Massachusetts Financial Services Co. MA Sells 1,090,179 Shares of Envista Holdings Corporation (NYSE:NVST)

Massachusetts Financial Services Co. MA reduced its holdings in Envista Holdings Corporation (NYSE:NVST - Free Report) by 33.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,180,996 shares of the company's stock after selling 1,090,179 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.29% of Envista worth $37,644,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NVST. Proficio Capital Partners LLC bought a new position in shares of Envista in the fourth quarter valued at $358,000. Raymond James Financial Inc. bought a new stake in shares of Envista in the 4th quarter worth $10,808,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Envista by 17.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,057 shares of the company's stock valued at $811,000 after purchasing an additional 6,320 shares during the last quarter. Swiss National Bank lifted its position in shares of Envista by 0.8% during the fourth quarter. Swiss National Bank now owns 338,200 shares of the company's stock valued at $6,524,000 after purchasing an additional 2,800 shares in the last quarter. Finally, Natixis Advisors LLC boosted its holdings in Envista by 1.8% during the fourth quarter. Natixis Advisors LLC now owns 106,652 shares of the company's stock worth $2,057,000 after purchasing an additional 1,845 shares during the last quarter.

Envista Trading Down 1.5%

NYSE NVST traded down $0.29 on Friday, hitting $19.46. The company's stock had a trading volume of 1,980,932 shares, compared to its average volume of 2,464,622. The firm has a market cap of $3.30 billion, a P/E ratio of -2.98, a PEG ratio of 1.25 and a beta of 1.00. The company's 50-day simple moving average is $18.91 and its 200 day simple moving average is $18.54. Envista Holdings Corporation has a 52-week low of $14.22 and a 52-week high of $23.00. The company has a current ratio of 2.12, a quick ratio of 1.82 and a debt-to-equity ratio of 0.43.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $608.17 million. Envista had a negative net margin of 44.90% and a positive return on equity of 4.07%. The firm's quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 earnings per share. Research analysts predict that Envista Holdings Corporation will post 1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on NVST shares. Morgan Stanley set a $16.00 target price on shares of Envista in a research report on Tuesday, April 15th. UBS Group cut their price target on Envista from $21.00 to $18.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Robert W. Baird upgraded Envista from a "neutral" rating to an "outperform" rating and boosted their price objective for the company from $21.00 to $23.00 in a research note on Tuesday, May 27th. Bank of America cut their target price on shares of Envista from $26.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Piper Sandler reduced their target price on shares of Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.23.

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.