Enovis Co. (NYSE:ENOV) Shares Acquired by Magnetar Financial LLC

Magnetar Financial LLC lifted its holdings in Enovis Co. (NYSE:ENOV) by 66.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,104,803 shares of the company’s stock after buying an additional 442,051 shares during the quarter. Magnetar Financial LLC owned 2.01% of Enovis worth $49,937,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Scout Investments Inc. acquired a new position in shares of Enovis during the 1st quarter worth $6,116,000. Price T Rowe Associates Inc. MD lifted its position in shares of Enovis by 88.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock valued at $23,802,000 after acquiring an additional 179,276 shares during the period. UBS Group AG grew its holdings in shares of Enovis by 1,060.8% in the 4th quarter. UBS Group AG now owns 333,510 shares of the company’s stock worth $18,683,000 after acquiring an additional 304,779 shares during the period. Tributary Capital Management LLC boosted its position in Enovis by 15.6% during the first quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock worth $21,131,000 after purchasing an additional 45,745 shares in the last quarter. Finally, Quadrature Capital Ltd raised its stake in shares of Enovis by 175.5% during the 4th quarter. Quadrature Capital Ltd now owns 34,160 shares of the company’s stock worth $1,913,000 after buying an additional 21,760 shares during the last quarter. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Performance

Enovis stock opened at $43.67 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 2.26. Enovis Co. has a one year low of $39.98 and a one year high of $65.03. The stock’s 50 day moving average price is $44.73 and its 200 day moving average price is $49.87. The firm has a market capitalization of $2.40 billion, a PE ratio of -29.11 and a beta of 1.92.

Enovis (NYSE:ENOV) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $525.99 million. During the same period last year, the business earned $0.61 EPS. The business’s revenue was up 22.6% on a year-over-year basis. As a group, sell-side analysts expect that Enovis Co. will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

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

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.