Enovis Co. (NYSE:ENOV) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama lowered its stake in Enovis Co. (NYSE:ENOV) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 61,607 shares of the company’s stock after selling 780 shares during the period. Retirement Systems of Alabama owned 0.11% of Enovis worth $2,785,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ENOV. Channing Capital Management LLC boosted its position in Enovis by 26.6% during the 4th quarter. Channing Capital Management LLC now owns 1,588,417 shares of the company’s stock worth $88,983,000 after acquiring an additional 334,154 shares during the period. Scout Investments Inc. acquired a new stake in shares of Enovis in the first quarter valued at $6,116,000. Price T Rowe Associates Inc. MD boosted its stake in Enovis by 88.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock valued at $23,802,000 after buying an additional 179,276 shares in the last quarter. UBS Group AG grew its holdings in Enovis by 1,060.8% during the fourth 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 period. Finally, Tributary Capital Management LLC lifted its holdings in Enovis by 15.6% in the 1st quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock valued at $21,131,000 after acquiring an additional 45,745 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on ENOV shares. Needham & Company LLC decreased their price target on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI decreased their price target on Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. reduced their price objective 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. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $69.13.

Enovis Stock Down 0.4 %

ENOV opened at $45.50 on Wednesday. The company has a market capitalization of $2.50 billion, a PE ratio of -30.33 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.10 and a quick ratio of 1.03. Enovis Co. has a fifty-two week low of $39.98 and a fifty-two week high of $65.03. The business has a 50-day moving average of $44.99 and a 200-day moving average of $52.00.

Enovis (NYSE:ENOV) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $525.99 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The business’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. Equities research analysts forecast that Enovis Co. will post 2.61 EPS for the current fiscal year.

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.