First Eagle Investment Management LLC Boosts Stock Position in Enovis Co. (NYSE:ENOV)

First Eagle Investment Management LLC grew its holdings in shares of Enovis Co. (NYSE:ENOV) by 13.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 284,596 shares of the company’s stock after buying an additional 33,300 shares during the period. First Eagle Investment Management LLC owned 0.52% of Enovis worth $12,864,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Fidelis Capital Partners LLC acquired a new stake in Enovis during the 1st quarter worth $34,000. Principal Securities Inc. purchased a new stake in shares of Enovis in the 4th quarter valued at about $41,000. Ridgewood Investments LLC purchased a new stake in shares of Enovis in the 2nd quarter valued at about $44,000. Innealta Capital LLC acquired a new position in Enovis during the second quarter worth approximately $65,000. Finally, 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 buying an additional 180 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Price Performance

Shares of ENOV opened at $45.02 on Friday. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average is $44.78 and its two-hundred day moving average is $50.18. Enovis Co. has a twelve month low of $39.98 and a twelve month high of $65.03. The firm has a market capitalization of $2.47 billion, a PE ratio of -30.01 and a beta of 1.92.

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

Analyst Upgrades and Downgrades

ENOV has been the topic of a number of research reports. Needham & Company LLC lowered their target price on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Evercore ISI dropped their price objective on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. dropped their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.13.

About Enovis

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.