Envista Holdings Corporation (NYSE:NVST) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. has reduced its holdings in Envista Holdings Corporation by 58.4%, selling over 1.8 million shares in the first quarter.
• Envista's stock has a consensus rating of "Hold" among analysts, with price targets ranging between $17.00 and $23.00.
• The company reported earnings of $0.24 EPS for the most recent quarter, exceeding expectations and highlighting a revenue of $616.9 million.

Pacer Advisors Inc. decreased its holdings in shares of Envista Holdings Corporation (NYSE:NVST - Free Report) by 58.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,345,113 shares of the company's stock after selling 1,886,980 shares during the period. Pacer Advisors Inc. owned approximately 0.79% of Envista worth $23,217,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. UMB Bank n.a. lifted its position 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 purchasing an additional 1,428 shares during the period. Mitsubishi UFJ Trust & Banking Corp acquired a new stake in Envista in the fourth quarter valued at about $86,000. Palouse Capital Management Inc. lifted its position in Envista by 14.4% in the first quarter. Palouse Capital Management Inc. now owns 9,444 shares of the company's stock valued at $163,000 after purchasing an additional 1,186 shares during the period. 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 purchasing an additional 3,751 shares during the period. 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 purchasing an additional 3,888 shares during the period.

Envista Stock Down 0.6%

Shares of NVST traded down $0.12 during midday trading on Wednesday, hitting $20.19. The company had a trading volume of 305,689 shares, compared to its average volume of 2,550,487. The company has a quick ratio of 1.82, a current ratio of 2.12 and a debt-to-equity ratio of 0.43. Envista Holdings Corporation has a 52 week low of $14.22 and a 52 week high of $23.00. The company's 50 day moving average price is $19.23 and its 200 day moving average price is $18.59. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of -3.09, a PEG ratio of 1.31 and a beta of 1.00.

Envista (NYSE:NVST - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.04. Envista had a negative net margin of 44.90% and a positive return on equity of 4.07%. The business 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 earned $0.26 EPS. The company's revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Envista Holdings Corporation will post 1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVST. Baird R W upgraded shares of Envista from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 27th. Piper Sandler reduced their price objective on shares of Envista from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Wednesday, April 30th. UBS Group increased their target price on shares of Envista from $18.00 to $22.00 and gave the company a "neutral" rating in a report on Tuesday. Morgan Stanley set a $16.00 target price on shares of Envista in a report on Tuesday, April 15th. Finally, Bank of America dropped their target price on shares of Envista from $26.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $20.54.

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.