Federated Hermes Inc. Has $1.69 Million Holdings in Enovis Co. (NYSE:ENOV)

Federated Hermes Inc. decreased its position in Enovis Co. (NYSE:ENOV) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,393 shares of the company’s stock after selling 3,127 shares during the quarter. Federated Hermes Inc.’s holdings in Enovis were worth $1,690,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ENOV. GAMMA Investing LLC boosted its stake in Enovis by 19.9% in the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after purchasing an additional 180 shares during the period. Treasurer of the State of North Carolina lifted its holdings in shares of Enovis by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 23,252 shares of the company’s stock worth $1,303,000 after buying an additional 220 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Enovis by 5.4% in 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 during the period. State of Michigan Retirement System grew its stake in shares of Enovis by 2.5% in the first quarter. State of Michigan Retirement System now owns 12,202 shares of the company’s stock valued at $762,000 after acquiring an additional 300 shares in the last quarter. Finally, Swiss National Bank increased its position in Enovis by 0.3% during the first quarter. Swiss National Bank now owns 97,000 shares of the company’s stock worth $6,058,000 after acquiring an additional 300 shares during the period. Institutional investors own 98.45% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Evercore ISI cut their price objective on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. JPMorgan Chase & Co. cut their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC lowered their price objective on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock 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’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.13.

Enovis Stock Performance

Shares of NYSE:ENOV opened at $43.65 on Friday. Enovis Co. has a 1 year low of $39.98 and a 1 year high of $65.03. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of -29.10 and a beta of 1.92. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. The company’s 50 day simple moving average is $44.73 and its 200 day simple moving average is $50.05.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.03. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The company had revenue of $525.20 million for the quarter, compared to analyst estimates of $525.99 million. During the same quarter last year, the company posted $0.61 EPS. The company’s revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, research analysts predict that Enovis Co. will post 2.7 EPS for the current fiscal 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.