JPMorgan Chase & Co. Trims Position in Enovis Co. (NYSE:ENOV)

JPMorgan Chase & Co. lessened its stake in shares of Enovis Co. (NYSE:ENOV) by 36.5% in the third quarter, Holdings Channel reports. The institutional investor owned 190,523 shares of the company’s stock after selling 109,667 shares during the quarter. JPMorgan Chase & Co.’s holdings in Enovis were worth $8,202,000 at the end of the most recent reporting period.

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

Enovis Stock Performance

Shares of ENOV stock opened at $45.49 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. Enovis Co. has a fifty-two week low of $38.27 and a fifty-two week high of $65.03. The stock has a 50 day moving average price of $45.83 and a two-hundred day moving average price of $44.32. The company has a market capitalization of $2.54 billion, a P/E ratio of -20.77 and a beta of 1.94.

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 the consensus estimate 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 firm had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business’s revenue was up 21.0% on a year-over-year basis. Analysts expect that Enovis Co. will post 2.79 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ENOV. Evercore ISI dropped their price target on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. Finally, JMP Securities began coverage on Enovis in a research report on Thursday, October 3rd. They issued 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 seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.