MetLife Investment Management LLC Sells 1,629 Shares of Envista Holdings Co. (NYSE:NVST)

MetLife Investment Management LLC cut its stake in Envista Holdings Co. (NYSE:NVST) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 88,868 shares of the company’s stock after selling 1,629 shares during the period. MetLife Investment Management LLC’s holdings in Envista were worth $1,756,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of NVST. Mirae Asset Global Investments Co. Ltd. acquired a new position in Envista during the third quarter worth $31,000. GAMMA Investing LLC grew its holdings in shares of Envista by 69.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $35,000 after purchasing an additional 726 shares during the last quarter. Huntington National Bank grew its holdings in shares of Envista by 97.8% in the 3rd quarter. Huntington National Bank now owns 1,919 shares of the company’s stock worth $38,000 after purchasing an additional 949 shares during the last quarter. Blue Trust Inc. increased its position in shares of Envista by 69.7% during the 3rd quarter. Blue Trust Inc. now owns 1,957 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Envista by 50.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,161 shares of the company’s stock valued at $43,000 after buying an additional 728 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts have recently issued reports on NVST shares. Bank of America cut their target price on shares of Envista from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus lifted their price objective on Envista from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Robert W. Baird increased their target price on Envista from $17.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Leerink Partnrs raised Envista from a “strong sell” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Envista in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.65.

Envista Stock Performance

Shares of Envista stock opened at $20.08 on Friday. Envista Holdings Co. has a 52 week low of $15.15 and a 52 week high of $25.64. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.77 and a current ratio of 2.08. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of -2.58, a PEG ratio of 3.06 and a beta of 1.31. The firm has a fifty day moving average of $19.98 and a two-hundred day moving average of $18.36.

Envista (NYSE:NVST) last released its earnings results on Wednesday, October 30th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $601.00 million for the quarter, compared to analyst estimates of $590.34 million. Envista had a positive return on equity of 3.76% and a negative net margin of 53.42%. The company’s quarterly revenue was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. As a group, equities research analysts predict that Envista Holdings Co. will post 0.72 EPS for the current year.

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.