Envista Holdings Co. (NYSE:NVST) Short Interest Down 20.3% in October

Envista Holdings Co. (NYSE:NVST) was the target of a large drop in short interest during the month of October. As of October 31st, there was short interest totalling 12,270,000 shares, a drop of 20.3% from the October 15th total of 15,390,000 shares. Based on an average daily trading volume, of 2,390,000 shares, the days-to-cover ratio is presently 5.1 days.

Institutional Trading of Envista

A number of institutional investors have recently modified their holdings of NVST. M&G Plc increased its stake in shares of Envista by 12.5% in the second quarter. M&G Plc now owns 306,253 shares of the company’s stock worth $5,206,000 after acquiring an additional 33,923 shares during the period. Harbor Capital Advisors Inc. grew its position in Envista by 287.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 169,648 shares of the company’s stock worth $2,821,000 after purchasing an additional 125,861 shares during the period. Quadrature Capital Ltd raised its stake in shares of Envista by 110.9% during the 1st quarter. Quadrature Capital Ltd now owns 69,004 shares of the company’s stock valued at $1,476,000 after buying an additional 36,290 shares during the last quarter. Nuance Investments LLC lifted its holdings in shares of Envista by 47.2% in the 2nd quarter. Nuance Investments LLC now owns 7,038,313 shares of the company’s stock valued at $117,048,000 after buying an additional 2,256,993 shares during the period. Finally, WINTON GROUP Ltd purchased a new stake in shares of Envista in the second quarter worth about $7,019,000.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVST. Evercore ISI upped their price objective on Envista from $18.00 to $23.00 and gave the company an “outperform” rating in a research note on Monday, September 23rd. Stifel Nicolaus raised their target price on shares of Envista from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird lifted their target price on shares of Envista from $17.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Leerink Partners upgraded Envista from an “underperform” rating to a “market perform” rating and lifted their price objective for the company from $16.00 to $23.00 in a research note on Thursday, October 31st. Finally, Piper Sandler lifted their price target on shares of Envista from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Envista has a consensus rating of “Hold” and an average price target of $20.71.

Envista Stock Performance

Shares of NYSE NVST traded up $0.49 during midday trading on Friday, hitting $20.57. 1,874,091 shares of the stock traded hands, compared to its average volume of 2,411,125. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.08. The firm has a market capitalization of $3.54 billion, a P/E ratio of -2.58, a PEG ratio of 2.83 and a beta of 1.30. The firm has a 50-day moving average of $19.13 and a two-hundred day moving average of $18.13. Envista has a one year low of $15.15 and a one year high of $25.64.

Envista (NYSE:NVST) last issued its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The company had revenue of $601.00 million for the quarter, compared to the consensus estimate of $590.34 million. During the same quarter last year, the company earned $0.43 EPS. The firm’s quarterly revenue was down 4.8% on a year-over-year basis. On average, equities analysts forecast that Envista will post 0.72 EPS for the current fiscal 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.