150,119 Shares in Enovis Co. (NYSE:ENOV) Purchased by Invenomic Capital Management LP

Invenomic Capital Management LP acquired a new stake in Enovis Co. (NYSE:ENOV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 150,119 shares of the company's stock, valued at approximately $6,587,000. Invenomic Capital Management LP owned about 0.26% of Enovis at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new stake in shares of Enovis in the 4th quarter valued at $29,000. Quadrant Capital Group LLC grew its stake in Enovis by 53.0% in the fourth quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock valued at $30,000 after acquiring an additional 239 shares during the period. UMB Bank n.a. increased its holdings in shares of Enovis by 128.2% in the fourth quarter. UMB Bank n.a. now owns 778 shares of the company's stock worth $34,000 after acquiring an additional 437 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Enovis by 54.5% during the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company's stock worth $37,000 after purchasing an additional 300 shares during the period. Finally, Quarry LP raised its position in shares of Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company's stock worth $39,000 after purchasing an additional 749 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Stock Up 1.0%

Enovis stock traded up $0.37 during midday trading on Friday, reaching $36.10. The stock had a trading volume of 539,929 shares, compared to its average volume of 777,333. The stock has a market capitalization of $2.06 billion, a P/E ratio of -16.49 and a beta of 1.79. The firm's fifty day simple moving average is $35.16 and its 200-day simple moving average is $41.45. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27. Enovis Co. has a 1-year low of $29.32 and a 1-year high of $53.31.

Enovis (NYSE:ENOV - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. The company had revenue of $558.83 million for the quarter, compared to the consensus estimate of $558.80 million. During the same period last year, the company earned $0.50 earnings per share. The firm's revenue was up 8.2% compared to the same quarter last year. As a group, analysts expect that Enovis Co. will post 2.79 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JMP Securities decreased their price objective on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Needham & Company LLC reduced their price target on shares of Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Canaccord Genuity Group lowered their price objective on shares of Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Enovis has a consensus rating of "Moderate Buy" and an average price target of $58.00.

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.