Vanguard Group Inc. Increases Position in Enovis Co. (NYSE:ENOV)

Vanguard Group Inc. increased its stake in shares of Enovis Co. (NYSE:ENOV) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,486,130 shares of the company’s stock after buying an additional 75,348 shares during the period. Vanguard Group Inc. owned about 9.65% of Enovis worth $240,731,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. DAVENPORT & Co LLC lifted its holdings in shares of Enovis by 6.0% in the fourth quarter. DAVENPORT & Co LLC now owns 2,782,341 shares of the company’s stock valued at $121,181,000 after purchasing an additional 157,216 shares in the last quarter. Royce & Associates LP grew its holdings in Enovis by 2.8% during the 4th quarter. Royce & Associates LP now owns 2,470,576 shares of the company’s stock valued at $108,409,000 after buying an additional 66,891 shares during the last quarter. State Street Corp increased its position in Enovis by 4.3% during the third quarter. State Street Corp now owns 1,647,220 shares of the company’s stock worth $70,913,000 after buying an additional 68,190 shares in the last quarter. River Road Asset Management LLC raised its holdings in shares of Enovis by 3.8% in the fourth quarter. River Road Asset Management LLC now owns 1,238,357 shares of the company’s stock worth $54,339,000 after acquiring an additional 45,762 shares during the last quarter. Finally, Boston Partners lifted its position in shares of Enovis by 27.1% in the fourth quarter. Boston Partners now owns 1,048,532 shares of the company’s stock valued at $46,034,000 after acquiring an additional 223,816 shares in the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of Enovis in a research note on Wednesday.

Enovis Price Performance

Shares of NYSE:ENOV opened at $32.52 on Friday. The company has a market cap of $1.85 billion, a P/E ratio of -14.85 and a beta of 1.86. The business has a fifty day simple moving average of $40.90 and a 200-day simple moving average of $43.09. Enovis Co. has a 52 week low of $31.00 and a 52 week high of $62.79. 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 (NYSE:ENOV) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.98 EPS 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 company had revenue of $560.98 million during the quarter, compared to the consensus estimate of $555.14 million. Equities research analysts forecast that Enovis Co. will post 2.79 EPS for the current year.

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.