Enovis Co. (NYSE:ENOV) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Enovis Co. (NYSE:ENOV) by 79.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 130,179 shares of the company’s stock after selling 492,199 shares during the quarter. Principal Financial Group Inc. owned about 0.23% of Enovis worth $5,604,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in Enovis in the second quarter valued at approximately $44,000. DekaBank Deutsche Girozentrale purchased a new stake in Enovis in the third quarter valued at $55,000. Innealta Capital LLC acquired a new position in shares of Enovis in the 2nd quarter valued at $65,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Enovis by 28.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after purchasing an additional 371 shares during the period. Finally, Cetera Advisors LLC acquired a new stake in Enovis in the 1st quarter valued at approximately $239,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Down 1.1 %

Enovis stock opened at $44.78 on Thursday. The stock has a 50 day moving average of $42.54 and a two-hundred day moving average of $45.04. Enovis Co. has a twelve month low of $38.27 and a twelve month high of $65.03. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of -20.45 and a beta of 1.91. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. The firm had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period last year, the company earned $0.56 earnings per share. As a group, research analysts expect that Enovis Co. will post 2.79 earnings per share for the current year.

Analysts Set New Price Targets

ENOV has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and set a $65.00 price target on shares of Enovis in a research note on Thursday, November 7th. JMP Securities initiated coverage on Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective on the stock. Evercore ISI lowered their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. cut their price target on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.00.

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.