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

Envista Holdings Co. (NYSE:NVST - Get Free Report) saw a significant 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. Approximately 5.5% of the company's shares are sold short. Based on an average trading volume of 3,120,000 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Investors Weigh In On Envista

A number of hedge funds have recently modified their holdings of NVST. Ariel Investments LLC raised its stake in shares of Envista by 0.7% in the first quarter. Ariel Investments LLC now owns 12,144,745 shares of the company's stock valued at $209,618,000 after buying an additional 85,121 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Envista by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 8,387,297 shares of the company's stock valued at $144,760,000 after acquiring an additional 1,625,206 shares during the period. Franklin Resources Inc. grew its position in shares of Envista by 72.6% during the 4th quarter. Franklin Resources Inc. now owns 6,854,506 shares of the company's stock valued at $132,223,000 after purchasing an additional 2,882,844 shares in the last quarter. Gates Capital Management Inc. increased its stake in Envista by 10.0% in the 1st quarter. Gates Capital Management Inc. now owns 5,163,745 shares of the company's stock worth $89,126,000 after acquiring an additional 469,597 shares during the last quarter. Finally, Clarkston Capital Partners LLC raised its holdings in shares of Envista by 9.3% in the 1st quarter. Clarkston Capital Partners LLC now owns 4,686,747 shares of the company's stock valued at $80,893,000 after acquiring an additional 398,672 shares in the last quarter.

Envista Stock Down 0.3%

Shares of NVST stock traded down $0.07 on Thursday, hitting $18.69. The stock had a trading volume of 1,189,539 shares, compared to its average volume of 2,562,096. Envista has a 12-month low of $14.22 and a 12-month 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. The business has a 50 day moving average of $16.72 and a 200 day moving average of $18.71. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -2.88, a price-to-earnings-growth ratio of 1.27 and a beta of 0.99.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.04. The business 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 quarterly revenue was down 1.1% compared to the same quarter last year. During the same period last year, the company posted $0.26 earnings per share. As a group, analysts expect that Envista will post 1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVST. JPMorgan Chase & Co. decreased their price objective on shares of Envista from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, March 6th. Baird R W upgraded Envista from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 27th. UBS Group dropped their price objective on Envista from $21.00 to $18.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Morgan Stanley set a $16.00 target price on Envista in a research note on Tuesday, April 15th. Finally, Robert W. Baird raised 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $20.23.

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.