Corebridge Financial Inc. Sells 61,007 Shares of Enovis Corporation $ENOV

Key Points

• Corebridge Financial Inc. significantly reduced its stake in Enovis Corporation by selling 61,007 shares, a decrease of 96.5%, leaving it with just 2,214 shares worth $85,000.
• Institutional investors now own 98.45% of Enovis, with several firms increasing their stakes during recent trading quarters, highlighting strong interest in the stock.
• Enovis reported a quarterly earnings per share (EPS) of $0.79, exceeding analysts' expectations, and anticipates a FY 2025 EPS guidance of 3.050-3.200.

Corebridge Financial Inc. lessened its holdings in Enovis Corporation (NYSE:ENOV - Free Report) by 96.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,214 shares of the company's stock after selling 61,007 shares during the quarter. Corebridge Financial Inc.'s holdings in Enovis were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. US Bancorp DE grew its stake in Enovis by 2.5% in the 1st quarter. US Bancorp DE now owns 19,031 shares of the company's stock valued at $727,000 after purchasing an additional 462 shares during the period. Southeastern Asset Management Inc. TN lifted its position in shares of Enovis by 60.6% during the 4th quarter. Southeastern Asset Management Inc. TN now owns 36,583 shares of the company's stock valued at $1,605,000 after buying an additional 13,797 shares during the last quarter. CSS LLC IL purchased a new position in shares of Enovis during the 4th quarter valued at $434,000. Stonegate Investment Group LLC purchased a new position in shares of Enovis during the 1st quarter valued at $237,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Enovis by 394.4% during the 1st quarter. State of Alaska Department of Revenue now owns 31,504 shares of the company's stock valued at $1,203,000 after buying an additional 25,132 shares during the last quarter. Institutional investors own 98.45% of the company's stock.

Insider Activity

In other Enovis news, CFO Phillip Benjamin (Ben) Berry purchased 2,500 shares of the stock in a transaction on Wednesday, August 20th. The shares were purchased at an average price of $29.71 per share, with a total value of $74,275.00. Following the acquisition, the chief financial officer directly owned 116,729 shares in the company, valued at approximately $3,468,018.59. The trade was a 2.19% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradley J. Tandy purchased 3,200 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $31.41 per share, for a total transaction of $100,512.00. Following the acquisition, the senior vice president owned 43,515 shares in the company, valued at approximately $1,366,806.15. This represents a 7.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

ENOV has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price target on Enovis from $70.00 to $58.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Wells Fargo & Company dropped their price target on Enovis from $48.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, August 8th. UBS Group dropped their price target on Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Needham & Company LLC dropped their price target on Enovis from $57.00 to $49.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Finally, Evercore ISI dropped their price target on Enovis from $48.00 to $46.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $51.00.

Enovis Stock Performance

Shares of ENOV opened at $31.39 on Tuesday. The stock's 50-day simple moving average is $30.02 and its 200 day simple moving average is $32.95. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -2.20 and a beta of 1.68. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.15 and a current ratio of 2.25. Enovis Corporation has a 52-week low of $25.47 and a 52-week high of $49.83.

Enovis (NYSE:ENOV - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.05. The business 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%.The firm's quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Research analysts forecast that Enovis Corporation will post 2.79 EPS for the current fiscal 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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