Verition Fund Management LLC Cuts Stock Position in Enovis Co. (NYSE:ENOV)

Verition Fund Management LLC lessened its stake in Enovis Co. (NYSE:ENOV) by 93.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,677 shares of the company’s stock after selling 129,777 shares during the quarter. Verition Fund Management LLC’s holdings in Enovis were worth $417,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Diamond Hill Capital Management Inc. boosted its holdings in Enovis by 7.8% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,004,694 shares of the company’s stock worth $129,352,000 after acquiring an additional 218,660 shares in the last quarter. Royce & Associates LP boosted its holdings in Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after acquiring an additional 346,317 shares in the last quarter. American Century Companies Inc. boosted its holdings in Enovis by 78.6% in the second quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock worth $68,337,000 after acquiring an additional 665,208 shares in the last quarter. River Road Asset Management LLC acquired a new stake in Enovis in the third quarter worth about $51,341,000. Finally, Magnetar Financial LLC boosted its holdings in Enovis by 66.7% in the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock worth $49,937,000 after acquiring an additional 442,051 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ENOV shares. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price target on shares of Enovis in a report on Thursday, November 7th. Evercore ISI decreased their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a report on Tuesday, October 1st. Finally, JMP Securities started coverage on Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Enovis Trading Up 0.3 %

Shares of NYSE:ENOV opened at $46.92 on Friday. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03. The company has a market capitalization of $2.62 billion, a PE ratio of -21.42 and a beta of 1.94. The business has a 50 day moving average of $44.15 and a two-hundred day moving average of $44.68. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40.

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