555,665 Shares in Enovis Corporation $ENOV Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 555,665 Enovis shares worth approximately $11.5 million, giving it a 0.96% stake. Institutional investors and hedge funds collectively own 98.45% of the company.
• Enovis insiders also bought shares, including CEO Damien McDonald’s purchase of 13,035 shares and Oliver Engert’s purchase of 2,660 shares. Insiders purchased 23,293 shares worth about $449,599 over the past quarter.
• Analysts maintain a generally positive outlook, with Enovis carrying a “Moderate Buy” consensus rating and a $40.38 price target, despite recent target reductions. The stock opened at $18.45, while the company’s latest quarterly earnings and revenue slightly exceeded estimates.

Bank of America Corp DE acquired a new position in shares of Enovis Corporation (NYSE:ENOV - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 555,665 shares of the company's stock, valued at approximately $11,502,000. Bank of America Corp DE owned about 0.96% of Enovis as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ENOV. Paradigm Capital Management Inc. NY acquired a new stake in Enovis during the 2nd quarter worth approximately $28,533,000. Man Group plc acquired a new stake in Enovis in the second quarter valued at $8,711,000. Front Street Capital Management Inc. raised its position in Enovis by 106.1% during the 1st quarter. Front Street Capital Management Inc. now owns 746,056 shares of the company's stock worth $16,973,000 after purchasing an additional 384,124 shares during the last quarter. Quantinno Capital Management LP raised its position in Enovis by 130.8% during the 1st quarter. Quantinno Capital Management LP now owns 604,500 shares of the company's stock worth $13,752,000 after purchasing an additional 342,556 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new position in Enovis during the 2nd quarter worth about $6,979,000. Institutional investors and hedge funds own 98.45% of the company's stock.

Insiders Place Their Bets

In other Enovis news, insider Oliver Engert acquired 2,660 shares of the business's stock in a transaction on Friday, September 4th. The shares were acquired at an average price of $18.80 per share, with a total value of $50,008.00. Following the completion of the transaction, the insider owned 63,898 shares in the company, valued at approximately $1,201,282.40. This trade represents a 4.34% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Damien Mcdonald acquired 13,035 shares of Enovis stock in a transaction on Friday, September 4th. The stock was acquired at an average price of $19.15 per share, with a total value of $249,620.25. Following the purchase, the chief executive officer directly owned 247,077 shares in the company, valued at approximately $4,731,524.55. This trade represents a 5.57% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 23,293 shares of company stock worth $449,599 over the last quarter. 2.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ENOV shares. BTIG Research decreased their price target on Enovis from $40.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, September 1st. Citizens Jmp reduced their target price on Enovis from $55.00 to $47.00 and set a "market outperform" rating on the stock in a report on Wednesday, September 2nd. Zacks Research raised shares of Enovis from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 29th. Citigroup restated a "market outperform" rating on shares of Enovis in a report on Wednesday, September 2nd. Finally, Wall Street Zen downgraded shares of Enovis from a "buy" rating to a "hold" rating in a research report on Sunday, September 20th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Enovis currently has an average rating of "Moderate Buy" and a consensus price target of $40.38.

Enovis Trading Up 1.0%

Shares of ENOV stock opened at $18.45 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.00 and a current ratio of 1.98. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of -0.96 and a beta of 1.31. Enovis Corporation has a 52-week low of $17.30 and a 52-week high of $34.28. The company has a 50-day simple moving average of $23.74 and a two-hundred day simple moving average of $23.66.

Enovis (NYSE:ENOV - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.05. The firm had revenue of $582.78 million for the quarter, compared to the consensus estimate of $581.84 million. Enovis had a positive return on equity of 12.03% and a negative net margin of 47.96%.The company's revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. Enovis has set its FY 2026 guidance at 3.520-3.730 EPS. Research analysts anticipate that Enovis Corporation will post 3.15 EPS for the current fiscal year.

Enovis Company Profile

Enovis Corporation is a medical technology company that develops, manufactures and distributes products designed to improve patient mobility, support recovery and restore physical function. Its offerings serve orthopedic, sports medicine, rehabilitation and pain-management markets, with products used by healthcare professionals, athletes and patients.

The company's product portfolio includes orthopedic braces and supports, surgical solutions, cold and compression therapy systems, rehabilitation equipment, physical therapy devices and recovery technologies.

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