Granite Investment Partners LLC Lowers Holdings in Enovis Co. (NYSE:ENOV)

Granite Investment Partners LLC reduced its stake in shares of Enovis Co. (NYSE:ENOV) by 11.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,646 shares of the company’s stock after selling 21,862 shares during the period. Granite Investment Partners LLC owned 0.32% of Enovis worth $8,030,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Fidelis Capital Partners LLC purchased a new position in Enovis during the first quarter worth approximately $34,000. Principal Securities Inc. acquired a new stake in shares of Enovis during the 4th quarter worth $41,000. Ridgewood Investments LLC purchased a new position in shares of Enovis in the 2nd quarter worth $44,000. Innealta Capital LLC acquired a new position in Enovis in the second quarter valued at $65,000. Finally, GAMMA Investing LLC grew its position in Enovis by 19.9% during the first quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after acquiring an additional 180 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Enovis Stock Up 3.2 %

Shares of NYSE:ENOV opened at $45.02 on Friday. The company has a 50 day moving average of $44.78 and a two-hundred day moving average of $50.18. Enovis Co. has a 52-week low of $39.98 and a 52-week high of $65.03. The company has a quick ratio of 1.08, a current ratio of 2.26 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of -30.01 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 (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm 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 4.73% and a positive return on equity of 4.06%. The firm’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 EPS. As a group, analysts forecast that Enovis Co. will post 2.7 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ENOV shares. JPMorgan Chase & Co. cut their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Evercore ISI reduced their price target on shares of 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 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 eight have given a buy rating to the company. According to MarketBeat.com, Enovis has an average rating of “Moderate Buy” and a consensus 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.