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

Principal Financial Group Inc. decreased its position in shares of Enovis Co. (NYSE:ENOV) by 79.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ENOV. Benjamin F. Edwards & Company Inc. boosted its holdings in Enovis by 28.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after buying an additional 371 shares in the last quarter. Aigen Investment Management LP increased its holdings in shares of Enovis by 5.1% in the 3rd quarter. Aigen Investment Management LP now owns 8,859 shares of the company’s stock valued at $381,000 after purchasing an additional 430 shares during the period. FMR LLC lifted its position in Enovis by 20.5% in the 3rd quarter. FMR LLC now owns 2,840 shares of the company’s stock worth $122,000 after buying an additional 484 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in shares of Enovis by 20.8% during the third quarter. State of Alaska Department of Revenue now owns 6,482 shares of the company’s stock worth $279,000 after acquiring an additional 1,115 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new stake in shares of Enovis during the 3rd quarter worth about $55,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Stock Performance

ENOV opened at $43.88 on Thursday. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $45.30 and its two-hundred day moving average price is $44.33. The firm has a market capitalization of $2.45 billion, a P/E ratio of -20.04 and a beta of 1.94. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03.

Enovis (NYSE:ENOV) last announced its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.11. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $505.22 million for the quarter, compared to analyst estimates of $504.44 million. During the same quarter in the previous year, the firm posted $0.56 earnings per share. Enovis’s revenue was up 21.0% compared to the same quarter last year. On average, equities analysts forecast that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ENOV. Evercore ISI reduced their price objective 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. JMP Securities began 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. Finally, Needham & Company LLC restated a “buy” rating and issued a $65.00 target price on shares of Enovis in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target 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.