Southeastern Asset Management Inc. TN Purchases 13,797 Shares of Enovis Co. (NYSE:ENOV)

Southeastern Asset Management Inc. TN raised its holdings in shares of Enovis Co. (NYSE:ENOV - Free Report) by 60.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,583 shares of the company's stock after purchasing an additional 13,797 shares during the quarter. Southeastern Asset Management Inc. TN owned approximately 0.06% of Enovis worth $1,605,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ENOV. Hood River Capital Management LLC acquired a new stake in shares of Enovis during the 4th quarter worth $29,024,000. Raymond James Financial Inc. bought a new stake in Enovis during the fourth quarter worth about $16,407,000. ExodusPoint Capital Management LP lifted its position in Enovis by 919.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock worth $14,625,000 after purchasing an additional 300,605 shares during the period. Adage Capital Partners GP L.L.C. acquired a new stake in Enovis during the fourth quarter worth about $10,970,000. Finally, Boston Partners increased its holdings in Enovis by 27.1% in the 4th quarter. Boston Partners now owns 1,048,532 shares of the company's stock valued at $46,034,000 after buying an additional 223,816 shares during the period. 98.45% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ENOV. Canaccord Genuity Group cut their price target on shares of Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Needham & Company LLC lowered their price objective on shares of Enovis from $64.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Finally, JMP Securities reduced their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $58.00.

Enovis Trading Down 4.8%

Shares of ENOV stock traded down $1.66 during mid-day trading on Wednesday, reaching $32.82. 307,330 shares of the stock traded hands, compared to its average volume of 778,698. The stock's fifty day simple moving average is $35.10 and its two-hundred day simple moving average is $41.32. Enovis Co. has a 1-year low of $29.32 and a 1-year high of $51.31. The company has a quick ratio of 1.12, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -15.01 and a beta of 1.79.

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

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.