Enovis Co. (NYSE:ENOV) Holdings Cut by Xponance Inc.

Xponance Inc. reduced its stake in shares of Enovis Co. (NYSE:ENOV) by 8.9% during the 2nd quarter, HoldingsChannel reports. The fund owned 5,462 shares of the company’s stock after selling 534 shares during the period. Xponance Inc.’s holdings in Enovis were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in Enovis in the first quarter worth approximately $34,000. Ridgewood Investments LLC acquired a new position in shares of Enovis during the 2nd quarter worth $44,000. Innealta Capital LLC bought a new position in shares of Enovis during the 2nd quarter valued at $65,000. GAMMA Investing LLC lifted its stake in shares of Enovis by 19.9% in the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the company’s stock valued at $68,000 after purchasing an additional 180 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted 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 in the last quarter. 98.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ENOV has been the topic of several recent research reports. Needham & Company LLC cut their target price on Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Evercore ISI cut their price objective on Enovis from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Enovis from $53.00 to $50.00 and set a “neutral” 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’s stock. According to data from MarketBeat, Enovis presently has an average rating of “Moderate Buy” and an average price target of $68.63.

Enovis Stock Performance

ENOV opened at $40.84 on Thursday. 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 stock’s 50 day moving average price is $44.27 and its two-hundred day moving average price is $48.98. The firm has a market capitalization of $2.24 billion, a P/E ratio of -27.23 and a beta of 1.92. Enovis Co. has a 12-month low of $39.98 and a 12-month high of $65.03.

Enovis (NYSE:ENOV) last announced its quarterly earnings data 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 business 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%. Enovis’s quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter last year, the company posted $0.61 earnings per share. On average, equities analysts forecast that Enovis Co. will post 2.7 earnings per share for the current year.

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.