Enovis Co. (NYSE:ENOV) Stock Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its stake in shares of Enovis Co. (NYSE:ENOV) by 2.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,008,634 shares of the company’s stock after selling 23,076 shares during the period. Allspring Global Investments Holdings LLC owned about 1.84% of Enovis worth $62,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tributary Capital Management LLC lifted 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 acquiring an additional 45,745 shares during the last quarter. Artemis Investment Management LLP lifted its stake in Enovis by 17.6% in the first quarter. Artemis Investment Management LLP now owns 588,491 shares of the company’s stock valued at $36,737,000 after acquiring an additional 87,999 shares during the last quarter. GAMMA Investing LLC lifted its stake in Enovis by 19.9% in the first quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after acquiring an additional 180 shares during the last quarter. Nomura Holdings Inc. acquired a new stake in Enovis in the fourth quarter valued at approximately $1,054,000. Finally, Quadrature Capital Ltd lifted its stake in Enovis by 175.5% in the fourth quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock valued at $1,913,000 after acquiring an additional 21,760 shares during the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Evercore ISI reduced their target price on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Enovis in a research note on Thursday, June 13th. They issued a “neutral” rating and a $53.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $82.00 price objective on shares of Enovis in a research note on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.44.

Enovis Price Performance

Shares of Enovis stock opened at $44.69 on Wednesday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -29.79 and a beta of 1.92. Enovis Co. has a 1-year low of $43.04 and a 1-year high of $66.14. The firm has a fifty day simple moving average of $49.16 and a 200-day simple moving average of $55.64. The company has a current ratio of 2.10, a quick ratio of 1.03 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last released its earnings results on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $516.00 million during the quarter, compared to analysts’ expectations of $505.62 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The business’s quarterly revenue was up 27.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, sell-side analysts expect that Enovis Co. will post 2.62 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.