Verition Fund Management LLC Lowers Stock Position in Envista Holdings Co. (NYSE:NVST)

Verition Fund Management LLC reduced its stake in shares of Envista Holdings Co. (NYSE:NVST) by 61.1% during the first quarter, Holdings Channel reports. The institutional investor owned 46,583 shares of the company’s stock after selling 73,141 shares during the period. Verition Fund Management LLC’s holdings in Envista were worth $1,901,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Carroll Financial Associates Inc. bought a new stake in Envista during the 1st quarter valued at approximately $29,000. Altshuler Shaham Ltd bought a new stake in Envista during the 1st quarter valued at approximately $41,000. AllSquare Wealth Management LLC bought a new stake in Envista during the 1st quarter valued at approximately $55,000. Arlington Partners LLC bought a new stake in Envista during the 1st quarter valued at approximately $66,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Envista by 63.9% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 1,796 shares of the company’s stock valued at $73,000 after purchasing an additional 700 shares during the period.

In related news, SVP Mischa Reis sold 1,049 shares of the business’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $43.73, for a total transaction of $45,872.77. Following the completion of the transaction, the senior vice president now owns 49,159 shares in the company, valued at approximately $2,149,723.07. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard H. Yu sold 35,021 shares of the business’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $45.17, for a total value of $1,581,898.57. Following the transaction, the chief financial officer now owns 66,297 shares of the company’s stock, valued at approximately $2,994,635.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,911 shares of company stock worth $3,362,955. Corporate insiders own 0.82% of the company’s stock.

Several brokerages recently issued reports on NVST. Piper Sandler lifted their target price on Envista from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, May 6th. TheStreet raised Envista from a “d+” rating to a “c” rating in a research note on Thursday, May 13th. Zacks Investment Research raised Envista from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research note on Saturday, May 8th. Morgan Stanley lifted their price objective on Envista from $42.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, May 7th. Finally, Credit Suisse Group lifted their price objective on Envista from $49.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, May 6th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Envista has an average rating of “Buy” and a consensus price target of $43.33.

NYSE NVST opened at $42.30 on Thursday. The company has a market cap of $6.80 billion, a P/E ratio of 62.21, a P/E/G ratio of 0.82 and a beta of 1.93. The company has a current ratio of 1.02, a quick ratio of 0.77 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average is $43.28. Envista Holdings Co. has a fifty-two week low of $20.97 and a fifty-two week high of $46.52.

Envista (NYSE:NVST) last released its earnings results on Wednesday, May 5th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.23. The firm had revenue of $709.20 million for the quarter, compared to the consensus estimate of $636.89 million. Envista had a return on equity of 6.93% and a net margin of 5.00%. On average, research analysts expect that Envista Holdings Co. will post 1.89 EPS for the current fiscal year.

Envista Profile

Envista Holdings Corporation, together with its subsidiaries, develops, manufactures, and markets dental products in the United States and internationally. The company operates in two segments, Specialty Products & Technologies and Equipment & Consumables. The company's Specialty Products & Technologies segment provides dental implant systems, guided surgery systems, biomaterials, prefabricated and custom-built prosthetics, and dental eye loupes to oral surgeons, prosthodontists, and periodontists under the brands, including Nobel Biocare, Alpha Bio Tec, Implant Direct, Logon, Nobel Procera, and Orascoptic; and brackets and wires, clear aligners, digital orthodontic treatments, retainers, and other orthodontic laboratory products under the Damon, Ormco, Insignia, AOA, and Spark brands.

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Institutional Ownership by Quarter for Envista (NYSE:NVST)

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