Envestnet Asset Management Inc. Grows Holdings in Enovis Corporation $ENOV

Envestnet Asset Management Inc. boosted its position in Enovis Corporation (NYSE:ENOV) by 26.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 427,183 shares of the company’s stock after buying an additional 90,472 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Enovis were worth $13,396,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ENOV. State of New Jersey Common Pension Fund D increased its position in shares of Enovis by 30.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 58,185 shares of the company’s stock worth $1,825,000 after acquiring an additional 13,744 shares during the last quarter. Bernzott Capital Advisors boosted its holdings in Enovis by 45.5% in the second quarter. Bernzott Capital Advisors now owns 230,128 shares of the company’s stock valued at $7,217,000 after purchasing an additional 71,953 shares during the last quarter. Stephens Inc. AR grew its stake in Enovis by 2.9% during the 2nd quarter. Stephens Inc. AR now owns 91,864 shares of the company’s stock valued at $2,881,000 after purchasing an additional 2,612 shares in the last quarter. MGO One Seven LLC increased its holdings in Enovis by 39.7% during the 2nd quarter. MGO One Seven LLC now owns 7,586 shares of the company’s stock worth $238,000 after purchasing an additional 2,157 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Enovis by 191.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 810,771 shares of the company’s stock valued at $26,772,000 after purchasing an additional 532,648 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.

Enovis Stock Down 1.4%

Shares of NYSE:ENOV opened at $28.02 on Friday. The company’s fifty day moving average is $31.33 and its two-hundred day moving average is $31.48. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. Enovis Corporation has a 1-year low of $25.47 and a 1-year high of $49.75. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -1.97 and a beta of 1.67.

Enovis (NYSE:ENOV) last announced its quarterly earnings data on Monday, January 8th. The company reported $0.59 earnings per share for the quarter. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The business had revenue of $383.81 million during the quarter. Equities analysts anticipate that Enovis Corporation will post 2.79 EPS for the current year.

Analysts Set New Price Targets

ENOV has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Enovis in a research note on Wednesday, October 8th. Canaccord Genuity Group reduced their price objective on shares of Enovis from $70.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, August 8th. Needham & Company LLC decreased their price objective on shares of Enovis from $57.00 to $49.00 and set a “buy” rating for the company in a report on Thursday, August 7th. UBS Group dropped their target price on shares of Enovis from $65.00 to $57.00 and set a “buy” rating for the company in a research report on Friday, August 8th. Finally, Wells Fargo & Company increased their price target on shares of Enovis from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday. Six analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $51.17.

Insiders Place Their Bets

In related news, CEO Damien Mcdonald bought 6,457 shares of the company’s stock in a transaction on Thursday, September 11th. The shares were purchased at an average cost of $30.97 per share, with a total value of $199,973.29. Following the completion of the transaction, the chief executive officer directly owned 102,753 shares of the company’s stock, valued at approximately $3,182,260.41. This represents a 6.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bradley J. Tandy purchased 3,200 shares of Enovis stock in a transaction dated Friday, August 22nd. The shares were purchased at an average cost of $31.41 per share, with a total value of $100,512.00. Following the acquisition, the senior vice president owned 43,515 shares of the company’s stock, valued at approximately $1,366,806.15. This trade represents a 7.94% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 12,157 shares of company stock valued at $374,760 over the last three months. Company insiders own 2.70% of the company’s stock.

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.