Handelsbanken Fonder AB Sells 897,300 Shares of Envista Holdings Co. (NYSE:NVST)

Handelsbanken Fonder AB cut its stake in Envista Holdings Co. (NYSE:NVST) by 96.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,300 shares of the company’s stock after selling 897,300 shares during the period. Handelsbanken Fonder AB’s holdings in Envista were worth $681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Headinvest LLC bought a new stake in shares of Envista in the third quarter valued at about $28,000. Fifth Third Bancorp raised its holdings in Envista by 98.1% in the 4th quarter. Fifth Third Bancorp now owns 1,254 shares of the company’s stock valued at $30,000 after acquiring an additional 621 shares in the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Envista in the 3rd quarter worth approximately $47,000. Covestor Ltd grew its holdings in shares of Envista by 33.9% during the 3rd quarter. Covestor Ltd now owns 2,462 shares of the company’s stock worth $69,000 after purchasing an additional 624 shares in the last quarter. Finally, Signaturefd LLC increased its position in shares of Envista by 1,297.9% during the fourth quarter. Signaturefd LLC now owns 2,614 shares of the company’s stock valued at $63,000 after purchasing an additional 2,427 shares during the period.

Analyst Upgrades and Downgrades

NVST has been the topic of a number of recent research reports. SVB Leerink assumed coverage on shares of Envista in a research note on Monday, February 26th. They set an “underperform” rating and a $19.00 price target on the stock. William Blair lowered shares of Envista from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 8th. UBS Group initiated coverage on Envista in a report on Friday, January 5th. They set a “neutral” rating and a $26.00 price objective on the stock. Leerink Partnrs restated an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Finally, TheStreet cut Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.90.

Envista Stock Up 1.1 %

Shares of NYSE NVST opened at $20.62 on Tuesday. The company has a quick ratio of 1.90, a current ratio of 2.23 and a debt-to-equity ratio of 0.33. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -33.80, a price-to-earnings-growth ratio of 3.81 and a beta of 1.35. Envista Holdings Co. has a 12-month low of $18.95 and a 12-month high of $38.63. The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $22.65.

Envista (NYSE:NVST) last released its quarterly earnings results on Wednesday, February 7th. The company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.04). Envista had a negative net margin of 3.90% and a positive return on equity of 6.31%. The company had revenue of $645.60 million for the quarter, compared to the consensus estimate of $638.37 million. During the same period last year, the company earned $0.52 earnings per share. Envista’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts expect that Envista Holdings Co. will post 1.43 earnings per share for the current fiscal 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.