Bernzott Capital Advisors Grows Position in Enovis Corporation (NYSE:ENOV)

Bernzott Capital Advisors grew its stake in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 13.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,175 shares of the company's stock after purchasing an additional 18,365 shares during the quarter. Enovis makes up approximately 3.0% of Bernzott Capital Advisors' portfolio, making the stock its 17th biggest position. Bernzott Capital Advisors owned 0.28% of Enovis worth $6,044,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ENOV. Hood River Capital Management LLC bought a new position in shares of Enovis during the fourth quarter valued at approximately $29,024,000. Paradigm Capital Management Inc. NY increased its holdings in shares of Enovis by 2,566.0% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock valued at $23,397,000 after acquiring an additional 513,200 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Enovis during the fourth quarter valued at $16,407,000. ExodusPoint Capital Management LP increased its holdings in shares of Enovis by 919.4% during the fourth quarter. ExodusPoint Capital Management LP now owns 333,302 shares of the company's stock valued at $14,625,000 after acquiring an additional 300,605 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Enovis by 10.4% during the first quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock valued at $116,489,000 after acquiring an additional 289,644 shares in the last quarter. Institutional investors own 98.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ENOV shares. Evercore ISI reduced their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. JMP Securities dropped their price objective 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. Needham & Company LLC dropped their price objective on Enovis from $64.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Canaccord Genuity Group dropped their price objective on Enovis from $75.00 to $70.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.60.

Enovis Stock Performance

NYSE:ENOV traded down $1.30 on Friday, hitting $29.56. The stock had a trading volume of 250,346 shares, compared to its average volume of 915,791. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -2.13 and a beta of 1.70. The company has a quick ratio of 1.32, a current ratio of 2.55 and a debt-to-equity ratio of 0.52. The business's 50-day simple moving average is $32.75 and its two-hundred day simple moving average is $37.32. Enovis Corporation has a 52-week low of $28.83 and a 52-week high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.81 earnings per share (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 analysts' expectations of $558.80 million. Enovis had a positive return on equity of 5.99% and a negative net margin of 37.65%. The business's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.50 earnings per share. As a group, research analysts predict that Enovis Corporation will post 2.79 earnings per share for the current year.

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.

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