Fmr LLC Grows Stock Holdings in Enovis Co. (NYSE:ENOV)

Fmr LLC grew its holdings in shares of Enovis Co. (NYSE:ENOV) by 20.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,840 shares of the company’s stock after purchasing an additional 484 shares during the quarter. Fmr LLC’s holdings in Enovis were worth $122,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC purchased a new position in Enovis during the second quarter worth about $44,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Enovis during the 3rd quarter valued at about $55,000. Innealta Capital LLC acquired a new position in shares of Enovis during the 2nd quarter valued at about $65,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after acquiring an additional 371 shares during the last quarter. Finally, Heritage Family Offices LLP acquired a new stake in shares of Enovis in the third quarter worth approximately $206,000. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Performance

Shares of ENOV stock opened at $43.12 on Monday. The company’s fifty day simple moving average is $44.74 and its 200-day simple moving average is $44.41. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis Co. has a 52 week low of $38.27 and a 52 week high of $65.03. The company has a market cap of $2.41 billion, a PE ratio of -19.69 and a beta of 1.94.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 EPS 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 company had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s revenue was up 21.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Enovis Co. will post 2.79 EPS for the current year.

Wall Street Analysts Forecast Growth

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

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.