Jupiter Asset Management Ltd. Sells 2,918,569 Shares of Envista Holdings Co. (NYSE:NVST)

Jupiter Asset Management Ltd. lessened its holdings in shares of Envista Holdings Co. (NYSE:NVST) by 71.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,149,694 shares of the company’s stock after selling 2,918,569 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Envista were worth $22,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of NVST. Iron Triangle Partners LP purchased a new position in Envista during the third quarter valued at $43,262,000. Point72 Asset Management L.P. bought a new position in shares of Envista in the third quarter worth about $37,559,000. Polar Asset Management Partners Inc. lifted its position in shares of Envista by 375.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 1,497,250 shares of the company’s stock valued at $29,586,000 after buying an additional 1,182,450 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Envista during the 4th quarter valued at approximately $16,979,000. Finally, Franklin Resources Inc. increased its holdings in Envista by 26.5% in the 3rd quarter. Franklin Resources Inc. now owns 3,971,662 shares of the company’s stock worth $78,480,000 after acquiring an additional 830,861 shares in the last quarter.

Envista Stock Performance

NYSE:NVST opened at $16.73 on Thursday. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -2.58, a PEG ratio of 1.27 and a beta of 1.33. Envista Holdings Co. has a 1 year low of $15.15 and a 1 year high of $23.00. The stock’s 50 day simple moving average is $20.10 and its two-hundred day simple moving average is $19.67. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.04 and a quick ratio of 1.76.

Envista (NYSE:NVST) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Envista had a negative net margin of 44.56% and a positive return on equity of 3.86%. As a group, equities analysts anticipate that Envista Holdings Co. will post 1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on NVST. Needham & Company LLC reiterated a “hold” rating on shares of Envista in a research report on Thursday, March 6th. New Street Research set a $19.00 target price on shares of Envista in a research note on Thursday, March 6th. Mizuho assumed coverage on Envista in a research note on Wednesday, December 4th. They issued an “underperform” rating and a $20.00 price target for the company. UBS Group decreased their price target on Envista from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Jefferies Financial Group upped their price objective on Envista from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Envista currently has a consensus rating of “Hold” and a consensus target price of $20.18.

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.