Rhumbline Advisers Decreases Stock Holdings in Enovis Co. (NYSE:ENOV)

Rhumbline Advisers lessened its holdings in Enovis Co. (NYSE:ENOV) by 1.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 140,281 shares of the company’s stock after selling 1,891 shares during the period. Rhumbline Advisers owned about 0.26% of Enovis worth $6,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DAVENPORT & Co LLC boosted its stake in Enovis by 5.5% during the 1st quarter. DAVENPORT & Co LLC now owns 1,982,452 shares of the company’s stock valued at $123,804,000 after acquiring an additional 103,027 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Enovis by 2.5% in the first quarter. Principal Financial Group Inc. now owns 849,023 shares of the company’s stock worth $53,022,000 after acquiring an additional 20,720 shares during the last quarter. Magnetar Financial LLC boosted its stake in Enovis by 10.9% in the first quarter. Magnetar Financial LLC now owns 662,752 shares of the company’s stock valued at $41,389,000 after acquiring an additional 65,319 shares during the period. Artemis Investment Management LLP raised its position in shares of Enovis by 17.6% during the 1st quarter. Artemis Investment Management LLP now owns 588,491 shares of the company’s stock worth $36,737,000 after purchasing an additional 87,999 shares during the period. Finally, Boone Capital Management LLC grew its stake in Enovis by 11.9% during the 4th quarter. Boone Capital Management LLC now owns 562,739 shares of the company’s stock worth $31,525,000 after buying an additional 60,008 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Up 0.2 %

Shares of ENOV opened at $43.34 on Friday. The business’s 50 day simple moving average is $44.86 and its 200-day simple moving average is $50.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.26 and a quick ratio of 1.08. Enovis Co. has a one year low of $39.98 and a one year high of $65.03. The company has a market capitalization of $2.42 billion, a P/E ratio of -28.89 and a beta of 1.92.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Enovis had a negative net margin of 4.73% and a positive return on equity of 4.06%. The business had revenue of $525.20 million for the quarter, compared to analysts’ expectations of $525.99 million. During the same period in the prior year, the firm earned $0.61 earnings per share. Enovis’s revenue was up 22.6% compared to the same quarter last year. As a group, sell-side analysts predict that Enovis Co. will post 2.7 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ENOV shares. Needham & Company LLC dropped their target price on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their price objective on Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, JPMorgan Chase & Co. cut their target price on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.13.

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.