Algert Global LLC Makes New Investment in Enovis Co. (NYSE:ENOV)

Algert Global LLC acquired a new stake in shares of Enovis Co. (NYSE:ENOV) in the second quarter, Holdings Channel.com reports. The firm acquired 5,521 shares of the company’s stock, valued at approximately $250,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Scout Investments Inc. purchased a new stake in Enovis during the first quarter worth $6,116,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Enovis by 88.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 381,118 shares of the company’s stock worth $23,802,000 after acquiring an additional 179,276 shares in the last quarter. Tributary Capital Management LLC grew its position in shares of Enovis by 15.6% during the 1st quarter. Tributary Capital Management LLC now owns 338,371 shares of the company’s stock valued at $21,131,000 after acquiring an additional 45,745 shares during the period. Janus Henderson Group PLC increased its stake in shares of Enovis by 100.6% in the 1st quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock valued at $23,606,000 after purchasing an additional 189,584 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Enovis by 5.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 534,179 shares of the company’s stock worth $29,925,000 after purchasing an additional 29,229 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.

Enovis Stock Down 0.2 %

ENOV stock opened at $38.74 on Thursday. The company has a current ratio of 2.26, a quick ratio of 1.08 and a debt-to-equity ratio of 0.40. The firm has a 50-day moving average of $43.36 and a two-hundred day moving average of $48.22. Enovis Co. has a 12 month low of $38.27 and a 12 month high of $65.03. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -25.83 and a beta of 1.91.

Enovis (NYSE:ENOV) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.59 by $0.03. Enovis had a positive return on equity of 4.06% and a negative net margin of 4.73%. The firm had revenue of $525.20 million during the quarter, compared to analysts’ expectations of $525.99 million. During the same quarter last year, the firm earned $0.61 earnings per share. The business’s revenue for the quarter was up 22.6% on a year-over-year basis. As a group, analysts forecast that Enovis Co. will post 2.7 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently commented on ENOV. JPMorgan Chase & Co. cut their price objective on Enovis from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. JMP Securities assumed coverage on shares of Enovis in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $62.00 price target on the stock. Evercore ISI reduced their price objective on shares of Enovis from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, October 1st. Finally, Needham & Company LLC decreased their price objective on shares of Enovis from $82.00 to $65.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.89.

About Enovis

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.