Squarepoint Ops LLC Sells 121,344 Shares of Envista Holdings Co. (NYSE:NVST)

Squarepoint Ops LLC lessened its holdings in Envista Holdings Co. (NYSE:NVST - Free Report) by 77.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,219 shares of the company's stock after selling 121,344 shares during the period. Squarepoint Ops LLC's holdings in Envista were worth $699,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NVST. 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. Norges Bank purchased a new position in Envista during the 4th quarter valued at about $38,052,000. Dimensional Fund Advisors LP raised its position in shares of Envista by 19.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,762,091 shares of the company's stock worth $130,440,000 after purchasing an additional 1,089,923 shares during the last quarter. Deerfield Management Company L.P. Series C grew its holdings in shares of Envista by 4,949.9% during the fourth quarter. Deerfield Management Company L.P. Series C now owns 1,018,415 shares of the company's stock valued at $19,645,000 after buying an additional 998,248 shares during the last quarter. Finally, Pzena Investment Management LLC bought a new stake in shares of Envista in the 4th quarter worth $16,979,000.

Envista Stock Performance

NVST stock traded down $0.05 during mid-day trading on Thursday, reaching $18.70. The company had a trading volume of 606,886 shares, compared to its average volume of 2,560,122. 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 stock's 50-day simple moving average is $16.72 and its two-hundred day simple moving average is $18.71. The stock has a market capitalization of $3.17 billion, a P/E ratio of -2.88, a P/E/G ratio of 1.27 and a beta of 0.99. Envista Holdings Co. has a one year low of $14.22 and a one year high of $23.00.

Envista (NYSE:NVST - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. The firm had revenue of $616.90 million during 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%. The firm's quarterly revenue was down 1.1% on a year-over-year basis. During the same period last year, the company posted $0.26 EPS. Research analysts anticipate that Envista Holdings Co. will post 1 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on NVST shares. Piper Sandler dropped their target price on Envista from $18.00 to $17.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 30th. Bank of America decreased their target price on Envista from $26.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. JPMorgan Chase & Co. dropped 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. Baird R W raised Envista from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 27th. Finally, UBS Group reduced their target price on shares of Envista from $21.00 to $18.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.