The Manufacturers Life Insurance Company Purchases 7,066 Shares of Enovis Co. (NYSE:ENOV)

The Manufacturers Life Insurance Company boosted its holdings in Enovis Co. (NYSE:ENOV) by 12.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,545 shares of the company’s stock after buying an additional 7,066 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.12% of Enovis worth $2,917,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in Enovis in the 1st quarter valued at approximately $34,000. Ridgewood Investments LLC acquired a new stake in Enovis in the second quarter valued at $44,000. Innealta Capital LLC bought a new position in Enovis during the 2nd quarter worth $65,000. GAMMA Investing LLC lifted its holdings in Enovis by 19.9% during the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock worth $68,000 after buying an additional 180 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Enovis by 28.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock valued at $76,000 after buying an additional 371 shares during the last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Enovis Stock Down 2.0 %

Enovis stock opened at $38.83 on Wednesday. The company has a market capitalization of $2.13 billion, a PE ratio of -25.89 and a beta of 1.91. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03. The firm’s fifty day moving average is $43.54 and its 200 day moving average is $48.28. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ENOV shares. JPMorgan Chase & Co. lowered their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. JMP Securities started coverage on shares of Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price target for the company. Evercore ISI reduced their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 1st. Finally, Needham & Company LLC decreased their price objective on shares of Enovis from $82.00 to $65.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.89.

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.