Hsbc Holdings PLC Reduces Stake in Envista Holdings Co. (NYSE:NVST)

Hsbc Holdings PLC cut its holdings in shares of Envista Holdings Co. (NYSE:NVST - Free Report) by 39.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,134 shares of the company's stock after selling 19,052 shares during the quarter. Hsbc Holdings PLC's holdings in Envista were worth $560,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in shares of Envista by 26.5% during the third quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company's stock valued at $78,480,000 after buying an additional 830,861 shares during the period. GAMMA Investing LLC lifted its stake in Envista by 30.5% during the fourth quarter. GAMMA Investing LLC now owns 2,304 shares of the company's stock worth $44,000 after purchasing an additional 538 shares during the last quarter. First Hawaiian Bank lifted its position in Envista by 19.9% in the 4th quarter. First Hawaiian Bank now owns 32,285 shares of the company's stock worth $623,000 after buying an additional 5,363 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Envista in the 4th quarter valued at $53,000. Finally, Profit Investment Management LLC raised its position in Envista by 6.0% in the 4th quarter. Profit Investment Management LLC now owns 127,597 shares of the company's stock worth $2,461,000 after purchasing an additional 7,226 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. New Street Research set a $19.00 price target on Envista in a research note on Thursday, March 6th. Jefferies Financial Group boosted their price objective on shares of Envista from $20.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 23rd. UBS Group lowered their price target on shares of Envista from $21.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. 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 report on Thursday, March 6th. Finally, Wells Fargo & Company set a $19.00 price target on Envista in a research report on Saturday, March 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.08.

Envista Stock Up 4.9%

Shares of NVST traded up $0.86 during midday trading on Monday, reaching $18.45. 641,898 shares of the stock were exchanged, compared to its average volume of 2,521,315. Envista Holdings Co. has a 52 week low of $14.22 and a 52 week high of $23.00. The company has a current ratio of 2.04, a quick ratio of 1.76 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $3.13 billion, a P/E ratio of -2.86, a PEG ratio of 1.27 and a beta of 0.97. The company's 50 day moving average is $16.48 and its two-hundred day moving average is $19.00.

Envista (NYSE:NVST - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $608.17 million. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. The firm's revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 earnings per share. On average, sell-side analysts anticipate that Envista Holdings Co. will post 1 earnings per share for the current year.

Envista Company 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.