Louisiana State Employees Retirement System Boosts Position in Enovis Co. (NYSE:ENOV)

Louisiana State Employees Retirement System raised its stake in Enovis Co. (NYSE:ENOV) by 9.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,500 shares of the company’s stock after acquiring an additional 1,400 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Enovis were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ENOV. State of Michigan Retirement System raised its holdings in shares of Enovis by 2.5% in the first quarter. State of Michigan Retirement System now owns 12,202 shares of the company’s stock worth $762,000 after acquiring an additional 300 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Enovis by 18.6% in the first quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company’s stock worth $305,000 after acquiring an additional 765 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Enovis in the first quarter worth $34,000. DAVENPORT & Co LLC raised its holdings in shares of Enovis by 5.5% in the first quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock worth $123,804,000 after acquiring an additional 103,027 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its holdings in shares of Enovis by 2.2% in the first quarter. Texas Permanent School Fund Corp now owns 43,480 shares of the company’s stock worth $2,715,000 after acquiring an additional 932 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Stock Performance

Shares of NYSE:ENOV opened at $43.03 on Tuesday. The firm has a market capitalization of $2.40 billion, a PE ratio of -25.92 and a beta of 1.91. 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 business has a 50-day moving average of $42.21 and a two-hundred day moving average of $45.71. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, topping the consensus estimate 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 company had revenue of $525.20 million during the quarter, compared to analyst estimates of $525.99 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm’s revenue was up 22.6% on a year-over-year basis. As a group, research analysts forecast that Enovis Co. will post 2.7 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ENOV shares. JMP Securities started coverage on Enovis in a report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target for the company. Needham & Company LLC dropped 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. Evercore ISI dropped their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

Enovis 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.