000 after purchasing an additional 10,883 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Envista by 22.2% during the third quarter. Pacer Advisors Inc. now owns 3,529,827 shares of the company’s stock valued at $69,749,000 after buying an additional 642,401 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new position in Envista in the third quarter worth about $3,357,000.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company began coverage on Envista in a research report on Tuesday, October 8th. They set an “equal weight” rating and a $20.00 price objective on the stock. Leerink Partnrs raised Envista from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 31st. Stifel Nicolaus raised their price objective on Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. downgraded shares of Envista from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $23.00 to $16.00 in a research report on Thursday, August 8th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Envista currently has a consensus rating of “Hold” and an average target price of $20.71.

Envista Stock Performance

Shares of NYSE NVST opened at $22.29 on Monday. 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 Holdings Co. has a 12-month low of $15.15 and a 12-month high of $25.64. The firm has a market capitalization of $3.84 billion, a price-to-earnings ratio of -2.87, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30. The firm has a 50 day moving average of $19.79 and a 200 day moving average of $18.28.

Envista (NYSE:NVST) last announced its 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. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The company had revenue of $601.00 million for the quarter, compared to analysts’ expectations of $590.34 million. During the same period last year, the firm earned $0.43 EPS. Envista’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, research analysts anticipate that Envista Holdings Co. will post 0.72 earnings per share 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.