Front Street Capital Management Inc. Buys 3,293 Shares of Enovis Co. (NYSE:ENOV)

Front Street Capital Management Inc. lifted its holdings in shares of Enovis Co. (NYSE:ENOV) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 210,545 shares of the company’s stock after purchasing an additional 3,293 shares during the quarter. Enovis accounts for about 1.8% of Front Street Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Front Street Capital Management Inc. owned about 0.38% of Enovis worth $9,517,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ENOV. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Enovis during the fourth quarter worth about $296,000. Brown Advisory Inc. acquired a new stake in shares of Enovis during the fourth quarter worth about $428,000. UBS Group AG raised its position in shares of Enovis by 1,060.8% during the fourth quarter. UBS Group AG now owns 333,510 shares of the company’s stock worth $18,683,000 after purchasing an additional 304,779 shares during the period. Wells Fargo & Company MN raised its position in Enovis by 907.7% in the 4th quarter. Wells Fargo & Company MN now owns 559,430 shares of the company’s stock valued at $31,339,000 after buying an additional 503,913 shares during the last quarter. Finally, US Bancorp DE raised its position in Enovis by 5.2% in the 4th quarter. US Bancorp DE now owns 12,596 shares of the company’s stock valued at $706,000 after buying an additional 627 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Price Performance

ENOV stock opened at $43.55 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. Enovis Co. has a 12 month low of $39.98 and a 12 month high of $65.03. The firm has a market cap of $2.39 billion, a P/E ratio of -29.03 and a beta of 1.92. The company’s 50-day moving average price is $44.71 and its two-hundred day moving average price is $49.74.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Evercore ISI reduced their target price on Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Needham & Company LLC reduced their target price on Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Enovis presently has a consensus rating of “Moderate Buy” and an average target price 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.