Sumitomo Mitsui Trust Holdings Inc. Cuts Position in Envista Holdings Co. (NYSE:NVST)

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Envista Holdings Co. (NYSE:NVST) by 22.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,762 shares of the company’s stock after selling 6,454 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Envista were worth $548,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NVST. Handelsbanken Fonder AB raised its stake in shares of Envista by 9.5% during the third quarter. Handelsbanken Fonder AB now owns 925,600 shares of the company’s stock valued at $25,806,000 after purchasing an additional 80,000 shares during the period. HGK Asset Management Inc. raised its stake in shares of Envista by 13.1% during the third quarter. HGK Asset Management Inc. now owns 18,376 shares of the company’s stock valued at $512,000 after purchasing an additional 2,129 shares during the period. Dakota Wealth Management raised its stake in shares of Envista by 11.5% during the third quarter. Dakota Wealth Management now owns 8,613 shares of the company’s stock valued at $240,000 after purchasing an additional 890 shares during the period. Raymond James & Associates purchased a new stake in shares of Envista during the third quarter valued at approximately $1,236,000. Finally, Verdence Capital Advisors LLC raised its stake in shares of Envista by 27.2% during the third quarter. Verdence Capital Advisors LLC now owns 10,288 shares of the company’s stock valued at $287,000 after purchasing an additional 2,198 shares during the period.

Envista Price Performance

Shares of Envista stock opened at $20.02 on Friday. The company’s 50-day moving average price is $21.00 and its two-hundred day moving average price is $22.76. The company has a current ratio of 2.23, a quick ratio of 1.90 and a debt-to-equity ratio of 0.33. The stock has a market cap of $3.44 billion, a PE ratio of -32.82, a price-to-earnings-growth ratio of 3.77 and a beta of 1.35. Envista Holdings Co. has a 52 week low of $18.95 and a 52 week high of $38.68.

Envista (NYSE:NVST) last posted its quarterly earnings data on Wednesday, February 7th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.04). The company had revenue of $645.60 million for the quarter, compared to analyst estimates of $638.37 million. Envista had a positive return on equity of 6.31% and a negative net margin of 3.90%. Envista’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 EPS. As a group, sell-side analysts anticipate that Envista Holdings Co. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVST. William Blair downgraded shares of Envista from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 8th. Jefferies Financial Group downgraded shares of Envista from a “buy” rating to a “hold” rating and decreased their price target for the stock from $30.00 to $23.00 in a research report on Friday, February 9th. UBS Group began coverage on shares of Envista in a research report on Friday, January 5th. They set a “neutral” rating and a $26.00 price target for the company. Leerink Partnrs reissued an “underperform” rating on shares of Envista in a research report on Monday, February 26th. Finally, TheStreet downgraded shares of Envista from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.60.

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.