Truist Financial Corp Grows Position in Enovis Co. (NYSE:ENOV)

Truist Financial Corp lifted its stake in Enovis Co. (NYSE:ENOV) by 1.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,824 shares of the company’s stock after buying an additional 530 shares during the quarter. Truist Financial Corp’s holdings in Enovis were worth $1,221,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D raised its stake in Enovis by 6.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 46,370 shares of the company’s stock valued at $2,035,000 after purchasing an additional 2,966 shares in the last quarter. Principal Securities Inc. raised its stake in Enovis by 21.0% during the fourth quarter. Principal Securities Inc. now owns 5,649 shares of the company’s stock valued at $248,000 after purchasing an additional 982 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new stake in Enovis during the fourth quarter valued at $228,000. Rhumbline Advisers raised its stake in Enovis by 1.3% during the fourth quarter. Rhumbline Advisers now owns 152,628 shares of the company’s stock valued at $6,697,000 after purchasing an additional 1,938 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in Enovis by 3.5% during the fourth quarter. New York State Teachers Retirement System now owns 13,538 shares of the company’s stock valued at $594,000 after purchasing an additional 457 shares in the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Trading Up 1.4 %

ENOV stock opened at $38.67 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. Enovis Co. has a twelve month low of $37.60 and a twelve month high of $63.96. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -17.66 and a beta of 1.94. The firm’s fifty day simple moving average is $44.81 and its two-hundred day simple moving average is $44.29.

Enovis (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.06. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The business had revenue of $560.98 million for the quarter, compared to analysts’ expectations of $555.14 million. As a group, analysts anticipate that Enovis Co. will post 2.79 earnings per share for the current year.

Analyst Ratings Changes

Separately, Needham & Company LLC cut their price objective on shares of Enovis from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday.

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.