US Bancorp DE Buys 4,050 Shares of Enovis Co. (NYSE:ENOV)

US Bancorp DE lifted its stake in shares of Enovis Co. (NYSE:ENOV) by 29.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,962 shares of the company’s stock after purchasing an additional 4,050 shares during the period. US Bancorp DE’s holdings in Enovis were worth $773,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Janney Montgomery Scott LLC lifted its stake in shares of Enovis by 18.6% during the first quarter. Janney Montgomery Scott LLC now owns 4,879 shares of the company’s stock valued at $305,000 after acquiring an additional 765 shares during the period. Texas Permanent School Fund Corp lifted its position in Enovis by 2.2% during the 1st quarter. Texas Permanent School Fund Corp now owns 43,480 shares of the company’s stock valued at $2,715,000 after purchasing an additional 932 shares during the period. Duality Advisers LP boosted its stake in shares of Enovis by 76.5% in the 1st quarter. Duality Advisers LP now owns 9,336 shares of the company’s stock valued at $583,000 after purchasing an additional 4,045 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of Enovis by 21.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 6,272 shares of the company’s stock worth $392,000 after buying an additional 1,087 shares during the period. Finally, Swiss National Bank raised its stake in shares of Enovis by 0.3% during the first quarter. Swiss National Bank now owns 97,000 shares of the company’s stock worth $6,058,000 after buying an additional 300 shares during the last quarter. 98.45% of the stock is owned by institutional investors.

Enovis Stock Performance

Shares of Enovis stock opened at $46.42 on Friday. The stock’s fifty day simple moving average is $42.23 and its 200 day simple moving average is $45.51. The company has a current ratio of 2.27, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.59 billion, a PE ratio of -21.20 and a beta of 1.91. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03.

Enovis (NYSE:ENOV) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.11. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. During the same quarter in the previous year, the business posted $0.56 EPS. Enovis’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, research analysts predict that Enovis Co. will post 2.78 EPS for the current year.

Wall Street Analyst Weigh In

ENOV has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. JMP Securities initiated coverage on Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price objective on shares of Enovis in a research note on Thursday. Finally, Evercore ISI cut their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Enovis has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

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.