Park Avenue Securities LLC Acquires 1,333 Shares of Enovis Co. (NYSE:ENOV)

Park Avenue Securities LLC increased its holdings in shares of Enovis Co. (NYSE:ENOV) by 12.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,988 shares of the company’s stock after purchasing an additional 1,333 shares during the period. Park Avenue Securities LLC’s holdings in Enovis were worth $526,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of Enovis during the 3rd quarter worth approximately $55,000. Benjamin F. Edwards & Company Inc. grew its holdings in Enovis by 28.1% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,691 shares of the company’s stock worth $76,000 after purchasing an additional 371 shares during the period. FMR LLC increased its stake in Enovis by 20.5% in the third quarter. FMR LLC now owns 2,840 shares of the company’s stock valued at $122,000 after purchasing an additional 484 shares in the last quarter. Heritage Family Offices LLP bought a new stake in Enovis in the third quarter valued at $206,000. Finally, XTX Topco Ltd acquired a new position in shares of Enovis during the third quarter valued at about $217,000. 98.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ENOV. Evercore ISI reduced their target price on Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, October 1st. Needham & Company LLC reissued a “buy” rating and issued a $65.00 price objective on shares of Enovis in a research note on Thursday, November 7th. Finally, JMP Securities assumed coverage on Enovis in a research report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Enovis has a consensus rating of “Moderate Buy” and an average price target of $65.86.

Enovis Stock Performance

Shares of ENOV opened at $47.25 on Friday. The firm has a market capitalization of $2.64 billion, a P/E ratio of -21.58 and a beta of 1.94. Enovis Co. has a 52 week low of $38.27 and a 52 week high of $65.03. The stock has a 50 day moving average price of $45.87 and a two-hundred day moving average price of $44.41. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27.

Enovis (NYSE:ENOV) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.11. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $505.22 million during the quarter, compared to the consensus estimate of $504.44 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. Enovis’s revenue was up 21.0% compared to the same quarter last year. Equities analysts forecast that Enovis Co. will post 2.79 earnings per share for the current fiscal year.

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.