Hsbc Holdings PLC Lowers Stock Holdings in Envista Holdings Co. (NYSE:NVST)

Hsbc Holdings PLC cut its stake in shares of Envista Holdings Co. (NYSE:NVST) by 39.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,134 shares of the company’s stock after selling 19,052 shares during the period. Hsbc Holdings PLC’s holdings in Envista were worth $560,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NVST. Venturi Wealth Management LLC raised its stake in shares of Envista by 528.4% during the fourth quarter. Venturi Wealth Management LLC now owns 1,948 shares of the company’s stock worth $38,000 after purchasing an additional 1,638 shares during the last quarter. GAMMA Investing LLC increased its stake in Envista by 30.5% in the 4th quarter. GAMMA Investing LLC now owns 2,304 shares of the company’s stock valued at $44,000 after buying an additional 538 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Envista during the 4th quarter worth $53,000. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Envista in the 4th quarter worth $86,000. Finally, KBC Group NV boosted its holdings in shares of Envista by 63.9% in the fourth quarter. KBC Group NV now owns 7,903 shares of the company’s stock valued at $152,000 after acquiring an additional 3,082 shares in the last quarter.

Envista Stock Performance

NYSE NVST opened at $16.38 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 2.04 and a debt-to-equity ratio of 0.44. The stock has a market cap of $2.78 billion, a price-to-earnings ratio of -2.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97. Envista Holdings Co. has a fifty-two week low of $14.22 and a fifty-two week high of $23.00. The business has a fifty day moving average of $16.59 and a 200-day moving average of $19.03.

Envista (NYSE:NVST) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.04. The company had revenue of $616.90 million for the quarter, compared to analyst estimates of $608.17 million. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 EPS. As a group, analysts predict that Envista Holdings Co. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Wells Fargo & Company set a $19.00 price objective on shares of Envista in a research report on Saturday, March 8th. New Street Research set a $19.00 price target on Envista in a report on Thursday, March 6th. Robert W. Baird set a $21.00 price objective on Envista in a report on Friday. Piper Sandler reduced their target price on Envista from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Wednesday, April 30th. Finally, UBS Group lowered their price target on shares of Envista from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.08.

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.