Geode Capital Management LLC Has $39.68 Million Stock Holdings in Enovis Co. (NYSE:ENOV)

Geode Capital Management LLC raised its stake in Enovis Co. (NYSE:ENOV) by 9.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,437 shares of the company’s stock after buying an additional 80,165 shares during the period. Geode Capital Management LLC owned 1.65% of Enovis worth $39,678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. River Road Asset Management LLC bought a new stake in shares of Enovis in the third quarter worth $51,341,000. American Century Companies Inc. grew its position 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 buying an additional 665,208 shares during the last quarter. Magnetar Financial LLC increased its stake in shares of Enovis by 66.7% in the second quarter. Magnetar Financial LLC now owns 1,104,803 shares of the company’s stock valued at $49,937,000 after buying an additional 442,051 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Enovis by 14.5% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,786,034 shares of the company’s stock worth $125,929,000 after acquiring an additional 352,116 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Enovis by 16.8% in the third quarter. Royce & Associates LP now owns 2,403,685 shares of the company’s stock worth $103,479,000 after acquiring an additional 346,317 shares during the period. Institutional investors own 98.45% of the company’s stock.

Enovis Trading Up 1.7 %

NYSE:ENOV opened at $43.95 on Wednesday. The firm has a fifty day simple moving average of $44.80 and a two-hundred day simple moving average of $44.38. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of -20.07 and a beta of 1.94. 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 posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $504.44 million. During the same period in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. Analysts expect that Enovis Co. will post 2.79 EPS for the current fiscal year.

Analyst Ratings Changes

ENOV has been the subject of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $65.00 target price on shares of Enovis in a research report on Thursday, November 7th. Evercore ISI lowered their target price on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Finally, JMP Securities started coverage on shares of Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.