Northern Trust Corp Increases Stock Position in Enovis Co. (NYSE:ENOV)

Northern Trust Corp boosted its holdings in Enovis Co. (NYSE:ENOV - Free Report) by 15.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 547,686 shares of the company's stock after buying an additional 74,836 shares during the quarter. Northern Trust Corp owned approximately 0.96% of Enovis worth $24,032,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Hood River Capital Management LLC purchased a new position in shares of Enovis in the 4th quarter valued at about $29,024,000. Raymond James Financial Inc. purchased a new position in Enovis in the fourth quarter valued at approximately $16,407,000. ExodusPoint Capital Management LP raised its holdings 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 in the last quarter. Adage Capital Partners GP L.L.C. purchased a new stake in shares of Enovis during the 4th quarter worth approximately $10,970,000. Finally, Boston Partners grew its position in shares of 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 last quarter. 98.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Enovis Stock Performance

Shares of NYSE ENOV traded up $0.37 during midday trading on Friday, reaching $36.10. 539,929 shares of the company were exchanged, compared to its average volume of 777,333. The stock has a market cap of $2.06 billion, a P/E ratio of -16.49 and a beta of 1.79. Enovis Co. has a 1 year low of $29.32 and a 1 year high of $53.31. The stock has a fifty day simple moving average of $35.16 and a 200 day simple moving average of $41.45. 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 (NYSE:ENOV - Get Free Report) last released its earnings results 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 positive return on equity of 4.39% and a negative net margin of 5.95%. The business had revenue of $558.83 million for the quarter, compared to analyst estimates of $558.80 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The company's revenue for the quarter was up 8.2% compared to the same quarter last year. On average, research analysts forecast that Enovis Co. will post 2.79 earnings per share for the current fiscal year.

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.