Dark Forest Capital Management LP Purchases New Position in Enovis Co. (NYSE:ENOV)

Dark Forest Capital Management LP acquired a new stake in Enovis Co. (NYSE:ENOV) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 34,671 shares of the company’s stock, valued at approximately $1,567,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. UBS Group AG grew its holdings in Enovis by 1,060.8% during the 4th quarter. UBS Group AG now owns 333,510 shares of the company’s stock worth $18,683,000 after acquiring an additional 304,779 shares during the last quarter. US Bancorp DE increased its holdings in Enovis by 5.2% in the fourth quarter. US Bancorp DE now owns 12,596 shares of the company’s stock valued at $706,000 after purchasing an additional 627 shares during the period. TD Asset Management Inc raised its position in Enovis by 9.3% during the 4th quarter. TD Asset Management Inc now owns 492,340 shares of the company’s stock worth $27,581,000 after purchasing an additional 41,800 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in Enovis by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock worth $1,303,000 after buying an additional 220 shares during the period. Finally, Pinebridge Investments L.P. grew its position in shares of Enovis by 74.2% in the 4th quarter. Pinebridge Investments L.P. now owns 12,685 shares of the company’s stock valued at $711,000 after buying an additional 5,405 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Trading Down 2.5 %

ENOV opened at $42.41 on Thursday. Enovis Co. has a fifty-two week low of $39.98 and a fifty-two week high of $65.03. The firm has a market capitalization of $2.37 billion, a PE ratio of -28.27 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. The company’s 50-day moving average is $44.55 and its 200 day moving average is $49.56.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $525.20 million during the quarter, compared to the consensus estimate of $525.99 million. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.61 earnings per share. As a group, research analysts predict that Enovis Co. will post 2.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ENOV has been the topic of a number of recent analyst reports. Needham & Company LLC cut their price objective on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Evercore ISI cut their price objective on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.13.

Enovis Profile

Enovis Corporation operates as a medical technology company focus on developing clinically differentiated solutions worldwide. It also manufactures and distributes medical devices which are used for reconstructive surgery, rehabilitation, pain management, and physical therapy. The company operates through Prevention and Recovery, and Reconstructive segments.