Primecap Management Co. CA Sells 3,333 Shares of Enovis Co. (NYSE:ENOV)

Primecap Management Co. CA lessened its stake in shares of Enovis Co. (NYSE:ENOV) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 85,300 shares of the company’s stock after selling 3,333 shares during the period. Primecap Management Co. CA owned approximately 0.16% of Enovis worth $3,856,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ENOV. Charles Schwab Investment Management Inc. grew its holdings in Enovis by 5.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 471,047 shares of the company’s stock valued at $26,388,000 after purchasing an additional 26,120 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Enovis during the fourth quarter worth approximately $41,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Enovis by 5.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,185 shares of the company’s stock valued at $290,000 after acquiring an additional 264 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Enovis in the fourth quarter valued at approximately $296,000. Finally, Brown Advisory Inc. bought a new position in Enovis in the fourth quarter worth approximately $428,000. 98.45% of the stock is currently owned by institutional investors.

Enovis Stock Performance

ENOV stock opened at $43.64 on Thursday. The firm has a 50-day simple moving average of $44.79 and a two-hundred day simple moving average of $50.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26. Enovis Co. has a one year low of $39.98 and a one year high of $65.03. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -29.09 and a beta of 1.92.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The business had revenue of $525.20 million for the quarter, compared to analyst estimates of $525.99 million. During the same period in the previous year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities analysts forecast that Enovis Co. will post 2.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ENOV has been the subject of several research reports. Evercore ISI lowered their target price on Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Needham & Company LLC lowered their price objective on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, JPMorgan Chase & Co. cut their target price on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Enovis presently has a consensus rating of “Moderate Buy” and an average target price of $69.13.

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.