Hedges Asset Management LLC Boosts Holdings in Envista Holdings Co. (NYSE:NVST)

Hedges Asset Management LLC increased its stake in shares of Envista Holdings Co. (NYSE:NVST) by 46.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,800 shares of the company’s stock after buying an additional 14,800 shares during the period. Hedges Asset Management LLC’s holdings in Envista were worth $925,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. State of Alaska Department of Revenue increased its stake in shares of Envista by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 19,887 shares of the company’s stock worth $392,000 after purchasing an additional 1,355 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Envista by 11.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,314 shares of the company’s stock worth $303,000 after purchasing an additional 1,538 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Envista in the third quarter worth about $31,000. Allspring Global Investments Holdings LLC increased its stake in shares of Envista by 50.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock worth $43,000 after purchasing an additional 728 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Envista by 69.7% in the third quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVST. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research note on Thursday, August 8th. Wells Fargo & Company started coverage on shares of Envista in a research note on Tuesday, October 8th. They issued an “equal weight” rating and a $20.00 target price for the company. Bank of America cut their price objective on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Piper Sandler cut their price objective on shares of Envista from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, July 30th. Finally, Robert W. Baird cut their price objective on shares of Envista from $19.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $19.88.

Insiders Place Their Bets

In other Envista news, CFO Eric D. Hammes purchased 24,532 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $16.33 per share, with a total value of $400,607.56. Following the completion of the purchase, the chief financial officer now owns 24,532 shares of the company’s stock, valued at $400,607.56. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.30% of the company’s stock.

Envista Trading Down 0.7 %

Shares of Envista stock opened at $18.89 on Monday. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $25.64. The firm has a market cap of $3.25 billion, a PE ratio of -26.24 and a beta of 1.32. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.22 and a quick ratio of 1.90. The company has a 50 day simple moving average of $18.48 and a two-hundred day simple moving average of $18.04.

Envista (NYSE:NVST) last announced its earnings results on Wednesday, August 7th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.16). The company had revenue of $633.10 million for the quarter, compared to the consensus estimate of $646.88 million. Envista had a negative net margin of 52.25% and a positive return on equity of 4.86%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Analysts expect that Envista Holdings Co. will post 0.69 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.