Enovis Co. (NYSE:ENOV) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama raised its position in Enovis Co. (NYSE:ENOV) by 10.1% during the third quarter, HoldingsChannel reports. The firm owned 67,846 shares of the company’s stock after purchasing an additional 6,239 shares during the period. Retirement Systems of Alabama’s holdings in Enovis were worth $2,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Ridgewood Investments LLC purchased a new stake in shares of Enovis in the second quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale purchased a new stake in Enovis in the 3rd quarter valued at $55,000. Innealta Capital LLC acquired a new stake in shares of Enovis in the 2nd quarter worth $65,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Enovis by 28.1% in the 2nd 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, FMR LLC raised its holdings in shares of Enovis by 20.5% during the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after acquiring an additional 484 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Enovis Price Performance

Enovis stock opened at $43.12 on Friday. The company’s 50 day simple moving average is $44.74 and its 200-day simple moving average is $44.46. 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 Co. has a 1 year low of $38.27 and a 1 year high of $65.03. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of -19.69 and a beta of 1.94.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $504.44 million. During the same period in the prior year, the firm earned $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 expect that Enovis Co. will post 2.79 earnings per share for the current 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.