Short Interest in Envista Holdings Co. (NYSE:NVST) Drops By 15.3%

Envista Holdings Co. (NYSE:NVST - Get Free Report) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 9,290,000 shares, a decline of 15.3% from the April 30th total of 10,970,000 shares. Currently, 5.5% of the company's shares are short sold. Based on an average trading volume of 3,120,000 shares, the short-interest ratio is currently 3.0 days.

Analysts Set New Price Targets

NVST has been the topic of a number of research analyst reports. Wells Fargo & Company set a $19.00 price target on shares of Envista in a research note on Saturday, March 8th. Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and boosted their price target for the company from $21.00 to $23.00 in a research note on Tuesday, May 27th. Piper Sandler reduced their price target on shares of Envista from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 30th. New Street Research set a $19.00 price objective on shares of Envista in a report on Thursday, March 6th. Finally, Needham & Company LLC restated a "hold" rating on shares of Envista in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $20.23.

Envista Stock Up 0.5%

Shares of NVST traded up $0.09 during midday trading on Friday, reaching $18.77. The stock had a trading volume of 1,271,354 shares, compared to its average volume of 2,567,430. The company has a market cap of $3.18 billion, a price-to-earnings ratio of -2.89, a PEG ratio of 1.27 and a beta of 0.99. The company's fifty day simple moving average is $16.78 and its two-hundred day simple moving average is $18.69. Envista has a 1-year low of $14.22 and a 1-year high of $23.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.04 and a quick ratio of 1.76.

Envista (NYSE:NVST - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.20 by $0.04. The firm had revenue of $616.90 million for the quarter, compared to analyst estimates of $608.17 million. Envista had a positive return on equity of 3.86% and a negative net margin of 44.56%. Envista's revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 earnings per share. Equities research analysts expect that Envista will post 1 earnings per share for the current year.

Hedge Funds Weigh In On Envista

Several large investors have recently bought and sold shares of NVST. UMB Bank n.a. increased its holdings in Envista by 214.4% in the first quarter. UMB Bank n.a. now owns 2,094 shares of the company's stock valued at $36,000 after buying an additional 1,428 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings 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. Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Envista in the 4th quarter valued at $86,000. KBC Group NV boosted its holdings in shares of Envista by 63.9% in the 4th quarter. KBC Group NV now owns 7,903 shares of the company's stock valued at $152,000 after buying an additional 3,082 shares in the last quarter. Finally, Palouse Capital Management Inc. boosted its holdings in shares of Envista by 14.4% in the 1st quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock valued at $163,000 after buying an additional 1,186 shares in the last quarter.

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.