Wedge Capital Management L L P NC Trims Stake in Enovis Co. (NYSE:ENOV)

Wedge Capital Management L L P NC decreased its position in shares of Enovis Co. (NYSE:ENOV) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 152,508 shares of the company’s stock after selling 540 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Enovis were worth $6,565,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Scout Investments Inc. purchased a new stake in Enovis during the first quarter worth $6,116,000. Price T Rowe Associates Inc. MD boosted its position 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 purchasing an additional 179,276 shares in the last quarter. Tributary Capital Management LLC grew its stake in Enovis by 15.6% in the first quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock valued at $21,131,000 after purchasing an additional 45,745 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Enovis by 100.6% in the first quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock worth $23,606,000 after purchasing an additional 189,584 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Enovis by 5.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 534,179 shares of the company’s stock worth $29,925,000 after purchasing an additional 29,229 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Down 0.3 %

ENOV stock opened at $40.09 on Tuesday. Enovis Co. has a 52 week low of $38.27 and a 52 week high of $65.03. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $43.10 and a 200-day simple moving average of $47.82. The stock has a market capitalization of $2.20 billion, a P/E ratio of -26.73 and a beta of 1.91.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on ENOV shares. JMP Securities assumed coverage on shares of Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price 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. Needham & Company LLC cut their price target on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Evercore ISI decreased their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.89.

Enovis 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.