Adage Capital Partners GP L.L.C. Buys Shares of 250,000 Enovis Co. (NYSE:ENOV)

Adage Capital Partners GP L.L.C. acquired a new stake in shares of Enovis Co. (NYSE:ENOV - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 250,000 shares of the company's stock, valued at approximately $10,970,000. Adage Capital Partners GP L.L.C. owned 0.44% of Enovis at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the business. Aster Capital Management DIFC Ltd acquired a new position in shares of Enovis in the 4th quarter valued at $29,000. Quadrant Capital Group LLC boosted its stake in shares of Enovis by 53.0% during the 4th quarter. Quadrant Capital Group LLC now owns 690 shares of the company's stock worth $30,000 after acquiring an additional 239 shares in the last quarter. UMB Bank n.a. grew its position in shares of Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company's stock valued at $34,000 after acquiring an additional 437 shares during the period. Pinnacle Bancorp Inc. increased its stake in shares of Enovis by 54.5% in the 4th quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Enovis by 56.2% in the 4th quarter. Sterling Capital Management LLC now owns 3,259 shares of the company's stock worth $143,000 after purchasing an additional 1,173 shares during the period. Hedge funds and other institutional investors own 98.45% of the company's stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reaffirmed a "buy" rating and set a $64.00 target price on shares of Enovis in a research note on Wednesday, April 9th.

Enovis Price Performance

NYSE:ENOV traded down $0.03 during trading hours on Thursday, hitting $34.56. 1,155,729 shares of the stock were exchanged, compared to its average volume of 757,753. The company has a current ratio of 2.27, a quick ratio of 1.12 and a debt-to-equity ratio of 0.40. Enovis Co. has a 52-week low of $29.32 and a 52-week high of $56.43. The company has a market cap of $1.97 billion, a P/E ratio of -15.78 and a beta of 1.86. The firm's fifty day moving average price is $35.79 and its 200 day moving average price is $41.82.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.06. The business had revenue of $560.98 million during the quarter, compared to analyst estimates of $555.14 million. Enovis had a negative net margin of 5.95% and a positive return on equity of 4.39%. As a group, equities research analysts anticipate that Enovis Co. will post 2.79 EPS for the current fiscal year.

Enovis Company 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.