Bayesian Capital Management LP Sells 26,200 Shares of Envista Holdings Co. (NYSE:NVST)

Bayesian Capital Management LP reduced its stake in Envista Holdings Co. (NYSE:NVST - Free Report) by 70.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,900 shares of the company's stock after selling 26,200 shares during the period. Bayesian Capital Management LP's holdings in Envista were worth $210,000 at the end of the most recent quarter.

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

Envista Stock Performance

Shares of NYSE NVST traded down $0.15 during midday trading on Friday, hitting $17.62. 1,751,523 shares of the company's stock were exchanged, compared to its average volume of 2,528,518. 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 company's 50 day moving average price is $16.48 and its 200 day moving average price is $19.00. Envista Holdings Co. has a 12 month low of $14.22 and a 12 month high of $23.00. The firm has a market capitalization of $2.99 billion, a PE ratio of -2.71, a price-to-earnings-growth ratio of 1.27 and a beta of 0.97.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate 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 company's revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, analysts predict that Envista Holdings Co. will post 1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on NVST shares. Morgan Stanley set a $16.00 target price on shares of Envista in a report on Tuesday, April 15th. Jefferies Financial Group boosted their price objective on shares of Envista from $20.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lowered their target price on Envista from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Thursday, March 6th. Piper Sandler cut their price target on Envista from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Wednesday, April 30th. Finally, Wells Fargo & Company set a $19.00 price objective on Envista in a report on Saturday, March 8th. One investment 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $20.08.

Envista 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.