Federated Hermes Inc. Sells 63,283 Shares of Envista Holdings Co. (NYSE:NVST)

Federated Hermes Inc. decreased its holdings in Envista Holdings Co. (NYSE:NVST) by 76.2% in the second quarter, HoldingsChannel.com reports. The fund owned 19,713 shares of the company’s stock after selling 63,283 shares during the period. Federated Hermes Inc.’s holdings in Envista were worth $328,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc lifted its position in shares of Envista by 1,420.3% in the 2nd quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock worth $52,000 after purchasing an additional 2,940 shares during the period. Innealta Capital LLC purchased a new stake in Envista in the second quarter worth about $78,000. Summit Securities Group LLC bought a new stake in Envista during the 2nd quarter valued at approximately $85,000. Signaturefd LLC grew its holdings in shares of Envista by 85.9% during the 2nd quarter. Signaturefd LLC now owns 5,345 shares of the company’s stock worth $89,000 after acquiring an additional 2,470 shares during the period. Finally, TFO Wealth Partners LLC raised its position in shares of Envista by 64,777.8% in the 4th quarter. TFO Wealth Partners LLC now owns 5,839 shares of the company’s stock worth $140,000 after acquiring an additional 5,830 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVST. Piper Sandler reduced their price target on Envista from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 30th. JPMorgan Chase & Co. lowered shares of Envista from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $16.00 in a research note on Thursday, August 8th. Stifel Nicolaus dropped their price objective on shares of Envista from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Evercore ISI raised their target price on shares of Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Bank of America dropped their price target on Envista from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Envista presently has a consensus rating of “Hold” and a consensus price target of $19.59.

Envista Trading Down 1.2 %

Shares of NYSE:NVST opened at $18.84 on Wednesday. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $28.67. The stock’s fifty day moving average price is $17.49 and its 200-day moving average price is $18.46. The company has a market cap of $3.24 billion, a P/E ratio of -26.17 and a beta of 1.31. 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 (NYSE:NVST) last released its quarterly earnings data 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). Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The company had revenue of $633.10 million for the quarter, compared to analysts’ expectations of $646.88 million. During the same period in the previous year, the firm earned $0.43 earnings per share. The firm’s revenue for the quarter was down 4.4% on a year-over-year basis. Sell-side analysts expect that Envista Holdings Co. will post 0.69 earnings per share for the current year.

Insider Activity at Envista

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of Envista stock in a transaction dated Monday, August 12th. The stock was purchased at an average price of $16.33 per share, with a total value of $400,607.56. Following the transaction, the chief financial officer now directly owns 24,532 shares of the company’s stock, valued at $400,607.56. The purchase was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by company insiders.

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.