Cubist Systematic Strategies LLC Buys 94,670 Shares of Enovis Corporation $ENOV

Key Points

• Cubist Systematic Strategies LLC significantly increased its holdings in Enovis Corporation, raising its position by 431.8% to own 116,592 shares valued at approximately $4.46 million.
• Enovis reported a quarterly earnings per share of $0.79, exceeding analyst predictions, with revenue of $564.50 million, marking a 7.5% increase from the previous year.
• Despite six analysts rating Enovis as a "Buy," price targets have been adjusted downward, with JMP Securities lowering its target from $62.00 to $55.00.

Cubist Systematic Strategies LLC grew its holdings in shares of Enovis Corporation (NYSE:ENOV - Free Report) by 431.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 116,592 shares of the company's stock after acquiring an additional 94,670 shares during the period. Cubist Systematic Strategies LLC owned 0.20% of Enovis worth $4,455,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Enovis by 11.3% during the 1st quarter. Vanguard Group Inc. now owns 6,107,199 shares of the company's stock valued at $233,356,000 after purchasing an additional 621,069 shares in the last quarter. Paradigm Capital Management Inc. NY grew its position in shares of Enovis by 2,566.0% during the 4th quarter. Paradigm Capital Management Inc. NY now owns 533,200 shares of the company's stock worth $23,397,000 after buying an additional 513,200 shares during the period. DAVENPORT & Co LLC grew its position in shares of Enovis by 10.4% during the 1st quarter. DAVENPORT & Co LLC now owns 3,071,985 shares of the company's stock worth $116,489,000 after buying an additional 289,644 shares during the period. Victory Capital Management Inc. increased its stake in shares of Enovis by 734.5% in the 1st quarter. Victory Capital Management Inc. now owns 275,058 shares of the company's stock valued at $10,510,000 after acquiring an additional 242,096 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Enovis during the 1st quarter valued at $9,029,000. 98.45% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ENOV. Wells Fargo & Company reduced their price target on shares of Enovis from $48.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, August 8th. Evercore ISI reduced their target price on Enovis from $48.00 to $46.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Canaccord Genuity Group decreased their target price on Enovis from $70.00 to $58.00 and set a "buy" rating for the company in a research report on Friday, August 8th. UBS Group cut their price target on Enovis from $65.00 to $57.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Needham & Company LLC decreased their price objective on Enovis from $57.00 to $49.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $51.00.

Insider Transactions at Enovis

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

Enovis Stock Down 2.2%

NYSE ENOV traded down $0.69 on Wednesday, reaching $30.50. The company had a trading volume of 891,206 shares, compared to its average volume of 945,570. The company has a quick ratio of 1.15, a current ratio of 2.25 and a debt-to-equity ratio of 0.53. The company's fifty day moving average is $29.93 and its 200 day moving average is $32.92. Enovis Corporation has a 52-week low of $25.47 and a 52-week high of $49.83. The stock has a market capitalization of $1.74 billion, a P/E ratio of -2.14 and a beta of 1.68.

Enovis (NYSE:ENOV - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.05. The firm had revenue of $564.50 million during the quarter, compared to analyst estimates of $555.80 million. Enovis had a negative net margin of 37.80% and a positive return on equity of 6.78%. The business's revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.62 EPS. Enovis has set its FY 2025 guidance at 3.050-3.200 EPS. Sell-side analysts anticipate that Enovis Corporation will post 2.79 earnings per share for the current fiscal year.

About Enovis

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.