Oppenheimer Asset Management Inc. Acquires 1,953 Shares of Enovis Co. (NYSE:ENOV)

Oppenheimer Asset Management Inc. grew its position in shares of Enovis Co. (NYSE:ENOV) by 19.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,829 shares of the company’s stock after purchasing an additional 1,953 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Enovis were worth $509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in Enovis in the second quarter worth $44,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Enovis in the 3rd quarter worth approximately $55,000. Innealta Capital LLC purchased a new position in Enovis during the 2nd quarter worth $65,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after purchasing an additional 371 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new position in shares of Enovis in the 3rd quarter valued at $206,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ENOV has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. Evercore ISI lowered their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. Finally, JMP Securities started coverage on Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target for the company. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Enovis currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enovis Stock Performance

Shares of Enovis stock opened at $45.26 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of -20.67 and a beta of 1.91. The business has a 50-day moving average of $42.54 and a 200 day moving average of $45.04. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. The firm had revenue of $505.22 million during the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 earnings per share. As a group, sell-side analysts forecast that Enovis Co. will post 2.79 earnings per share for the current year.

Enovis Company 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.