King Luther Capital Management Corp Grows Position in Enovis Co. (NYSE:ENOV)

King Luther Capital Management Corp boosted its stake in shares of Enovis Co. (NYSE:ENOV) by 45.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 177,862 shares of the company’s stock after purchasing an additional 55,385 shares during the period. King Luther Capital Management Corp owned approximately 0.32% of Enovis worth $8,039,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ENOV. Diamond Hill Capital Management Inc. raised its position in shares of Enovis by 14.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after buying an additional 352,116 shares during the period. DAVENPORT & Co LLC lifted its stake in shares of Enovis by 5.5% in the 1st quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock valued at $123,804,000 after purchasing an additional 103,027 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Enovis by 78.6% in the 2nd quarter. American Century Companies Inc. now owns 1,511,871 shares of the company’s stock valued at $68,337,000 after purchasing an additional 665,208 shares in the last quarter. Principal Financial Group Inc. increased its position in Enovis by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 849,023 shares of the company’s stock worth $53,022,000 after purchasing an additional 20,720 shares in the last quarter. Finally, Magnetar Financial LLC raised its holdings in Enovis by 10.9% in the first quarter. Magnetar Financial LLC now owns 662,752 shares of the company’s stock valued at $41,389,000 after buying an additional 65,319 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Analysts Set New Price Targets

ENOV has been the subject of several research reports. Needham & Company LLC decreased their price objective on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. JPMorgan Chase & Co. lowered their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Evercore ISI reduced their price objective on Enovis from $70.00 to $62.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.13.

Enovis Stock Performance

NYSE:ENOV opened at $43.65 on Friday. The firm has a 50-day moving average of $44.73 and a two-hundred day moving average of $50.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. The stock has a market cap of $2.39 billion, a P/E ratio of -29.10 and a beta of 1.92. Enovis Co. has a 1-year low of $39.98 and a 1-year high of $65.03.

Enovis (NYSE:ENOV) last issued its quarterly earnings data 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. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The firm had revenue of $525.20 million during the quarter, compared to analyst estimates of $525.99 million. During the same quarter last year, the firm earned $0.61 EPS. Enovis’s quarterly revenue was up 22.6% on a year-over-year basis. On average, research analysts expect that Enovis Co. will post 2.7 earnings per share for the current fiscal 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.