First National Advisers LLC Makes New $454,000 Investment in Enovis Corporation (NYSE:ENOV)

Key Points

• First National Advisers LLC acquired 11,889 shares of Enovis Corporation, valued at approximately $454,000, during the first quarter.
• Multiple institutional investors, including Quadrant Capital Group LLC and Farther Finance Advisors LLC, have significantly increased their holdings in Enovis during recent quarters.
• Analysts have downgraded Enovis' price targets, with an average target price of $55.60 and the company maintains a "Moderate Buy" rating.

First National Advisers LLC bought a new stake in Enovis Corporation (NYSE:ENOV - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,889 shares of the company's stock, valued at approximately $454,000.

Other institutional investors have also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in Enovis during the fourth quarter valued at about $29,000. Quadrant Capital Group LLC grew its position in shares of Enovis by 53.0% during the 4th 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. Farther Finance Advisors LLC grew its position in shares of Enovis by 266.7% during the 1st quarter. Farther Finance Advisors LLC now owns 737 shares of the company's stock valued at $27,000 after acquiring an additional 536 shares during the period. Quarry LP grew its position in shares of Enovis by 506.1% during the 4th quarter. Quarry LP now owns 897 shares of the company's stock valued at $39,000 after acquiring an additional 749 shares during the period. Finally, GAMMA Investing LLC grew its holdings in Enovis by 144.8% during the first quarter. GAMMA Investing LLC now owns 1,170 shares of the company's stock valued at $45,000 after purchasing an additional 692 shares during the period. Institutional investors own 98.45% of the company's stock.

Enovis Price Performance

Shares of NYSE:ENOV traded down $0.32 during trading on Thursday, reaching $26.71. The company had a trading volume of 495,256 shares, compared to its average volume of 1,189,937. The company has a current ratio of 2.55, a quick ratio of 1.32 and a debt-to-equity ratio of 0.52. The company has a fifty day moving average of $31.27 and a two-hundred day moving average of $36.24. Enovis Corporation has a 12 month low of $25.93 and a 12 month high of $49.83. The stock has a market capitalization of $1.53 billion, a P/E ratio of -1.91 and a beta of 1.70.

Enovis (NYSE:ENOV - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.07. Enovis had a positive return on equity of 5.99% and a negative net margin of 37.65%. The company had revenue of $558.83 million during the quarter, compared to analyst estimates of $558.80 million. During the same quarter in the previous year, the company posted $0.50 EPS. Enovis's revenue for the quarter was up 8.2% on a year-over-year basis. Equities research analysts forecast that Enovis Corporation will post 2.79 earnings per share for the current year.

Wall Street Analyst Weigh In

ENOV has been the subject of several research reports. Evercore ISI cut their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Needham & Company LLC cut their price objective 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. Canaccord Genuity Group cut their price target on Enovis from $75.00 to $70.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Finally, JMP Securities cut their target price on Enovis from $62.00 to $55.00 and set a "market outperform" rating for the company in a research note 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 data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.60.

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.