Magnetar Financial LLC Reduces Stake in Envista Holdings Co. (NYSE:NVST)

Magnetar Financial LLC lessened its stake in shares of Envista Holdings Co. (NYSE:NVST) by 53.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,117 shares of the company’s stock after selling 13,889 shares during the quarter. Magnetar Financial LLC’s holdings in Envista were worth $202,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVST. Versant Capital Management Inc grew its stake in Envista by 1,420.3% during the second quarter. Versant Capital Management Inc now owns 3,147 shares of the company’s stock valued at $52,000 after acquiring an additional 2,940 shares in the last quarter. Innealta Capital LLC bought a new position in Envista in the 2nd quarter valued at $78,000. Summit Securities Group LLC purchased a new position in shares of Envista during the 2nd quarter valued at $85,000. Signaturefd LLC increased its holdings in shares of Envista by 85.9% in the second quarter. Signaturefd LLC now owns 5,345 shares of the company’s stock worth $89,000 after purchasing 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 fourth quarter. TFO Wealth Partners LLC now owns 5,839 shares of the company’s stock worth $140,000 after buying an additional 5,830 shares in the last quarter.

Insider Activity at Envista

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

Wall Street Analysts Forecast Growth

NVST has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating on shares of Envista in a research note on Thursday, August 8th. Piper Sandler decreased their price objective 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 dropped their target price on shares of Envista from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Robert W. Baird cut their price target on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut shares of Envista from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $23.00 to $16.00 in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.59.

Envista Stock Performance

NYSE:NVST opened at $18.64 on Thursday. 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 firm’s fifty day simple moving average is $17.52 and its 200 day simple moving average is $18.44. The stock has a market cap of $3.21 billion, a P/E ratio of -25.89 and a beta of 1.31. Envista Holdings Co. has a twelve month low of $15.15 and a twelve month high of $28.67.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $646.88 million. During the same period in the previous year, the firm posted $0.43 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. As a group, research analysts predict that Envista Holdings Co. will post 0.69 EPS for the current 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.