Enovis Co. (NYSE:ENOV) Short Interest Update

Enovis Co. (NYSE:ENOV) saw a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 4,760,000 shares, an increase of 7.2% from the October 15th total of 4,440,000 shares. Based on an average trading volume of 640,400 shares, the short-interest ratio is presently 7.4 days. Currently, 8.6% of the shares of the company are short sold.

Enovis Stock Performance

Shares of NYSE:ENOV traded up $0.15 on Tuesday, reaching $45.69. The company’s stock had a trading volume of 17,491 shares, compared to its average volume of 579,245. The company has a 50-day simple moving average of $42.44 and a 200 day simple moving average of $45.12. 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 has a 52-week low of $38.27 and a 52-week high of $65.03.

Enovis (NYSE:ENOV) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.11. The business had revenue of $505.22 million for the quarter, compared to the consensus estimate of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. As a group, analysts forecast that Enovis will post 2.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ENOV. JPMorgan Chase & Co. dropped their price target on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective for the company. Finally, Evercore ISI dropped their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Institutional Investors Weigh In On Enovis

Hedge funds and other institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its holdings in Enovis by 0.3% during the 1st quarter. Swiss National Bank now owns 97,000 shares of the company’s stock valued at $6,058,000 after acquiring an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after buying an additional 371 shares in the last quarter. Pitcairn Co. boosted its position in Enovis by 6.8% in the 1st quarter. Pitcairn Co. now owns 6,036 shares of the company’s stock valued at $377,000 after buying an additional 386 shares during the period. Aigen Investment Management LP grew its stake in Enovis by 5.1% in the 3rd quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock worth $381,000 after acquiring an additional 430 shares in the last quarter. Finally, Keeley Teton Advisors LLC increased its position in shares of Enovis by 6.8% during the first quarter. Keeley Teton Advisors LLC now owns 6,936 shares of the company’s stock worth $433,000 after acquiring an additional 441 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

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.