Point72 Asset Management L.P. Acquires Shares of 63,554 Enovis Co. (NYSE:ENOV)

Point72 Asset Management L.P. acquired a new position in shares of Enovis Co. (NYSE:ENOV - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 63,554 shares of the company's stock, valued at approximately $2,789,000. Point72 Asset Management L.P. owned 0.11% of Enovis at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. grew its stake in shares of Enovis by 128.2% during the 4th quarter. UMB Bank n.a. now owns 778 shares of the company's stock worth $34,000 after purchasing an additional 437 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Enovis by 19.5% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 15,433 shares of the company's stock worth $677,000 after purchasing an additional 2,518 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of Enovis during the 4th quarter worth approximately $437,000. Tributary Capital Management LLC grew its stake in shares of Enovis by 33.9% during the 4th quarter. Tributary Capital Management LLC now owns 566,089 shares of the company's stock worth $24,840,000 after purchasing an additional 143,258 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of Enovis by 12.5% during the 4th quarter. Park Avenue Securities LLC now owns 11,988 shares of the company's stock worth $526,000 after purchasing an additional 1,333 shares during the period. Institutional investors and hedge funds own 98.45% of the company's stock.

Enovis Price Performance

Enovis stock traded down $0.76 during trading on Friday, reaching $31.61. The company had a trading volume of 692,977 shares, compared to its average volume of 786,005. The firm's 50-day simple moving average is $34.73 and its 200 day simple moving average is $41.10. Enovis Co. has a 1-year low of $29.32 and a 1-year high of $51.00. The firm has a market capitalization of $1.81 billion, a PE ratio of -14.43 and a beta of 1.79. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.27.

Enovis (NYSE:ENOV - Get Free Report) last released its quarterly 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. The firm had revenue of $558.83 million for the quarter, compared to analysts' expectations 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 for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. As a group, equities research analysts anticipate that Enovis Co. will post 2.79 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Needham & Company LLC dropped their price objective on shares of Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. JMP Securities dropped their price target on shares of Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. Finally, Canaccord Genuity Group dropped their price target on shares of Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $58.00.

Enovis Company 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.