Pitcairn Co. Has $344,000 Holdings in Enovis Co. (NYSE:ENOV)

Pitcairn Co. decreased its stake in shares of Enovis Co. (NYSE:ENOV) by 20.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,983 shares of the company’s stock after selling 2,041 shares during the period. Pitcairn Co.’s holdings in Enovis were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ENOV. Price T Rowe Associates Inc. MD increased its holdings in 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 purchasing an additional 179,276 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Enovis by 100.6% during the 1st quarter. Janus Henderson Group PLC now owns 378,020 shares of the company’s stock worth $23,606,000 after purchasing an additional 189,584 shares in the last quarter. Cetera Advisors LLC bought a new stake in Enovis in the 1st quarter worth about $239,000. Boston Partners grew its stake in Enovis by 206.5% in the 1st quarter. Boston Partners now owns 295,969 shares of the company’s stock valued at $18,455,000 after purchasing an additional 199,411 shares during the period. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Enovis during the first quarter worth about $122,000. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Enovis Price Performance

Shares of Enovis stock opened at $47.74 on Wednesday. The company’s fifty day simple moving average is $42.81 and its two-hundred day simple moving average is $44.90. Enovis Co. has a 12-month low of $38.27 and a 12-month high of $65.03. The firm has a market cap of $2.67 billion, a PE ratio of -22.04 and a beta of 1.91. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40.

Enovis (NYSE:ENOV) last posted its earnings results on Wednesday, November 6th. The company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.11. The company had revenue of $505.22 million for the quarter, compared to analysts’ expectations of $504.44 million. Enovis had a positive return on equity of 4.39% and a negative net margin of 5.95%. Enovis’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. As a group, equities analysts expect that Enovis Co. will post 2.79 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ENOV. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Enovis in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced 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. Evercore ISI decreased their price target 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. Finally, JMP Securities initiated coverage on Enovis in a report on Thursday, October 3rd. They set an “outperform” rating and a $62.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.