Oak Thistle LLC Invests $324,000 in Enovis Co. (NYSE:ENOV)

Oak Thistle LLC acquired a new position in shares of Enovis Co. (NYSE:ENOV) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,385 shares of the company’s stock, valued at approximately $324,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Eagle Investment Management LLC boosted its position in shares of Enovis by 13.3% during the second quarter. First Eagle Investment Management LLC now owns 284,596 shares of the company’s stock worth $12,864,000 after purchasing an additional 33,300 shares in the last quarter. Sei Investments Co. raised its stake in Enovis by 50.9% during the 2nd quarter. Sei Investments Co. now owns 223,358 shares of the company’s stock worth $10,096,000 after buying an additional 75,317 shares during the period. Confluence Investment Management LLC bought a new position in Enovis during the fourth quarter worth about $3,494,000. King Luther Capital Management Corp grew its stake in Enovis by 45.2% in the second quarter. King Luther Capital Management Corp now owns 177,862 shares of the company’s stock valued at $8,039,000 after acquiring an additional 55,385 shares during the period. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Enovis by 25.6% in the third quarter. Chartwell Investment Partners LLC now owns 201,652 shares of the company’s stock worth $8,681,000 after acquiring an additional 41,089 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Enovis Price Performance

NYSE ENOV opened at $46.68 on Friday. The firm’s 50 day moving average is $45.85 and its 200-day moving average is $44.35. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.61 billion, a PE ratio of -21.32 and a beta of 1.94. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03.

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ENOV shares. JMP Securities began coverage on Enovis in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of Enovis in a report on Thursday, November 7th. Finally, Evercore ISI dropped their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $67.00.

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.