Envista Holdings Co. (NYSE:NVST) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in Envista Holdings Co. (NYSE:NVST - Free Report) by 83.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 120,524 shares of the company's stock after selling 596,372 shares during the quarter. Millennium Management LLC owned about 0.07% of Envista worth $2,325,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of NVST. Venturi Wealth Management LLC lifted its position in Envista by 528.4% in the fourth 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 during the last quarter. Mitsubishi UFJ Trust & Banking Corp acquired a new position in Envista in the fourth quarter valued at about $86,000. KBC Group NV lifted its position in Envista by 63.9% in the fourth 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 during the last quarter. Tower Research Capital LLC TRC lifted its position in Envista by 51.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 11,057 shares of the company's stock valued at $213,000 after buying an additional 3,751 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its position in Envista by 53.9% in the fourth quarter. Sterling Capital Management LLC now owns 11,105 shares of the company's stock valued at $214,000 after buying an additional 3,888 shares during the last quarter.

Envista Stock Down 0.3%

Shares of NYSE NVST traded down $0.07 during mid-day trading on Thursday, reaching $18.69. The company had a trading volume of 1,189,539 shares, compared to its average volume of 2,567,551. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44. Envista Holdings Co. has a 52-week low of $14.22 and a 52-week high of $23.00. The stock has a market cap of $3.17 billion, a P/E ratio of -2.88, a PEG ratio of 1.27 and a beta of 0.99. The firm has a 50 day simple moving average of $16.75 and a two-hundred day simple moving average of $18.70.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Robert W. Baird raised shares of Envista from a "neutral" rating to an "outperform" rating and upped their target price for the company from $21.00 to $23.00 in a research report on Tuesday, May 27th. JPMorgan Chase & Co. reduced their price target on shares of Envista from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company set a $19.00 price target on shares of Envista in a research report on Saturday, March 8th. Morgan Stanley set a $16.00 price target on shares of Envista in a research report on Tuesday, April 15th. Finally, New Street Research set a $19.00 price target on shares of Envista in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus 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.