Assenagon Asset Management S.A. Sells 9,613 Shares of Enovis Co. (NYSE:ENOV)

Assenagon Asset Management S.A. reduced its position in Enovis Co. (NYSE:ENOV) by 45.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,500 shares of the company’s stock after selling 9,613 shares during the period. Assenagon Asset Management S.A.’s holdings in Enovis were worth $520,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ENOV. Envestnet Portfolio Solutions Inc. boosted its position in shares of Enovis by 44.0% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 9,033 shares of the company’s stock valued at $408,000 after acquiring an additional 2,761 shares during the last quarter. Dynamic Advisor Solutions LLC grew its stake in shares of Enovis by 21.4% in the 2nd quarter. Dynamic Advisor Solutions LLC now owns 14,637 shares of the company’s stock worth $662,000 after buying an additional 2,583 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Enovis by 93.8% in the 2nd quarter. SG Americas Securities LLC now owns 20,634 shares of the company’s stock worth $933,000 after buying an additional 9,985 shares during the last quarter. First Hawaiian Bank raised its position in shares of Enovis by 18.8% during the 2nd quarter. First Hawaiian Bank now owns 10,411 shares of the company’s stock valued at $471,000 after buying an additional 1,649 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Enovis in the 1st quarter valued at about $122,000. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Enovis Stock Performance

ENOV stock opened at $46.01 on Friday. The firm has a market cap of $2.52 billion, a price-to-earnings ratio of -30.67 and a beta of 1.92. Enovis Co. has a twelve month low of $39.98 and a twelve month high of $65.03. The company has a quick ratio of 1.03, a current ratio of 2.10 and a debt-to-equity ratio of 0.40. The business’s fifty day simple moving average is $44.95 and its two-hundred day simple moving average is $52.31.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. The company had revenue of $525.20 million for the quarter, compared to the consensus estimate of $525.99 million. Enovis had a negative net margin of 4.51% and a positive return on equity of 3.98%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.61 EPS. Analysts predict that Enovis Co. will post 2.61 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on ENOV. JPMorgan Chase & Co. decreased their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Needham & Company LLC decreased their price target on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Evercore ISI dropped their price objective on shares of Enovis from $70.00 to $62.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.