Boston Partners Sells 77,552 Shares of Enovis Corporation $ENOV

Key Points

• Boston Partners has reduced its stake in Enovis Corporation by 7.4%, now owning 970,980 shares valued at approximately $37 million after selling 77,552 shares in the first quarter.
• Enovis reported an EPS of $0.79 for the last quarter, surpassing analyst estimates of $0.74, and its revenue increased by 7.5% year-over-year, reaching $564.5 million.
• Several analysts have lowered their price targets for Enovis, with UBS Group decreasing its target from $65 to $57, while the stock maintains an average rating of "Buy" with a target price of $51.00.

Boston Partners cut its position in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 7.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 970,980 shares of the company's stock after selling 77,552 shares during the quarter. Boston Partners owned approximately 1.70% of Enovis worth $37,087,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC raised its stake in shares of Enovis by 17.3% during the first quarter. HighTower Advisors LLC now owns 7,342 shares of the company's stock valued at $281,000 after purchasing an additional 1,082 shares during the period. Public Sector Pension Investment Board bought a new stake in Enovis during the first quarter valued at $6,889,000. Nuveen LLC acquired a new position in shares of Enovis during the first quarter valued at $9,029,000. King Luther Capital Management Corp boosted its holdings in shares of Enovis by 86.8% during the first quarter. King Luther Capital Management Corp now owns 245,965 shares of the company's stock valued at $9,398,000 after acquiring an additional 114,303 shares during the period. Finally, Entropy Technologies LP lifted its holdings in Enovis by 135.2% in the first quarter. Entropy Technologies LP now owns 17,183 shares of the company's stock worth $657,000 after purchasing an additional 9,878 shares during the period. 98.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ENOV has been the topic of several recent analyst reports. JMP Securities cut their price objective on Enovis from $62.00 to $55.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. UBS Group decreased their target price on Enovis from $65.00 to $57.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Wells Fargo & Company reduced their price objective on Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, August 8th. Canaccord Genuity Group cut their target price on Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Finally, Needham & Company LLC dropped their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Enovis currently has a consensus rating of "Buy" and a consensus price target of $51.00.

Enovis Trading Down 1.5%

NYSE ENOV traded down $0.4460 during trading hours on Wednesday, hitting $29.9940. 931,028 shares of the company's stock were exchanged, compared to its average volume of 1,269,048. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -2.10 and a beta of 1.70. The company has a current ratio of 2.25, a quick ratio of 1.15 and a debt-to-equity ratio of 0.53. Enovis Corporation has a 1-year low of $25.47 and a 1-year high of $49.83. The stock has a 50-day simple moving average of $30.13 and a 200 day simple moving average of $34.31.

Enovis (NYSE:ENOV - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.05. The company had revenue of $564.50 million for the quarter, compared to analysts' expectations of $555.80 million. Enovis had a positive return on equity of 6.78% and a negative net margin of 37.80%.Enovis's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. On average, equities analysts forecast that Enovis Corporation will post 2.79 EPS for the current fiscal year.

Insider Buying and Selling

In other Enovis news, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The shares were acquired at an average cost of $29.71 per share, for a total transaction of $74,275.00. Following the completion of the acquisition, the chief financial officer owned 116,729 shares of the company's stock, valued at $3,468,018.59. The trade was a 2.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company's stock.

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.