JPMorgan Chase & Co. Has $8.20 Million Stake in Enovis Co. (NYSE:ENOV)

JPMorgan Chase & Co. trimmed its position in shares of Enovis Co. (NYSE:ENOV) by 36.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,523 shares of the company’s stock after selling 109,667 shares during the quarter. JPMorgan Chase & Co. owned 0.34% of Enovis worth $8,202,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Retirement Systems of Alabama raised its position in Enovis by 10.1% in the 3rd quarter. Retirement Systems of Alabama now owns 67,846 shares of the company’s stock valued at $2,921,000 after buying an additional 6,239 shares during the last quarter. Geode Capital Management LLC raised its position in Enovis by 9.5% in the 3rd quarter. Geode Capital Management LLC now owns 921,437 shares of the company’s stock valued at $39,678,000 after buying an additional 80,165 shares during the last quarter. Barclays PLC raised its position in Enovis by 16.1% in the 3rd quarter. Barclays PLC now owns 368,488 shares of the company’s stock valued at $15,864,000 after buying an additional 51,151 shares during the last quarter. MML Investors Services LLC raised its position in Enovis by 17.2% in the 3rd quarter. MML Investors Services LLC now owns 44,179 shares of the company’s stock valued at $1,902,000 after buying an additional 6,476 shares during the last quarter. Finally, First National Bank of Omaha raised its position in Enovis by 3.0% in the 3rd quarter. First National Bank of Omaha now owns 53,866 shares of the company’s stock valued at $2,319,000 after buying an additional 1,575 shares during the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Stock Up 1.6 %

ENOV stock opened at $45.49 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of -20.77 and a beta of 1.94. Enovis Co. has a fifty-two week low of $38.27 and a fifty-two week high of $65.03. The stock has a fifty day moving average of $45.83 and a 200-day moving average of $44.32.

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 the consensus estimate of $0.62 by $0.11. The company 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 firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.56 EPS. As a group, equities research analysts predict that Enovis Co. will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ENOV. Needham & Company LLC restated a “buy” rating and issued a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. 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 for the company. Finally, Evercore ISI reduced their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Enovis presently has an average rating of “Moderate Buy” and a consensus price target 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.