Confluence Investment Management LLC Buys Shares of 79,622 Enovis Co. (NYSE:ENOV)

Confluence Investment Management LLC purchased a new position in shares of Enovis Co. (NYSE:ENOV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 79,622 shares of the company’s stock, valued at approximately $3,494,000. Confluence Investment Management LLC owned approximately 0.14% of Enovis at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new stake in shares of Enovis in the 3rd quarter valued at about $55,000. Benjamin F. Edwards & Company Inc. raised its stake in Enovis by 28.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after buying an additional 371 shares in the last quarter. FMR LLC lifted its holdings in Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after buying an additional 484 shares during the last quarter. Heritage Family Offices LLP acquired a new position in shares of Enovis in the 3rd quarter worth approximately $206,000. Finally, XTX Topco Ltd bought a new stake in shares of Enovis in the 3rd quarter valued at approximately $217,000. Institutional investors own 98.45% of the company’s stock.

Enovis Trading Up 1.0 %

Enovis stock opened at $44.30 on Friday. The firm has a 50-day moving average price of $45.40 and a two-hundred day moving average price of $44.33. Enovis Co. has a 52-week low of $38.27 and a 52-week high of $65.03. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -20.23 and a beta of 1.94. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

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

Analyst Upgrades and Downgrades

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

About Enovis

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.