Cubist Systematic Strategies LLC Takes $962,000 Position in Enovis Co. (NYSE:ENOV)

Cubist Systematic Strategies LLC purchased a new position in shares of Enovis Co. (NYSE:ENOV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 21,922 shares of the company's stock, valued at approximately $962,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. Aster Capital Management DIFC Ltd acquired a new stake in shares of Enovis in the fourth quarter valued at $29,000. Quadrant Capital Group LLC lifted its holdings in shares of 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 buying an additional 239 shares during the period. UMB Bank n.a. lifted 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 valued at $34,000 after buying an additional 437 shares during the period. Pinnacle Bancorp Inc. lifted its holdings in shares of Enovis by 54.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 850 shares of the company's stock valued at $37,000 after buying an additional 300 shares during the period. Finally, Quarry LP lifted its holdings in shares of Enovis by 506.1% during the fourth quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after purchasing an additional 749 shares during the last quarter. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Stock Down 0.7%

Enovis stock traded down $0.25 during mid-day trading on Tuesday, hitting $35.23. The company's stock had a trading volume of 55,542 shares, compared to its average volume of 776,739. The firm's 50 day moving average is $35.13 and its 200 day moving average is $41.37. The company has a market cap of $2.01 billion, a PE ratio of -16.10 and a beta of 1.79. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.27 and a quick ratio of 1.12. Enovis Co. has a 52-week low of $29.32 and a 52-week high of $52.76.

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

Wall Street Analysts Forecast Growth

ENOV has been the subject of several analyst reports. Canaccord Genuity Group reduced their target price on Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. JMP Securities reduced their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a report on Friday, May 9th. Finally, Needham & Company LLC reduced their target price on Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a report on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

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.